Cedar Lake Bankruptcy Lawyer

Cedar Lake Bankruptcy Lawyer

“We’ve Been Helping People from Merrillville and Northwest Indiana Get Out of Debt for 20 Years”

Cedar Lake Bankruptcy Lawyer

Helping Clients in Cedar Lake Find Financial Relief Through the Bankruptcy Process

Overwhelming debt can take over your life, but always know there are solutions, and you do not have to solve the problem on your own. An experienced Cedar Lake bankruptcy lawyer can review your financial situation and advise you whether bankruptcy might be a viable option. While bankruptcy might seem like a drastic measure, this legal process has helped many people in the Cedar Lake area find relief from their debt.

The Law Office of Kevin M. Schmidt, P.C. provides bankruptcy representation, including a free evaluation of your options. If you decide to move forward with bankruptcy, we will navigate the entire process for you from start to finish. Contact us to schedule your consultation today. 

Deciding to File for Bankruptcy

You should consider many different factors when deciding whether bankruptcy is the right solution in your situation. How much is your income compared to your expenses and debts? Do you not have enough disposable income to make payments towards your debts each month? Are you facing a possible foreclosure, eviction, or repossession? What is the nature of your debt? These are all questions we examine when helping clients decide if bankruptcy is the right path.

Handling Chapter 7 and Chapter 13 Bankruptcy Cases

The next step is to decide which type of bankruptcy is right for you. There are two primary options for consumers in the United States – Chapter 7 or Chapter 13. These are quite different processes, and you should always ensure you file for the right type of case. 

The following is an overview of the Chapter 7 process:

  • You must pass the “means test,” which means you must prove you are below the mean income for your state and do not have enough income to pay your debts
  • After you apply for property exemptions, any nonexempt property and assets are vulnerable to liquidation by the bankruptcy trustee
  • No payment plan is required by the court
  • You can receive a discharge of qualified debts relatively quickly – usually, in four to six months

Chapter 13 bankruptcy is a longer process, though you will not have to give up any property or assets. Instead, you will need to complete a repayment plan with the court that can last from three to five years before you receive a discharge. Chapter 13 can be beneficial in many situations, including:

  • You have too much income to pass the means test
  • You have property and assets that are nonexempt, and you want to retain them

Once we help you decide which type of bankruptcy to file, we will guide you through the process, from the preparation of your case to your final discharge. 

Contact a Cedar Lake Bankruptcy Lawyer to Discuss Your Situation Today

When you are struggling to pay your debts, do not hesitate to contact a Cedar Lake bankruptcy attorney at the Law Office of Kevin M. Schmidt, P.C. Contact us to get started toward a fresh financial start.

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

Our Phone Number219-756-0555
Contact via Emailinfo@kmslawoffice.net
Our Location200 E. 80th Place
Suite 110
Merrillville, IN 46410
Copyright 2019. All rights reserved | NUVEW | Accessibility Notice
We are a debt relief agency. We help people file for bankruptcy relief under the bankruptcy code. This information is designed for general information only. The information presented should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Past results and testimonials are not a guarantee, warranty, or prediction of the outcome of your case, and should not be construed as such. Past results cannot guarantee future performance. Any result in a single case is not meant to create an expectation of similar results in future matters because each case involves many different factors, therefore, results will differ on a case-by-case basis. By providing certain contact information herein, you are expressly authorizing the recipient of this message to contact you via the methods of communication provided.
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