Our Bankruptcy Blog

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 [...]

How Do You Qualify for a Loan Modification?

If you’re having a hard time making mortgage payments, you may want to know, how do you qualify for a loan modification? A mortgage modification changes your repayment plan and lowers your monthly payments. You might be eligible if you show your lender your financial situation has changed and you can’t make payments. Is loan modification a good idea? Attorney and CPA Jerry E. Smith has found that loan modifications usually don’t prevent people from seeking bankruptcy protection. Gettin [...]

Can I File Bankruptcy Without My Spouse?

Indiana is a non-community-property state, which means that you can file bankruptcy without your spouse. You have the option of filing as an individual or as a couple, depending on which option works best for you. Here are some examples of non-community property:

  • Items you brought into the marriage that were purchased in your name only
  • Real estate, vehicles, etc. that you purchased without your spouse as co-owner
  • P [...]

Can You Go to Jail for Credit Card Debt?

“Can you go to jail for credit card debt?” is a common question among consumers struggling with overwhelming debt. The short answer is “no,” because “Debtor’s Prisons” were an archaic tool used by lenders in the 1700s and 1800s in the U.S. to punish poor people who didn’t pay their debts. Debtor’s prisons were eliminated in many U.S. states in the mid-1800s and are now non-existent. The U.S. government has outlawed imprisonment for failure to pay a debt. However, there is [...]