The usual types of bankruptcy filed by individuals are Chapter 7 and Chapter 13, according to your financial condition and if you have the ability to pay. You must be able to verify that you have received credit counseling from an Indiana Trustee-approved agency within six months before you intend to file the bankruptcy. In addition, you must take a debtor education course before the bankruptcy can be discharged. You will also have to file Indiana’s bankruptcy exemptions that will aid in determining what you get to keep in a Chapter 7 bankruptcy, and are also a part of how much you will be paying your unsecured creditors in the case of a Chapter 13 bankruptcy.
Times are tough in the economy today. It is becoming more difficult to pay bills as the prices of products and services rise, but the wages are not rising up with the high costs. Consequently, you have to learn to adjust your lifestyle, or if worse comes to worst, you may be so far behind that you have to file bankruptcy. There are the best Bankruptcy Lawyers in Ft. Wayne, IN who wants to tell you about the bankruptcy laws and procedures in Indiana.
In Indiana, your bankruptcy filing requires you to compare your household income with the average income for a like household in the state. Should your income fall below the average, or the median, you will qualify for Chapter 7, and if your income is above the average, you might still be able to qualify for Chapter 7, but you will have to provide more detailed information about your payments and expenses on your secured debts.
Ripke Law, P.C., with offices in Ft. Wayne, Indiana and Marion, Indiana can help you with any bankruptcy issues you may be experiencing. The law firm provides such services as credit card debt counseling, medical bills, foreclosures, repossessions, wage garnishments, and much more. With over 13 years of experience in the laws pertaining to bankruptcy, the office assures it can be of service to you. For Bankruptcy Lawyers in Ft. Wayne, IN and the surrounding areas, you can contact Ripke Law, P.C. for more information. You can also gain more information by visiting the website.