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Originally Posted On: Indianapolis Bankruptcy Attorney – Indy Legal Services
Indy Legal Services Assist Indianapolis Clients Filing For Bankruptcy
In keeping with their commitment to providing best-in-class legal assistance to individuals and businesses that are filing for bankruptcy. Veteran bankruptcy attorney Indianapolis (and surrounding areas) Indy Legal Services offers dependable legal representation to clients looking for a fresh financial start. Under federal law, both individuals and businesses that are struggling with outstanding debt and are facing financial hardships have the right to file for bankruptcy protection.
Credit card debt as well as other unsecured debts, facing foreclosure, wage garnishment, illness, and unexpected medical bills, repossession, loss of income, and harassment from your creditors are among the financially difficult situations that may warrant filing for bankruptcy. Due to the fact that the process of filing for bankruptcy is complex and it requires extensive paperwork, it’s in your best interest to choose to file for attorney-assisted bankruptcy. If you fail to provide all the documents required and you get audited, you can be charged with fraud.
Your trusted bankruptcy attorney Indianapolis will provide you with expert legal advice in terms of filing for the right type of bankruptcy, help you navigate the legalese, and guide you every step of the way. Proper legal representation, based on expertise honesty, and attorney-client communication in a timely and efficient manner, is not only key to a successful outcome of your case but also gives you much-needed peace of mind during the entire legal process. The assistance of an experienced, savvy, and trustworthy bankruptcy attorney in Indianapolis is thus invaluable.
If you are filing for bankruptcy protection as an individual for the purpose of eliminating credit card debt and/or other unsecured debts, income tax debts, personal loan debts, unexpected medical bills, judgments, or lawsuit debts, then your bankruptcy lawyer Indianapolis will typically advise you to file for Chapter 7 bankruptcy or liquidation, which is the most common type of bankruptcy. This is also the most popular type of bankruptcy because it provides the quickest debt relief while abiding by the law, your assets being sold off in order to repay the debts and get you back on your feet.
Chapter 13 bankruptcy or rehabilitation, in the form of a repayment plan, is typically considered when a client fails to qualify for Chapter 7, primarily due to a higher income than the median income for Indiana. Once this repayment plan is complete, the remaining unsecured debts will be discharged. The level of your annual income represents one of the main eligibility criteria for liquidation and fast debt relief. Your bankruptcy lawyer Indianapolis will explain where you stand in terms of eligibility for Chapter 7 ( debt relief) or Chapter 13 ( debt consolidation). It’s also worth noting that you may qualify for one of the other two types of bankruptcy – Chapter 11 ( reorganization), typically filed for by businesses, and Chapter 12, used by family farmers or fishermen with a regular annual income.
For more information about Indy Legal Services, feel free to visit www. indylegalservices.com. Individuals and businesses that are considering filing for attorney-assisted bankruptcy should not hesitate to get in touch with Indy Legal Services by calling (317) 792-5734 or by filling out the online contact form to set up a free, no-obligation consultation. During this initial complimentary consultation, an experienced and trusted bankruptcy lawyer Indianapolis will expertly evaluate your case and discuss with you the best bankruptcy protection options for you to financially start afresh and help you move forward.