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...
When can you file for Chapter 7 bankruptcy again?
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...
How Indiana families can clear debt with Chapter 7
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...
Can you file Chapter 7 bankruptcy twice?
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...
What happens during a Chapter 7 bankruptcy?
Filing for bankruptcy is a major decision in your life, but it is one that can come with great financial freedom. Consumers often file either a Chapter 7 or a Chapter 13 bankruptcy. While both of these can provide a fresh financial start, Chapter 7 is generally...
How do individuals qualify for Chapter 7 bankruptcy?
Chapter 7 bankruptcy is available for both businesses and individuals. When individuals or married couples pursue relief through Chapter 7 bankruptcy, they must first prove that they qualify. Chapter 7 bankruptcy, also known as liquidation bankruptcy, is a relatively...
Can I file Chapter 7? The Indiana means test explained
When you are overwhelmed by credit card debt, Chapter 7 bankruptcy can represent the fresh start you need. It is a powerful tool designed to eliminate or discharge eligible unsecured debts, such as credit card balances and medical bills. However, many people in...
Can you keep your car after Chapter 7?
Filing for Chapter 7 bankruptcy can bring a mix of relief and worry, especially when you still have a car loan. So, when bankruptcy comes into the picture, one of your biggest concerns might be “What about the car?” Truthfully, it depends on how you handle that loan....
3 reasons your Chapter 7 bankruptcy can be denied
A Chapter 7 bankruptcy discharge can provide much-needed relief by allowing individuals to eliminate most of their unsecured debts and enable them to regain financial stability. However, not all not all Chapter 7 bankruptcy filings are successful. When you apply for a...
What is exempt property in a Chapter 7 bankruptcy in Indiana?
People who file for bankruptcy protection have usually tried everything else they can to get their finances under control. For those who take the step, one decision that has to be made is what type of bankruptcy they’ll file. Individuals who pass the means test for...
