Hancock County - Chapter 7

If you feel like you are drowning in debt and want a fresh start, chapter 7 bankruptcy could be right for you. Chapter 7 is a liquidation process in which the bankruptcy trustee collects all your assets and sells any that are not exempt, using the proceeds to pay your creditors.

If you need advice about whether or not to file chapter 7 bankruptcy in Indiana, the attorneys at Saeed & Little LLP in Indianapolis have over 60 years of combined experience in bankruptcy law and can help you make an informed decision.

Indiana Exemptions

Certain debt, such as a limited amount of the equity you have in your home, your car, your retirement account, and some personal property will likely be exempt in Indiana, meaning that it will be protected from creditors and you will be allowed to keep the property. Under Indiana law, you may also be able to claim certain federal exemptions, such as survivor's benefits for judges and death and disability benefits of government employees.

If you have possessions that are secured by a loan and you are current on your payments, the equity is covered by your exemptions, and if you agree to continue to make the loan payments, generally you will be allowed to keep this property through the bankruptcy.

Non-Dischargeable Debt

Certain debts are not erasable in chapter 7 bankruptcy in Indiana, including student loans, back child support, alimony, fines and penalties for violating the law, income tax debts going back three years, and debts for personal injury or death you caused by driving while intoxicated.

Our Lawyers Have the Experience You Need

To get legal advice concerning whether or not chapter 7 bankruptcy might be the right choice for you, contact the Hancock County bankruptcy lawyers at Saeed & Little LLP online or call 317-800-6161 for your free initial telephone consultation.