Boone County Chapter 13 Attorneys Put Their Experience to Work For You

Have Bankruptcy Questions? Contact Our Indianapolis Bankruptcy Law Firm

In a chapter 13 bankruptcy, a debtor is allowed to keep his property but will be required to pay back all or part of his debts over a three to five year period. If you're considering filing for chapter 13 bankruptcy in Boone County, Indiana, contact Saeed & Little LLP for effective and realistic debt relief counseling.

Eligibility for Chapter 13 Bankruptcy

Residents of Boone County, Indiana must file for chapter 13 bankruptcy in the Indiana Southern District Bankruptcy Court with locations in Indianapolis, New Albany, Evansville, and Terre Haute. Any individual, even someone who is self-employed or operating an unincorporated business, can file for chapter 13 bankruptcy relief as long as their unsecured debts are less than $360,475 and their secured debts are less than $1,081,400. These amounts are adjusted periodically to reflect changes in the consumer price index. A corporation or partnership is not eligible for chapter 13 protection.

According to U.S. federal law, individuals are not eligible to file for chapter 13 bankruptcy if they had a prior bankruptcy petition that was:

• Dismissed during the preceding 180 days
• Dismissed due to the debtor's willful failure to appear in court or comply with its orders
• Voluntarily dismissed after creditors sought relief from the bankruptcy court to recover property upon which they hold liens

A debtor cannot file for chapter 13 bankruptcy unless they have received credit counseling from an approved credit counseling agency individually or as part of a group within 180 of filing. Exceptions to this requirement are sometimes made in emergency situations or if there are insufficient approved agencies to provide the required credit counseling.

Time for a Positive Step

If you need guidance relating to chapter 13 bankruptcy, contact Saeed & Little LLP online or call 317-800-6181 for a free telephone consultation to discuss your situation and get back on the road to financial stability.