How a Bankruptcy Attorney in Washington Indiana Can Help You

If your credit cards are maxed out and you are struggling to even make the minimum payments, you may be considering your options to get your debt under control. One of the most popular and effective ways to reduce or eliminate debt quickly is by filing for bankruptcy. A bankruptcy attorney in Washington, Indiana can help you explore your options and determine if using the federal law to reduce your debt is the right choice in your situation.

Before meeting with an attorney for a debt consultation, gather all of your bills and proof of your income and assets. Your attorney will evaluate your financial situation based on the information you provide. After performing some calculations, your lawyer will be able to tell you whether you qualify for Chapter 7 bankruptcy. By filing Chapter 7 bankruptcy, you can eliminate a lot of debts. Some debts, though, do qualify for discharge through Chapter 7. A lawyer can tell you whether the type of debts are dischargeable through Chapter 7 and which, if any of your assets you will be able to keep.

If your income is too high for Chapter 7 or if you want to try to keep your home, Chapter 13 may be a better option for you. While Chapter 13 requires you to make payments on your bills, it also offers some flexibility that Chapter 7 does not. The bill payments you’ll be required to make will be based on your ability to pay. With Chapter 13, you will get to keep your personal assets as long as you complete the payment plan. Most courts use three year plans but the term may be extended to five years.

Being over your head in debt is often scary. When you don’t know what to do, a bankruptcy attorney in Washington Indiana may help you by clearly explaining your options. If you decide to file for protection under federal bankruptcy law, your lawyer can help you with the paperwork and ensure that all of the steps are followed so your debt reduction plan is successfully discharged and you can move on to a better financial life.

   

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