As bankruptcy has become more common, the stigma regarding it has started to fade. Bankruptcy provides a legal process to help distressed debtors reorganize to make their debt more manageable. If your debt feels insurmountable, call an Indianapolis bankruptcy lawyer at Camden & Meridew, P.C. for help.
At Camden & Meridew, we understand the pressure caused by excessive debt and are ready to help you examine your debt situation, evaluate the best course of action, and, if appropriate, file for bankruptcy protection.
How an Indianapolis Bankruptcy Lawyer at Camden & Meridew Can Help
Bankruptcies can be caused by major negative financial events, such as the loss of a job, large medical bills, and divorce. When you work with Camden & Meridew, an Indianapolis bankruptcy lawyer will really listen to get a complete picture of your specific situation. If bankruptcy is not the right option for you, we will explain your bankruptcy alternatives. If bankruptcy is the best route for you, we will explain the entire process and be with you throughout your bankruptcy case.
How Bankruptcy Works
At Camden & Meridew, we understand how the different types of bankruptcy filing work and can identify when bankruptcy alternatives are a better option. So that you can meaningfully participate in your case, we will help you understand the different types of bankruptcy in Indiana and what each can and cannot do for you.
Indiana chapter 7 bankruptcy is what most people think of as “bankruptcy.” In a chapter 7 filing, the petitioner asks the court to eliminate or “discharge” certain debt in return for giving up certain property. Property that is not exempt will be sold, and the proceeds will be used to pay your creditors. If you file a chapter 7 bankruptcy, you will get rid of most, if not all, of your debts.
With Indiana chapter 13 bankruptcy, your debt is not eliminated but, instead, is adjusted, and you submit for court approval a plan for paying off the debt. In both cases, creditors may not pursue collection efforts while the bankruptcy case is pending. A Chapter 13 bankruptcy gives you a reasonable payment plan with your creditors over three to five years.
Regardless of whether you file a Chapter 7 or a Chapter 13 bankruptcy, the court looks at the total amount of debts and liabilities and provides a way for debtors to keep a portion of their assets while providing relief from some or all of the debt. It is important to note, however, that some types of debts cannot be discharged.
Working with an Indianapolis Bankruptcy Lawyer from Camden & Meridew
After reviewing your financial circumstances and explaining your debt management options, we will help you choose the best option for your financial situation. At this stage, we commonly field questions like these:
- Is bankruptcy right for me?
- Can you stop foreclosure on my home?
- Should we file chapter 7 or chapter 13 bankruptcy?
- How long will a bankruptcy remain on my credit report?
- What do we need to do to file bankruptcy?
At Camden & Meridew, we will inform you about bankruptcy and non-bankruptcy options, but our approach is to use bankruptcy alternatives if possible. We also provide non-bankruptcy debt assistance with items such as these:
- Debt settlement;
- Loan modifications;
- Short sales; and
- Debt consolidation.
Whether you live in Indianapolis, in surrounding areas, or elsewhere in Indiana, we can help get creditors off your back and get a fresh start.
Why You Should Call an Indianapolis Bankruptcy Attorney from Camden & Meridew
Chapter 7 and chapter 13 bankruptcies require assistance from a skilled and experienced bankruptcy attorney. Attorney Julie Camden represents individuals in both chapter 7 and chapter 13 bankruptcy. She offers free consultations and fixed fee arrangements for almost all bankruptcy cases. For more information, see some of Julie’s blogs on the topics of bankruptcy and debt management:
- Bankruptcy Myths
- What to Expect When Filing Bankruptcy
- Chapter Seven Bankruptcy
- Chapter Thirteen Bankruptcy
- Wage Garnishment
If you’re over your head in debt in Indianapolis or elsewhere in Indiana, let Camden & Meridew, P.C. help. For a free consultation with Indianapolis bankruptcy lawyer Julie Camden, call 317-770-000 or complete our online contact form.