Across Indiana, many households are struggling to keep up with their bills. The COVID-19 pandemic, unemployment, other medical issues, lack of childcare, and more can all contribute to serious financial problems. Once you fall too far behind on your debts, it can be difficult or impossible to catch back up.Â
You do not have to live dodging collectors or wondering if you are going to keep the roof over your head. There are options to help you get financial relief, and you should discuss the best solution for your situation with Merrillville bankruptcy lawyers.
Chapter 7 is the type of bankruptcy that most consumers or small business owners file. The process is fairly quick, and there is no requirement to make additional payments toward your debts. There might be a risk that you have to give up some of your property, but many people avoid this, and your attorney can advise you whether you have property at risk.Â
An overview of a Chapter 7 case involves:
While this is a relatively straightforward type of bankruptcy, it is still a complicated legal process, and having an experienced bankruptcy lawyer is critical to the success of your case.Â
While Chapter 7 is a popular type of bankruptcy, it is not right for everyone, and some people do not even qualify because they earn too much income. If you cannot pass the means test or have too much non-exempt property, Chapter 13 bankruptcy can be the right choice for you. This type of bankruptcy begins with a petition filed with the court, and involves entering into a three or five-year payment plan with the court. You make monthly payments to the court and, once you complete your payment plan, the court can discharge your remaining qualified debts.Â
While Chapter 13 is not as quick as Chapter 7, it helps many people free themselves from overwhelming debts, save their homes, and more. You want an attorney to ensure that your payment plan is fair based on your income and to advocate for you should you need to adjust your payment amount.Â
At Whitten & Whitten, we help individuals, married couples, and small businesses file for bankruptcy and relieve their debt issues. Contact us for a free consultation so we can evaluate whether bankruptcy is right for you. If you choose to proceed, we will handle the entire process for you.Â
These guys really took me out of a tough time. Really down to earth and made me feel at easy. Would recommend
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