Chapter 7 bankruptcy erases an individual's personal liability for most debts. However, this relief does not eliminate the obligation for joint account holders. Creditors can still collect from non-filing co-signers in these situations. What happens to the debt and...
Individuals who previously received a Chapter 7 discharge typically encounter a mandatory waiting period before obtaining a new one. Federal law applies this timeframe across Indiana and all other states. Understanding this timeline helps individuals plan their...
Falling behind on car payments can put your vehicle at risk of repossession. For many people in New Albany, losing a car can also make it harder to get to work, take children to school or handle daily needs. Bankruptcy may provide a way to pause collection efforts,...
Credit card debt can become difficult to manage when high interest rates make it harder to reduce balances. If families in New Albany have fallen behind on their bill payments, Chapter 7 bankruptcy may provide a way to address qualifying credit card debt and other...
Self-employed individuals, freelancers and small business owners in Indiana often wonder if they can use Chapter 13. The short answer is yes. Self-employed individuals can file Chapter 13 bankruptcy if they have regular income and want to reorganize qualifying debts...
Life can get harder more easily than one would think. A job loss, unexpected medical expenses or economic shift can derail even the best financial plans. If you have already filed for Chapter 7 bankruptcy, you might wonder whether you can seek the same relief again if...
Falling behind on mortgage payments can make you worry about losing your home. If a lender has started the foreclosure process, you may wonder whether bankruptcy can stop it.In Indiana, bankruptcy can often temporarily stop foreclosure, but the outcome depends on the...
The probate and estate administration process requires a thorough financial review. The personal representative overseeing estate administration assesses financial statements, reads incoming mail, communicates with interested parties and uses estate resources to pay...
In Indiana bankruptcy cases, inheritances are not automatically off-limits just because they come from family or arrive unexpectedly. The rules determine whether the money or property is treated as part of the assets available to pay creditors. What happens to an...
Chapter 7 bankruptcy is the fastest path to discharge available. However, not everyone actually qualifies for Chapter 7 bankruptcy. Some people have high enough income that they cannot pass the means test. For others, the inability to exempt all of their property...
