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...
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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...
Filing for Chapter 7 bankruptcy in Indiana
If you have been struggling financially and you have come to the conclusion that your financial situation is not going to get any better, you may have decided that filing for Chapter 7 bankruptcy is your only solution to get you out of the river of debt that is...
What is the tradeoff for filing a Chapter 7 bankruptcy?
Most Chapter 7 bankruptcies end with Indianapolis residents receiving a discharge from most of their debt, including things like credit card debt and overdue medical bills. A Chapter 7 can also discharge an individual from any business debt they may have taken on....
Chapter 7 bankruptcy in Indiana
Your life may have been going along well, your income may have been steady and you and your spouse were able to save money every month that you intended to use many years in the future when you retire. However, at times, life hands you things that you couldn't...