The New Bankruptcy Law?
Indianapolis Bankruptcy Lawyers Helping You Understand Changes to Bankruptcy Law
Get the Truth About Your Ability to File Bankruptcy Today
The legal history of the right to gain a discharge of debts through bankruptcy runs deep in our country. At the same time, there have always been bankruptcy myths — that you must be destitute to file for debt relief, for example, and that filers can keep no personal property, for example. Neither is even remotely correct.
A new set of bankruptcy myths arose with the most recent major revision to the U.S. Bankruptcy Code: the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). There was a general fear that new restrictions would prevent most people from filing for bankruptcy protection.
Myth Number 1: New Bankruptcy Laws Made Filing Difficult or Impossible
The new bankruptcy law did make it more difficult for some people to file for Chapter 7 "debt liquidation" bankruptcy due to income level restrictions. It did introduce a credit counseling requirement for all filers, but that is an entirely manageable requirement. However, it is most important to recognize that almost anyone eligible to file personal bankruptcy prior to 2005 can still file today.
A Focused Legal Team Working Together to Resolve Your Problems
Our strengths at the longstanding Indianapolis law firm Redman Ludwig, P.C., include our commitment to straight talk and efficient counsel on issues ranging from non-bankruptcy solutions to rebuilding credit after you file. We leverage a collaborative team atmosphere and may bring the knowledge of several respected Indiana bankruptcy lawyers together to find the best path to recovery for you.
For a Free, Informative Consultation, Call 866-660-6928
Whether you are facing serious debt problems and want to talk through your options for filing Chapter 7 bankruptcy or Chapter 13 bankruptcy, or you have been wondering how changes to bankruptcy law impact your ability to file, contact our attorneys today. We respond quickly to client needs with caring, dependable, no-pressure counsel.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.