Guiding You Through Chapter 7 Bankruptcy In Indianapolis, IN

For many people, Chapter 7 bankruptcy is the easiest and most effective form of bankruptcy protection. Depending on certain exemptions, your remaining assets may be sold, or liquidated, putting money in your pocket for the paying off of debt. The goal is to get rid of most or all of your debt.

The Chapter 7 bankruptcy Indianapolis, IN, citizens experience through our office discharges unsecured debt, meaning loans not secured by property. This can include medical bills, credit card bills and other loans. Student loans, certain taxes and past-due child support do not come under the umbrella of Chapter 7 bankruptcy, and so cannot be discharged. It is essential that you have the expertise and advice of an experienced lawyer before you file.

At your consultation with the Law Office of Colby J. Leonard, we will talk about what of your assets may be liquidated, and will do all we can to see that you have no surprises in store. We will also determine whether or not you meet the court requirements for Chapter 7 bankruptcy. Your income, completion of a credit counseling course and certain documentation will indicate your eligibility. If you have been turned away in the past, we might have some ideas that others hadn’t yet thought of.

Things To Know About Chapter 7 Bankruptcy

- Certain assets, or things that you own, are exempt. That means the court cannot take them from you to be sold and repay your creditors. However, you have to claim these exemptions in order benefit from them. At the Law Office of Colby J. Leonard we have the experience to make sure you take full advantage of every exemption available. Generally, each individual is entitled to keep $9,350.00 in personal property, and $17,600.00 in residential real estate. 401K’s, and other retirement plans are generally 100% exempt.

- You can stop wage garnishment, collections on lawsuit judgments, creditor harassment and bank account levies with Chapter 7 bankruptcy, as well as see certain income tax debts discharged.

Schedule Your Free Consultation

It is vital that you seek the advice of an experienced attorney when you want to file for Chapter 7 bankruptcy in Indianapolis, IN. Colby J. Leonard is happy to support you from beginning to end, even after discharge. Our fees are very reasonable, and we are glad to discuss payment plan options. Call 317-894-0626 or contact us through the web site to set up your free first appointment.