Our Bankruptcy Blog

Statute of Limitations on Debt in Indiana

The statute of limitations on debt in Indiana varies, depending on the kind of debt it is. For example, car loan debt has a 4-year statute of limitations, whereas state tax debt has a 10-year statute of limitations. Many other debts have a 6-year statute of limitations in Indiana. A “statute of limitations” refers to the amount of time a creditor has to file a lawsuit to collect an unpaid debt. Even though the statute of limitations on a debt has passed, you should still proceed cautio [...]

Indiana Bankruptcy Exemptions

State and federal bankruptcy exemptions are designed to help you protect some property when you are going through the bankruptcy process. In Indiana, most people can protect some assets through exemptions, depending on what they own, their level of income and which bankruptcy chapter they file under. Some individuals can exempt everything they own, while others may have to sell some assets to pay creditors. For the most part, you can exempt items you need to maintain a job and household.&nb [...]

How to Declare Bankruptcy on Credit Cards

Credit card debt can build up quickly until you feel overwhelmed and struggle to make even minimum monthly payments. Interest charges and late fees make the situation worse. Sometimes it’s important to pause and look at your other options. If you’re wondering how to declare bankruptcy on credit cards, there are some simple steps to follow, depending on your circumstances. The first thing you want to do is hire an affordable and skilled bankruptcy la [...]

What Are the Repossession Laws in Indiana?

Repossession laws come into effect when you have fallen behind on your payments for consumer items and the sales contract or terms of the purchase include a clause saying that the lender can take back the property if you default or are late on payments. The property involved can be a car, SUV, truck, kitchen appliances, furniture or other items. If your debt is mounting, you may have skipped some payments on your auto loan or department store bill.  While some companies may allow you a [...]

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