Bankruptcy Attorneys Schererville
Indiana Bankruptcy Lawyers Representing Clients in Schererville
Bankruptcy law in Indiana is complex, and it is essential to work with experienced bankruptcy attorneys in Schererville on your case. When you are considering the possibility of filing for bankruptcy, you will want to work with a lawyer who can evaluate your circumstances and discuss your eligibility for different types of bankruptcy. Once you know what kind of bankruptcy petition you will file, it will be important to have an attorney in Indiana representing you at every stage of the bankruptcy process. At Whitten & Whitten, we serve clients in a wide range of bankruptcy cases and can speak with you today about your options.
Common Schererville Bankruptcy Cases
Our experienced bankruptcy attorneys in Schererville assist clients with many kinds of bankruptcy issues and cases, including but not limited to the following:
- Chapter 7 bankruptcy;
- Chapter 13 bankruptcy;
- Chapter 11 bankruptcy;
- Liquidation bankruptcy;
- Reorganization bankruptcy;
- Bankruptcy exemptions;
- Means test for liquidation bankruptcy; and
- Converting a bankruptcy case.
Eligibility for Bankruptcy in Schererville, Indiana
Your eligibility for bankruptcy will depend upon the type of bankruptcy you are planning to file for in Schererville, Indiana. Bankruptcy law in the United States has specific requirements for individuals seeking a liquidation bankruptcy under Chapter 7. Most importantly, for a consumer to be eligible to file for Chapter 7 bankruptcy, they will usually need to pass something known as the “means test” to prove that their assets and income are limited enough for a liquidation bankruptcy to be sensible and not abusive.
To qualify for a Chapter 13 or Chapter 11 bankruptcy case, you will need to prove that you earn a regular wage or regular income since these types of reorganization bankruptcies are also known as bankruptcies for wage earners, or a “wage earner’s plan.” In a reorganization bankruptcy, assets are not liquidated. Instead, the debtor develops a court-approved repayment plan through which debts are reorganized, and debtors have an opportunity to catch up on accounts.
Indiana Bankruptcy Exemptions for Filers in Schererville
Bankruptcy exemptions allow debtors to keep the property (and to avoid having it liquidated) in Chapter 7 bankruptcy cases, while exemptions help to determine the total amount of a debtor’s repayment plan in reorganization bankruptcies. Although some states allow debtors to choose between federal and state bankruptcy exemptions, debtors who file for bankruptcy in Schererville will need to use the Indiana exemptions set forth under state law. There are a variety of exemptions, and the following are some examples:
- Homestead exemption of up to $19,300;
- Wildcard exemption of up to $10,250 in property of your choosing;
- Health aids;
- Health savings accounts;
- Qualified tuition program savings;
- Pensions and retirement accounts;
- Life insurance policies;
- Unemployment compensation; and
- Workers’ compensation benefits.
Contact Our Schererville Bankruptcy Lawyers
Whether you have questions about the bankruptcy process or need help with your bankruptcy case, you should get in touch with one of the experienced Schererville bankruptcy attorneys at our firm. We are committed to serving clients in a range of bankruptcy matters, and we can evaluate your circumstances for you today to discuss your eligibility for different types of bankruptcy. Contact Whitten & Whitten to learn more about the services we provide to clients in Indiana.
Schedule A Free Consultation
At Whitten & Whitten, we offer a free consultation during which we will examine the facts of your case and advise you on how best to proceed