We all face challenges when it comes to our spending, and sometimes things get out of control. Credit card companies will never tell you that their revolving credit can only make things worse. They attempt to sell you on making the minimum monthly payment, as an affordable option to give you extra cash.
The mortgage and auto lenders talk about easy financing to get the latest and greatest cars and homes. The situation is compounded by the fact that retailers are quick to offer you credit; and if you are not careful, you are soon struggling with a mountain of debt.
Things get more complicated if you have a business that failed. The last few years have been challenging situations for everyone. You took on your debt under the assumption that things would continue as usual, or improve. But the situation became worse when you were not able to operate as planned, thanks to the lockdowns and volatility in the economy.
Despite all of these issues, there is a way to get through this by using bankruptcy discharge. The bankruptcy laws protect you and ensure that you can discharge these debts without having all of the financial burdens following you around.
The process involves what is known as Chapter 7 bankruptcy. A bankruptcy discharge is when you are released from all personal liability over the debt. You are not legally obligated to make the payments after the discharge. A discharge permanently prevents creditors from taking any action to collect, including communications, letters, phone calls, and personal contacts.
This applies to things such as
This makes it easier for you to start fresh and get control of your finances. A bankruptcy discharge attorney can help. We are professionals who know the bankruptcy laws and what to do to address your debt. Call Jerry E. Smith at (317) 917-8680 and see why we are your go-to bankruptcy discharge attorney. We offer weekend and evening consultations with same-day filings.
Jerry E. Smith is a Certified Public Accountant (CPA) and a bankruptcy attorney. For 13 years he has been helping people just like you to solve their debt issues. This experience means that he can work with you to discharge your debt and make a fresh start.
Jerry is a member of:
He has the connections and knowledge to help you put your money problems behind you. Bankruptcy is a complex process, and you want to work with someone who understands it from top to bottom. Call our discharge bankruptcy lawyer today at (317) 917-8680 and get your free consultation.
We will put our knowledge and experience to work for you so you can move on with your life. Distressing situations happen to the best of us, and you need someone on your side who will look out for your best interests.
Chapter 7 bankruptcy is designed to protect you. This means that you will receive many different benefits including:
A bankruptcy discharge will give you a fresh start and a brighter future.
Contact our bankruptcy discharge lawyer at (317) 917-8680 and let us show you what this can do for you. You have a chance to start over, and now is the time to take advantage of this opportunity.
You must show that your financial issues are real and that you are seeking bankruptcy as a way of restarting. The judge will look at several factors, including:
None of this is designed to embarrass you, but to document that you are facing financial hardship and need to discharge your debt in bankruptcy. You can keep your car and home by working with the courts and listening to our advice.
In Chapter 7 bankruptcy, the court will put a stay on your debts. This will stop creditors from . . .
The court takes legal possession of your property and appoints a trustee to oversee the case.
The trustee will review all of your finances. They will arrange a meeting between you and your creditors. You and your bankruptcy attorney will go to the courthouse to review your filing and answer questions about your financial situation.
You will retain the exempt property that can’t be sold, such as your personal possessions. Creditors cannot attach a lien on this property and it is yours to keep. Nonexempt property can be sold and the money will be used to pay back your creditors.
Once the process is over, the court will discharge (or eliminate) those debts that don’t have to be paid. There are some debts that can’t be discharged in bankruptcy, including:
You will have to pay these debts, but the most pressing ones that are not secured to any real property are discharged. This process will take from four to six months to complete after the initial filing.
Contact us today at (317) 917-8680 about discharging debt in Indianapolis. We offer a free consultation and will go over your options. Chapter 7 is one possible avenue that can help you to make a fresh start.
A bankruptcy dismissal occurs with a Chapter 13 filing. This is when you get an order protecting you against your creditors. It is often used pending the sale of an asset (such as your home) that will pay everyone off.
The court grants the order of protection and the trustee oversees the creation of a plan. Once everything is completed, the dismissal occurs and you no longer have to worry about the threat from outstanding creditors. Noting is discharged in these proceedings and you can move on with your life after everything is finished.
Another option is to negotiate with your creditors about how you can repay them over a period of three to five years. You can lower your monthly payments and you may not be forced to sell your home.
If you are still facing financial challenges, you can convert from a Chapter 13 to a Chapter 7 bankruptcy. You can apply to discharge your debt and get another court-ordered stay against your creditors. You get more flexibility in negotiating with your creditors and can figure out the best direction moving forward.
We recommend visiting with Jerry E. Smith to explore your options moving forward. He is a CPA and a bankruptcy attorney who can help you to find the right solutions.
Contact Jerry Smith at (317) 917-8680 for help today. He will go over your options and help you to find the right solution.
The biggest drawbacks are that you could see your credit score decline and you may need a secured deposit to get credit. This will last for a little while, but over time you can start to rebuild your credit score and get on the right track.
You should reduce your spending, limit your borrowing, pay everything on time, and set a clear plan of action.
Creditors can’t call you, send you letters, garnish your wages, or contact you in any way.
There is no minimum amount of debt to file for bankruptcy. The key is comparing your income to the total amounts of debt you owe. This helps to create a plan that lets you start over.
Bankruptcy is an option that can get you out of the mountain of debt. If you are having sleepless nights or worrying about how to pay your bills, contact Jerry E. Smith, CPA and bankruptcy attorney, at (317) 917-8680.
If your financial situation is terrible and you’re looking for a way to improve your life, debt settlement may be the right choice. Attorney Jerry E. Smith helps people like you get debts settled and discharged through bankruptcy so they can have a better financial foundation. To discuss whether debt settlement is right for you, call us for a free initial one-hour consultation at (317) 917-8680.