Lake Station Bankruptcy Lawyers
Lake Station

Bankruptcy Lawyers

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

Lake Station Bankruptcy Attorney Using Bankruptcy Can Help You Discharge Your Debts

When people find themselves drowning in debt, one place they look to for relief is the U.S. bankruptcy system. Debtors who are eligible may file bankruptcy proceedings as a way to reduce or eliminate their debts. People who are successful in their bankruptcy proceedings have their debts discharged, meaning that the debtor is legally released from their obligation g to repay the whole or most of their discharged debts. For many debtors, bankruptcy is the best means for getting out from under their mountain of debt.

Using Bankruptcy To Get Out From Under Your Debts

Bankruptcy can financially free a debtor, or at the very least, can help make managing debts easier. A majority of the debt carried by typical Indiana residents can be discharged through bankruptcy proceedings. Debtors can choose between a number of different types of bankruptcy proceedings, but the most commonly used forms of bankruptcy are Chapter 7 and Chapter 13 bankruptcy. The professionals at the Law Office of Kevin M. Schmidt, P.C. can help you choose the form of bankruptcy that is best for you.

Generally speaking, personal debt, credit card debt, medical debt and debt from auto or boat loans are just a few examples of the kinds of debts that people typically use bankruptcy proceedings to get rid of. However, there are some types of debt that are not as easy to get rid of, and these debts are typically referred to as “nondischargeable debts.”

Keeping You Informed: Some Debts Are Not Dischargeable  

Under 11 U.S.C. Section 523, there are certain types of debts that cannot be discharged when an individual files for Chapter 7 or Chapter 13 bankruptcy. When debts are considered nondischargeable, it means that the debtor is still responsible for paying the debts after the bankruptcy proceedings have concluded. Some of these nondischargeable debts include, but are not limited to:

  • Debts you fail to include in your bankruptcy filings;
  • Domestic support obligations (e.g., child support or alimony obligations);
  • Tax obligations owed to government agencies;
  • Fines or other penalties owed to government agencies;
  • Tax liens;
  • Student debt, in most cases;
  • Unscheduled debts;
  • Criminal fines and penalties;
  • Financial obligations to third parties, such as court imposed fines and penalties, associated with a personal injury judgment or a wrongful death judgement based on drunk or drugged driving offenses;
  • Financial obligations to third parties, such as court imposed fines and penalties, associated with malicious or willful caused by you;
  • Debts that are fraudulently obtained; and
  • Court fines and penalties.

We Can Help With Your Bankruptcy

Bankruptcy might seem like the cure all to your financial troubles, but you may have some types of debt that bankruptcy simply will not help you with. An experienced Lake Station bankruptcy lawyer can help you determine whether your debts are dischargeable through bankruptcy. The attorneys at the Law Office of Kevin M. Schmidt, P.C. are dedicated to helping clients obtain the bankruptcy that they need. Reach out to us today for help.

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
Our Location200 E. 80th Place
Suite 110
Merrillville, IN 46410
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We are a debt relief agency. We help people file for bankruptcy relief under the bankruptcy code. This website is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Testimonials are not a guarantee, warranty, or prediction of the outcome of your case.