Attorney Jerry E. Smith holds both a law degree and is a CPA, which means he understands the legal and financial implications of most situations. When you hire Jerry E. Smith, it’s like getting two professionals in one. Whether you’re grappling with bankruptcy, tax issues, divorce or other legal matters, Jerry E. Smith is a skilled and experienced attorney who can ask the right questions, explain your legal and financial options, and help guide you in your decision-making. Jerry E. Smith puts his clients’ needs first and offers the highest level of client service. To find out more about how he can help, call him for a free consultation (up to one hour) at 317-917-8680.
Chapter 7 bankruptcy is the most common and simplest type of bankruptcy protection for individuals. It is often referred to as “liquidation bankruptcy,” which means that assets are often sold to pay secured debt to creditors. Chapter 7 is also sometimes used by small businesses. After liquidating assets to pay secured debt, most or all of your unsecured debt is discharged. This includes credit cards, personal loans, department store credit, and other similar debt. Student loans, alimony and child support typically cannot be eliminated through bankruptcy.
Chapter 11 is the most complex form of bankruptcy. It is a form of “reorganization bankruptcy” often employed by individuals and corporations that need to get a handle on significant debt so that day-to-day business operations can continue. During Chapter 11 proceedings, the court helps a person or company restructure their debts and obligations while keeping the business’s doors open. Because it is the most complex, Chapter 11 is also the most expensive form of bankruptcy. Therefore, it’s often important to explore other forms of bankruptcy before deciding to pursue Chapter 11. A skilled and affordable Indianapolis bankruptcy lawyer can help you do this. Chapter 11 can be used to do a personal or business reorganization.
Chapter 12 bankruptcy is designed for farmers and fishermen who run into overwhelming debt while still generating an income. This type of bankruptcy was created to give economically stressed farmers and fishermen a framework for reorganizing their debt so they can continue with their livelihood and business operations. This highly specialized form of bankruptcy is not appropriate for individuals or companies outside the farming and fishing industries.
Often referred to as a reorganization or “wage earner bankruptcy,” Chapter 13 bankruptcy is a process whereby an individual with a steady income but overwhelming debt can pause and reestablish their financial footing while continuing to meet some of their debt obligations. For example, Chapter 13 halts any foreclosure action and allows you to remain in your family home. Chapter 13 allows you to repay a portion of your debt obligation through a court-approved repayment plan. Remaining eligible debt is discharged after you have completed the repayment plan. Chapter 13 can be used to do a personal or business (sole proprietorship) reorganization.
We will represent clients in bankruptcy discharge litigation. A bankruptcy discharge releases the debtor from personal liability for certain specified types of debts. In other words, the debtor is no longer legally required to pay any debts that are discharged.
We will represent clients in a cooperative divorce, which means both parties are willing to work in a collaborative way to negotiate an efficient and reasonable mutual agreement. We work to minimize conflict and expedite the divorce process.
Check back here soon for more information about how we can help clients achieve resolutions to various tax problems. Our goal is to help resolve several types of legal and financial challenges.
Attorney Jerry E. Smith cares deeply about each of his clients, and he proposes custom-made solutions designed for your specific legal, tax or financial situation. He knows that one size does not fit all when dealing with clients’ unique circumstances, so he is committed to listening closely to your needs and offering skilled legal advice and guidance. We would be glad to answer any questions you may have. To find out more about how we can help, call us at 317-917-8680. The initial consultation is free up to one hour.