Choosing to file for bankruptcy is not an easy decision. But for some people, it is their best option. When you make the choice, you’ll have many questions – what will you be able to keep and what will you have to give up? For those receiving Social Security benefits,...
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Bankruptcy filings fall but rise may be just around the corner
Over the past several weeks, many news outlets have reported that the number of bankruptcy filings across the country have fallen sharply in 2021. In fact, according to the data from the U.S. Courts website, a total of 434,540 bankruptcy petitions were filed in the...
Finding debt relief solutions in Indiana
The past two years have seen sudden economic turmoil, including job losses, business failures and recession. Whether it has been due to crushing medical debt, a layoff, or unfavorable financing options, many Indiana residents are still struggling to see the light of...
Is creditor objection a legitimate concern in bankruptcy?
Moving forward with a bankruptcy filing is rarely an easy decision and Indiana residents undoubtedly take it seriously. The benefits of a Chapter 7 or Chapter 13 bankruptcy are many. People can get into a better financial situation and clear onerous debts to get a...
New bill addresses problem of student loans and bankruptcy
Many people dream of getting a college degree from one of Indiana’s many fine universities, but this education comes at a steep price in the form of high tuition rates, housing, books and other fees. This means people may incur tens or even hundreds of thousands in...
Bankruptcy exemptions in Indiana include public employee pensions
The economic wave of 2020 crashed in bankruptcy court. According to the American Bankruptcy Institute (ABI), more than 17,000 Indiana residents filed under one of the three more common chapters: 7, 11, and 13. Indiana law, however, affords some protection for those...
Some debts cannot be discharged in bankruptcy
Most people in Indiana view bankruptcy as a means for discharging their obligations to creditors and escaping what may be a suffocating mountain of debt. Unfortunately, not all debts can be discharged in bankruptcy. An understanding of the most common nondischargeable...
Bankruptcy filings have plunged
Over the past year or two, we have seen the news reports on the expected tsunami of bankruptcy filings that we will experience soon. Indeed, economists across the country and world thought that the economic turmoil over this time would cause a bankruptcy surge, the so...
How different bankruptcy options may help with medical debt
Medical debt can be debilitating which is why consumers struggling with it should be familiar with the bankruptcy options that may be able to help. Medical debt can be eliminated in bankruptcy and different personal bankruptcy protection options may help. Eliminating...
Life after bankruptcy: Rebuilding your credit score
Many individuals understand they are facing overwhelming debt and continue to avoid bankruptcy because they are concerned about what the process might do to their credit rating. While a bankruptcy can impact your score, you are likely doing more damage to it by...