St. John Chapter 7 Bankruptcy Attorneys

St. John Chapter 7 Bankruptcy Attorneys

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

St. John Chapter 7 Bankruptcy Attorneys

Helping Clients in St. John get a Fresh Financial Start with Chapter 7 Bankruptcy

Chapter 7 bankruptcy is the most common type of consumer bankruptcy in the United States. Known as “straight bankruptcy” or “liquidation bankruptcy,” Chapter 7 cases help individuals and households address crushing personal debt in a straightforward and relatively quick process. Often, within three to six months, filers can start over with a clean financial slate, ending the stress that comes with unmanageable debt. 

While Chapter 7 can discharge your unsecured personal debts, some people may have to give up certain property and assets in exchange. Some people also might not qualify for Chapter 7, as this type of bankruptcy is not for high earners. If you are looking for debt relief, you should discuss all of your bankruptcy options with a skilled St. John Chapter 7 bankruptcy attorney as soon as possible.

Deciding to File Under Chapter 7

Chapter 7 bankruptcy can provide you with the discharge of the majority – or all – of your debts, often requiring little in return. Chapter 7 does not require a repayment plan like Chapter 13, as the bankruptcy trustee will seek to liquidate nonexempt property to pay creditors instead. However, many people have little to no nonexempt property, and the right bankruptcy lawyer can apply available exemptions in a manner that protects the maximum amount of assets and property. If you have too much property and assets you want to protect, Chapter 7 might not be for you.

Even if you decide to file for Chapter 7, you must pass the “means test.” This test compares your household income to the median income for a similarly-sized household in your state, as reported each year by the Department of Justice (DOJ). If your income is lower than the state median, you pass the means test. If not, your lawyer can assist you in deducting qualified expenses, such as mortgage payments and child support, to prove you do not have the disposable income to make payments toward your debts. If you still do not pass the means test, you can file under Chapter 13.

Handling Every Step of the Bankruptcy Process

If you qualify for Chapter 7, our legal team will navigate the bankruptcy process for you, including:

  • Preparing and filing all necessary documentation
  • Ensuring that creditors comply with the automatic stay, which halts all collection attempts and legal action
  • Representing you at your 341 Meeting, also known as the Meeting of the Creditors
  • Ensuring you receive a successful discharge of debts whenever possible

Schedule a Free Consultation with an Experienced St. John Chapter 7 Bankruptcy Attorney

Filing for Chapter 7 bankruptcy in St. John is a big decision that can give you significant financial relief. You want to make sure you have the right legal support and assistance, so you have the best chance at a successful discharge. The legal team at the firm of Kevin M. Schmidt, Attorney at Law, is ready to help. Contact us to schedule an appointment and learn about your options today.

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
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.