In the third quarter of 2012, in Indiana, more than 9,100 people filed for bankruptcy. Many of them enlisted the help of a talented Indiana bankruptcy lawyer in order to make sure that doing so was both the right choice and they took the proper steps. Some of the top drivers for personal bankruptcy in Indiana include job less, medical problems, and divorce. If any of those situations occur, contacting an Indiana bankruptcy lawyer to get some advice can be a good idea. Because of their skills and experience, and the guidance that they provide, Indiana bankruptcy attorneys can be a great resource for anybody struggling to work through difficult economic times.
There are two types of bankruptcy filings that Indiana bankruptcy lawyers can help individuals with. While some will claim Chapter 7, in which the debtor can discharge all or part of the debt, debtors use a payment plan to clear all or part of their debt in Chapter 13. An Indiana bankruptcy lawyer will be able to point out the differences between the two and any special rules associated with them. For instance, individuals cannot have more than $922,975 in secured debt and $307,675 in unsecured debt in order to file Chapter 13.
In some cases, an Indiana bankruptcy lawyer might not be able to provide all of the services that an individual needs. In fact, if there is a chance that they will lose their home, individuals might want to hire a foreclosure lawyer who has a specialized set of skills. In Indiana, the average foreclosure sales price for a home is just less than $108,000, so they might be a good options for individuals looking to buy. However, if someone wants to make sure they stay in their home, they might want to work with an Indiana bankruptcy lawyer to see what options they have available to them.
Because everyone is unique, there is not likely to be one bankruptcy plan that will work for everyone. As a result, even extensive research might not uncover all of the information that individuals need to make the best choice. If that is the case, working with an Indiana bankruptcy lawyer might be the best choice. A reliable Indiana bankruptcy lawyer will be able to provide all kinds of facts, clarify any terms or rules that might be causing confusion, and provide some useful guidance and advice. Helpful links.