Merrillville Bankruptcy Lawyers

Merrillville Bankruptcy Lawyers

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

Merrillville Bankruptcy Lawyers

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. 

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 Bankruptcy

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. 

An overview of a Chapter 7 case involves:

  • Passing the means test, which ensures your income is not too high to qualify
  • Filing your bankruptcy petition and supporting documents with the right U.S. Bankruptcy Court
  • Attending the Meeting of Creditors with your attorney
  • Applying exemptions to your property and relinquishing nonexempt property to the bankruptcy trustee
  • Having your nonexempt property liquidated by the trustee to go toward your priority creditors
  • Obtaining a discharge of your remaining qualified debts by the court, which eliminates your obligation to pay them

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. 

Chapter 13 Bankruptcy

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. 

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. 

Discuss Your Situation with Merrillville Bankruptcy Lawyers Today

At the law office of Kevin M. Schmidt, Attorney at Law, 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. 

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

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Our Phone Number219-756-0555
Contact via Emailinfo@kmslawoffice.net
Our Location200 E. 80th Place
Suite 110
Merrillville, IN 46410
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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