Muncie Debt Relief Services Attorney
Learn More About Bankruptcy and Bankruptcy Alternatives
There are many myths about filing bankruptcy. At the Law Office of Colby J. Leonard, we offer a free initial consultation to dispel the myths and help you understand the full range of debt relief options available to you.
We provide debt relief services in the following areas:
- Filing bankruptcy: The right form of debt relief will depend on your assets, your income, and your type of debt.
- Chapter 7 bankruptcy: Chapter 7 bankruptcy is called "debt liquidation" bankruptcy since it wipes out your debts and assets. However, many assets are exempt — which means you get to keep them while still liquidating most, if not all, of your debt.
- Chapter 13 bankruptcy: Chapter 13 bankruptcy is a debt repayment plan that allows you more options than a Chapter 7, such as catching up mortgage arrears, or paying non-dischargeable tax debt without accruing interest or penalties, while still offering the full protection of the bankruptcy court.
- Small business bankruptcy: Companies have the option to liquidate through a Chapter 7 bankruptcy or reorganize through a Chapter 11 or 13 bankruptcy. You may even be able to negotiate a debt reorganization plan with your creditors without going through formal bankruptcy proceedings.
- Debt settlement: Depending on how much debt you have, as well as your income and your assets, your lawyer may be able to negotiate a settlement where you pay less than the full amount owed.
- Home foreclosure alternatives: Bankruptcy isn't the only way to resolve issues with a home in foreclosure. Your attorney may be able to negotiate a short sale, a loan modification or a deed in lieu of foreclosure.
- IRS tax settlement: There are bankruptcy and nonbankruptcy solutions to tax debt. Contrary to popular belief, some tax debt is dischargeable in bankruptcy. Even if non-dischargeable, taxes can often be repaid without accruing penalties and interest through a Chapter 13 bankruptcy. Nonbankruptcy solutions include negotiating an offer in compromise, seeking an abatement of interest and penalties, and qualifying your tax debt as uncollectable.
- Adversary proceedings: We represent our own clients and clients from other law firms when things go wrong in bankruptcy. Adversary proceedings are separate proceedings used to resolve bankruptcy disputes, such as fraud, non-dischargeability of debts, noncompliance and other disputes.
- Fair credit reporting and fair debt collection: Collection agencies are bound to certain laws and regulations when they collect debt. If your creditors are acting unlawfully, you may be able to bring an action against them for violating fair debt collection or fair credit reporting.
- Post-bankruptcy counseling: There are many things you can do to improve your credit rating after bankruptcy. Among them: obtaining a credit card, not charging more than half of the available credit limit and paying your bills on time.
Do Your Homework
Do your homework. Know who you're hiring. There are many high-volume bankruptcy law firms and document-preparers out there that follow questionable practices. Don't let them take advantage of you. At the Law Office of Colby J. Leonard, we will discuss your debt relief options with you, represent you during bankruptcy proceedings and address any issues that may arise post-bankruptcy.
Contact an Indianapolis and Muncie Debt Relief Services Attorney
If you are facing debt or tax problems, you have nothing to lose by seeking an attorney's advice. You have a lot to lose by postponing it. Call 317-622-0385 (866-654-5889 toll free) or fill out the contact form on this website to arrange a free initial consultation with attorney Colby J. Leonard. We have offices in Indianapolis and Muncie, Indiana.
"We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code."
