When it comes to filing bankruptcy, there are two choices for those with too much personal debt. One type is called Chapter 7. It allows you to discharge all of your debt. The second type is Chapter 13. This chapter is used to reschedule debt payments on a more affordable payment plan which can be done on a 3 to 5 year plan. Not everyone can qualify for a Chapter 7 when filing bankruptcy Indiana. Debts like alimony and child support, student loans and debt someone gets as a result of fraud, cannot be discharged when filing bankruptcy Indiana.
Filing bankruptcy indiana is may be a way to stop foreclosure Indiana. This is where a good Indiana foreclosure lawyer can help give you the best advice. If you are facing a home foreclosure, bankruptcy attorneys Indiana can also give good advice. Not every home has to be lost because of filing bankruptcy Indiana. Because of the recent economic downturn and the crash of the housing market, many people are finding the need for filing bankruptcy Indiana. Indiana bankruptcy attorneys are hard at work, helping people who are filing bankruptcy Indiana to prevent the loss of their homes.
Not everyone filing bankruptcy Indiana is irresponsible. Prominent citizens, such as a few presidents of the United States have had to file for bankruptcy. In fact, presidents Jefferson, Grant, McKinley and Lincoln all ended up filing for bankruptcy at some point during their adult lives. If you need help you don’t have to feel ashamed about filing bankruptcy Indiana. Sometimes certain situations come up and filing bankruptcy Indiana can’t be helped. However, filing bankruptcy Indiana is not something one should take lightly.
There are some serious consequences when it comes to borrowing money after you have filed for bankruptcy. You can still get a car though after filing bankruptcy Indiana. A few car lenders are out there that will loan money to buy a car, even after filing bankruptcy Indiana. You just won’t be able to get credit cards and such at the best interest rate. Even a car loan will cost you more money after filing bankruptcy Indiana. Talk to a bankruptcy lawyer to find out what your options are for filing bankruptcy. Your lawyer can determine which Chapter you qualify for and can provide the paperwork and do the actual filing for you for a fee. Filing bankruptcy with the help of an experienced bankruptcy lawyer is highly advised, rather than trying to file on your own.