Skilled Hobart Bankruptcy Lawyers
Many people in Hobart, Indiana realize that they might need to consider using bankruptcy as a way of dealing with their debt load. While bankruptcy offers debtors a way to reduce or completely eliminate most, if not all, of their debt, bankruptcy is not without specific eligibility requirements, consequences and limitations. People who think that bankruptcy might be the right solution for their financial situation should consult with an experienced bankruptcy lawyer to get a better understanding of what options are available to them based on their particular situation.
Helping You Understand Your Options
Bankruptcy can be a confusing area of law to those who are unfamiliar with it. To begin, there are several different types of bankruptcy, each offering its own unique solution for managing the debtor’s debt. The most frequently used forms of bankruptcy include Chapter 7 and Chapter 13 bankruptcy.
- Chapter 7. Through Chapter 7 bankruptcy, eligible debtors can eliminate their dischargeable debts through a liquidation process. The debtor’s non-exempt assets are liquidated and the funds are used to pay off as much of the debtor’s outstanding debt as possible. The remaining debt is discharged, leaving the debtor with a fresh financial start. Chapter 7 bankruptcy is the most frequently used form of bankruptcy in Indiana.
- Chapter 13. Chapter 13 bankruptcy involves restructuring a debtor’s debts to make repayment more manageable. Some individuals do not qualify for Chapter 7 bankruptcy and must resort to Chapter 13 bankruptcy instead.
The lawyers at the Law Office of Kevin M. Schmidt, P.C. can help you understand the differences between these types of bankruptcy and can explain to you what the eligibility requirements are for each one.
We Won’t Let You Go This Alone
No one should have to navigate the bankruptcy system without the help of an experienced bankruptcy lawyer to help them through the process. There are so many options, so many eligibility requirements, and so many other details that it is tough for those who are unfamiliar with bankruptcy law to figure it all out. Not only are there particular rules for the specific type of bankruptcy that you are filing for, but there are also specific local court rules that will apply in your bankruptcy case. You needn’t worry about the details when you work with one of the bankruptcy professionals at the Law Office of Kevin M. Schmidt, P.C.. Our lawyers have many years of experience helping clients file for Chapter 7 and Chapter 13 bankruptcy and we can make sure that your paperwork is complete and correct so that your bankruptcy can be resolved sooner rather than later. Let us help you today.
Are You Searching for a Bankruptcy Attorney? Call the Law Office of Kevin M. Schmidt, P.C.
Debt should not control your life, and if you are in dire financial straits, there are options available to you, like bankruptcy. The experienced bankruptcy lawyers at the Law Office of Kevin M. Schmidt, P.C. have helped many Hobart residents deal with their bankruptcy issues and we can help you too. Contact us online, or you can give our office a call by dialing 219.756.0555.