Madison Bankruptcy Law Firm Helps Individuals File for Bankruptcy
Jefferson County Indiana Bankruptcy Attorneys
$0.00 Down Files Your Bankruptcy - Available 24/7
If you are thinking of filing for bankruptcy in the Madison, Indiana area, it may be difficult to know where to begin. The amount of information on bankruptcy can be overwhelming, and bankruptcy law in Indiana is hard to decipher. Personal online research can help you gain some insight into bankruptcy, but professional help is necessary to ensure your situation is treated fairly.
You do not have to go through the process alone. The bankruptcy attorneys at Koehler Law Firm, proudly serving the Madison County area, are here to help you through filing for bankruptcy. Our attorneys have experience and expertise in Indiana bankruptcy law and will travel to meet with you. They will ensure your questions are answered and your debt relief process is as simple as possible.
Filing Bankruptcy in Madison County: Chapter 7 versus Chapter 13
There are two routes to take when one is considering filing for bankruptcy as an individual living in Indiana. Chapter 7 bankruptcy is the more well-known way to file. When filing under Chapter 7 bankruptcy, your debts are discharged (cancelled) with the understanding that your assets may be sold to repay creditors. Some debts, such as alimony, student loans, and tax debts are not eligible to be cancelled. Your assets include (but are not limited to):
- house
- land
- vehicles
- jewelry
All of your assets will not be sold, as it is understood that a certain amount of essential assets are needed to sustain yourself. Chapter 13 bankruptcy is different because you do not have to give up your assets. Your debts are reorganized and over a period of 3 to 5 years, you pay back all or most of your debt. However, Chapter 13 bankruptcy is not for everyone. Your debts may not exceed a certain amount, and you must be able to prove you can make regular payments on your debt. If not, Chapter 7 bankruptcy may be the better option.
Contact an Indiana Bankruptcy Attorney Today
Call our Madison Bankruptcy Attorneys to ease your concerns and begin your debt relief process. Koehler Law Firm’s attorneys have expertise in bankruptcy law in Indiana and want to help you through the bankruptcy process. Call our law firm today at (812) 645-9945 to schedule a consultation. Don’t face bankruptcy alone. Call Koehler Law Firm today.
