Filing Chapter 13 Bankruptcy in Indiana?
Myth: I can't file bankruptcy if my earnings are too high.
Fact: You can file Chapter 13 bankruptcy regardless of how much money you earn.
Chapter 13 bankruptcy is a debt repayment plan that allows you to pay off your debts over a three to five year period. Secured debts are usually fully repaid, but often at a reduced interest rate. In certain circumstances, we can even "cram" the debt and only repay the value of the collateral and not what you actually owe. You are only required to pay what you can afford, often pennies on the dollar, for unsecured debts such as credit card bills, hospital bills and payday loans.
Chapter 13 bankruptcy is a good option if you have already filed Chapter 7 within the past 8 years, have too much income to file Chapter 7 bankruptcy, if you have assets that you would lose by filing Chapter 7 bankruptcy, or if you have substantial debt that would not discharge in a Chapter 7. At the Law Office of Colby J. Leonard, we offer a free initial consultation to explain how Chapter 13 bankruptcy works.
Did You Know?
- Not only can Chapter 13 stop foreclosures by allowing you to catch up your mortgage arrears through your repayment plan, but you can also catch up past due property taxes and homeowner association dues.
- Chapter 13 can also give you an opportunity to repay non-dischargeable tax debt without accruing interest and penalties, stopping the IRS dead in their tracks while you repay them over the next three to five years!
- Even if your car has been recently repossessed, we can often force the creditor to return the car and allow you to pay it off through a Chapter 13 bankruptcy.
- Filing Chapter 13 bankruptcy offers you the full protection of the U.S. bankruptcy court from adverse creditor actions such as harassment, wage garnishment and bank account garnishment.
Free Attorney Consultation
If you are facing debt problems, you have nothing to lose by seeking a lawyer'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 Web site to arrange a free initial consultation with the Law Office of 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."
