Best Bankruptcy Lawyer in Northwest Indiana
If you are facing overwhelming debt and need help, turn to the best bankruptcy lawyer in Northwest Indiana for relief. Whether you’re dealing with liens, a potential foreclosure, a lawsuit, wage garnishment or repossession, we can help.
At the Law Office of Kevin M. Schmidt, our highly qualified team of skilled bankruptcy attorneys can review your situation and help you determine your best option to help eliminate debt immediately.
Your options may include debt negotiation or debt consolidation, credit card relief or foreclosure. Or you may decide to submit a bankruptcy filing, either Chapter 7 bankruptcy or Chapter 13 bankruptcy, which provides you with the relief and legal protection you need.
Regardless of your situation, we’ll immediately put an end to those harassing phone calls. Contact our office directly, and we’ll answer any questions you may have so you can make informed decisions about your debt relief and getting a fresh start.
Northwest Indiana Chapter 7 Bankruptcy
The most frequent kind of bankruptcy is a Chapter 7 bankruptcy which discharges debt including debt from credit cards, medical bills, auto loans and mortgage debt.
Since Chapter 7 bankruptcy is intended for those with lower-income and average-income, you must pass what is called a means test to be eligible. The means test in Indiana analyzes your income over the six months preceding the filing of the bankruptcy petition and compares it to the state’s median income.
Typically, if your income is under the median income you will likely qualify for Chapter 7 bankruptcy. If your income exceeds that amount, don’t worry. You may still qualify for a Chapter 13 to help relieve some of your financial burden.
A Chapter 7 bankruptcy is often the last option for anyone struggling to address debt. But many choose this form of bankruptcy because it provides a real option for immediate debt relief. Contact an experienced Indiana Chapter 7 bankruptcy attorney to learn what options would work best for you.
Northwest Indiana Chapter 13 Bankruptcy
A Chapter 13 bankruptcy is different from a Chapter 7 bankruptcy because it involves a repayment plan approved by the court. With a Chapter 13 bankruptcy, the debts are consolidated into one reduced monthly payment. The debtor then makes that payment for a period of three to five years. The bankruptcy is officially discharged after the repayment plan is complete and paid in full.
A Chapter 13 bankruptcy, like a Chapter 7 bankruptcy, is beneficial because it initiates an “automatic stay” on your debts from the time you file for bankruptcy. That means creditors must stop harassing you about debts for the entire period of the bankruptcy, with some exceptions.
Without creditors breathing down your neck, this form of bankruptcy is helpful because you can follow a realistic debt payment plan while being legally protected from foreclosure, repossession and other negative actions.
If you feel a Chapter 13 bankruptcy may serve your needs, reach out to our experienced bankruptcy legal team. We’ll show you what a Chapter 13 bankruptcy might look like in your situation.
Get Help From the Best Bankruptcy Lawyer in Northwest Indiana
Remember, bankruptcy isn’t about walking away from responsibilities. Rather, it’s about creating positive changes by using a longstanding legal option to get through hard times and start anew.
At Law Office of Kevin M. Schmidt, we help our clients with real debt relief options that have life-changing results. To speak with a Northwest Indiana bankruptcy attorney, contact us for a free consultation. We’ll help you get the fresh start you deserve.
Schedule A Free Consultation
At the Law Office of Kevin M. Schmidt, P.C., we offer a free consultation during which we will examine the facts of your case and advise you on how best to proceed