Greenwood Bankruptcy Attorney

Find Your Pathway to Financial Recovery

When people get stuck with overwhelming debt, they can face consequences such as foreclosures, lawsuits from creditors, wage garnishment, and vehicle repossessions. Even though it can be easy to lose hope, know that there are options to help you get your finances back on track. Bankruptcy is a debt relief solution that helps many people get their debt under control. At Jackson & Oglesby Law LLC, our Greenwood bankruptcy lawyers help clients fully understand the bankruptcy process and its benefits.

Whether you are trying to file for a Chapter 7 or Chapter 13 bankruptcy, we can help you take action so that you have the best chances possible of discharging your debt and regaining financial stability. We are here to answer your questions and to help you dispel any misleading bankruptcy myths you have heard.

Contact our Greenwood bankruptcy lawyer by calling (888) 713-5148 today!

What Are the Steps to File for Bankruptcy in Greenwood, IN?

The process of filing for bankruptcy in Greenwood, IN, involves several key steps, beginning with a comprehensive financial assessment. Initially, potential filers must complete mandatory credit counseling from an accredited service, which serves to evaluate available options and confirm bankruptcy as the best course of action.

Subsequent steps include collecting relevant financial documents such as income, assets, liabilities, and recent tax returns. This information serves as the basis for completing the bankruptcy petition, which must be filed with the U.S. Bankruptcy Court for the Southern District of Indiana. Filers may need to attend a mandatory meeting of creditors, known as a 341 meeting, where creditors can ask questions regarding the bankruptcy case. Legal guidance from Jackson & Oglesby Law LLC ensures each step is carefully navigated, increasing the likelihood of a favorable outcome.

Understanding Your Bankruptcy Options In Indiana

Bankruptcy is not a one-size-fits-all solution. It’s important to understand the types of bankruptcy available so you can choose the path that makes the most sense for your unique situation. In Indiana, most individuals and families file under either Chapter 7 or Chapter 13 of the U.S. Bankruptcy Code.

• Chapter 7 Bankruptcy is often referred to as “liquidation bankruptcy.” It allows you to discharge most unsecured debts, such as credit cards, medical bills, and personal loans. While some assets may be sold to pay creditors, Indiana offers exemptions that often allow individuals to keep most or all of their property.
• Chapter 13 Bankruptcy is known as a “reorganization bankruptcy.” This option allows you to restructure your debt into a manageable repayment plan that spans three to five years. It’s a common choice for individuals who want to catch up on missed mortgage or car payments without losing their home or vehicle.

Our Greenwood bankruptcy attorneys will evaluate your income, assets, debts, and financial goals to help you determine which chapter is right for you.