When facing financial hardship in Indiana, individuals may consider filing for bankruptcy as a means to alleviate debt. However, there is a common misconception regarding whether or not Chapter 7 bankruptcy can discharge child support. While considering this type of...
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Are tax debts dischargeable under chapter 7 bankruptcy?
The American Bankruptcy Institute reported that in 2022, of the 13,076 bankruptcy cases filed in Indiana, 7,833 were for Chapter 7. Navigating the complexities of bankruptcy can be a daunting task, especially when it comes to tax debt. Individuals seeking financial...
Can you keep your home if you file Chapter 7 in Indiana?
When facing financial challenges, individuals may explore relief options like Chapter 7 bankruptcy. In this situation, you may have questions about whether you can keep your home if you file for bankruptcy. Understanding the Indiana Chapter 7 laws can help you make an...
Why working with debt consolidation companies is risky
Considering debt consolidation as a solution to manage financial challenges is common. However, entrusting this task to a debt consolidation company comes with inherent risks. Understanding these risks is important for individuals seeking to address their debts...
Can you keep your car if you declare Chapter 7 bankruptcy?
Chapter 7 bankruptcy can help you discharge unsecured debts like credit cards and medical bills. This process can sometimes lead to the liquidation of your personal property, including valuable assets like your vehicle. By carefully planning ahead, it is possible to...
What debts are nondischargeable in bankruptcy?
Filing for bankruptcy could be a stressful process. It could involve a series of procedures, such as filing a bankruptcy petition with the court. All these steps are necessary to organize and resolve debts or repayments. A vital part of this process is determining...
What assets are nonexempt in Chapter 7 bankruptcy?
Filing for bankruptcy can be a way to start over when debt has grown beyond what you can repay. However, bankruptcy is not without its drawbacks. Without fully understanding the consequences, there's a chance you might lose a significant portion of your personal...
Can I keep my car if I file for Chapter 7 bankruptcy?
Most people in Indianapolis find having a car to be indispensable in their daily life, especially to get to work to support their families. Given the importance driving has in our society, if you are facing Chapter 7 bankruptcy, one of your major concerns might be...
Will I be able to get another loan after a Chapter 7 bankruptcy?
If you have filed for Chapter 7 bankruptcy in Indiana, you may wonder if you will ever be able to get another loan. The answer is yes, but it will take some time and effort on your part. Here are some tips on how to rebuild your credit and qualify for a loan after a...
Automatic stay an important component of Chapter 7 bankruptcy
Bankruptcy relief under Chapter 7 bankruptcy seeks to provide a debtor with a fresh start. Success, however, requires compliance with two separate aspects of the law: the substantive provisions and the procedural, or timeliness, requirements. After the initial steps...