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Hiring a Bankruptcy in Indiana

Who Can File Bankruptcy Attorney in Indiana?

In order to file for bankruptcy in Indiana, you will need to meet the following requirements:

  • Reside in, own property in, or operate a business within the state of Indiana
  • Honestly disclose all of your financial information including assets and debts
  • have not filed bankruptcy in the last 6 years
  • have unsecured debts which you are unable to pay

What Do I Need To Know Before Filing For Bankruptcy in Indiana?

 

Before filing for bankruptcy in Indiana you will need to participate in an approved credit counseling service.  You will also need to undergo a means test in order to determine whether or not you are eligible for Chapter 7 bankruptcy.

 

What Type of Debts Can Be Discharged As Part of a Bankruptcy Proceeding in Indiana?

 

All debts are categorized into one of two categories.  These categories are secured and unsecured debts.  Only unsecured debts can be discharged as part of a bankruptcy proceeding in Indiana.  In order to determine whether or not a debt is in fact an unsecured debt, you will need to determine whether or not there is specific collateral which is being used to secure that debt.  For instance, a mortgage is a secured debt because the house is used for collateral in order to secure the debt.

 

Will I lose my house and car if I file for bankruptcy in Indiana?

 

All states have their own set of property exemption rules which will govern what property is exempt from seizure as part of your bankruptcy proceeding.  The property exemption rules in the state of Indiana is as follows:

  • Homestead exemption of up to $15,000 in real estate
  • Up to $300 in intangible personal property
  • Up to $8,000 in other real estate or tangible personal property

Do I really need to hire an Indiana bankruptcy attorney to represent me?

You are not required by law to hire an Indiana bankruptcy attorney in order to file for bankruptcy.  This however, does not mean that you should proceed without the assistance of a bankruptcy attorney.  In order to maximize the chances for a successful outcome in your case, it is essential that you retain the services of an experienced bankruptcy attorney.

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