Sometimes debt gets so difficult to handle that filing bankruptcy can feel like the only way out, whether you’re filing as a person or as a business. If you’re considering filing bankruptcy in Indiana, speak to our lawyers about your options and rights when filing.
Debt is no laughing matter. When your expenses outpace your income, it becomes overwhelming, and it can be difficult to bounce back, no matter how frugal you are. When this happens, it may be time to consider filing bankruptcy in Indiana.
This isn’t easy, either. Considering the different bankruptcy options and their requirements, you might not know which way to turn. That’s where the Rowdy G. Williams Law Firm, comes in. We know the ins and outs of each plan type, and we can walk you through the entire process, from deciding your future plans to taking steps with the court to get there.
If you’re struggling with debt and need to file bankruptcy in Indiana, call us. We’ll make sure that you get the help you need to get through this tough time.
Choose Your Bankruptcy Plan
When you file bankruptcy in Indiana, you’ll likely be looking at either a Chapter 7 or a Chapter 13 plan. These depend on how quickly you need to pay off your debts, and whether your income can handle the debt burden.
Chapter 7 may seem extreme: Your assets will be liquidated, paying off your debts within a few months but leaving you without the goods you had, such as vacation homes and second vehicles. If you need a fresh start, this is the plan for you.
If your income is over the Indiana state median, however, you may be looking at a Chapter 13 plan. These plans stretch out your payments over three to five years, structuring your plan so that you can pay off a little each month without losing everything. If you have the funds, you can avoid the more extreme route and protect your assets.
Handling the Indiana Bankruptcy Courts
Once you and your attorney have settled on a plan, you can take it to the Indiana courts. Much like other court case types, you’ll need to file a claim and fill out the proper paperwork for your bankruptcy claim. While you can do this yourself, it’s best to have a bankruptcy lawyer present to make sure that your case gets the proper care it needs.
Once you’ve filled out the forms and paid your fees, typically $280 to $300 depending on the type of plan, the courts will assume control of your debt. They will assign a trustee to your case, who will work with you and your lawyer to construct your plan for a debt-free future.
Get Help Filing Bankruptcy in Indiana
Filing bankruptcy in Indiana is rarely easy, but with the right legal help, you can be on your way to a debt-free life in no time. With our team on your side, you’ll have all the tools you need to get out from under your debt.
At the Rowdy G. Williams Law Firm, we know how confusing bankruptcy law can be, and we’re here to help. Contact us for a free consultation about your case, where we’ll walk you through what we can do for you.
If you’re interested in arranging a time to discuss your bankruptcy options, give us a call at 1-812-232-7400 or complete our online form below.