Chapter 7 bankruptcy is one of two popular bankruptcies that people file for, and to qualify for a chapter 7 bankruptcy, an individual must prove their income is lower than the median income for that individual’s family size in their particular state. Most people that face a bankruptcy don’t understand their rights or how to deal with this type of financial struggle, which is why hiring a bankruptcy attorney is highly advised. Finding bankruptcy attorneys Indiana is best achieved online. Choosing the right bankruptcy attorney Indiana requires some research. Chapter 13 bankruptcy is the other common chapter people file when facing financial struggles.
Chapter 13 bankruptcy actually allows an individual to restructure their debt by developing a 3 to 5 year payment plan to pay off all debts that are filed under Chapter 13. Bankruptcy attorneys Indiana should be knowledgeable with both types of bankruptcies that people file for. However, it’s not uncommon for a bankruptcy lawyer indiana to be more experienced with on chapter than the other. It’s advised to take the time to read reviews about bankruptcy lawyers Indiana, and it’s also recommended to speak with several attorneys that specialize in handling bankruptcy cases as well. Every state has their own set of guidelines dictating how bankruptcies are handled, and bankruptcy attorneys Indiana must abide by those guidelines.
Therefore, if you’re filing for bankruptcy in Indiana, it’s important to hire a lawyer that is familiar with Indiana’s laws regarding bankruptcies. In April of 2012, the Bureau of Labor Statistics estimated that 5.2 million Americans have been unemployed for a period longer than 6 months. There are credit counselors that can be hired before filing for bankruptcy that will help a certain percentage of people avoid filing for bankruptcy indiana. It’s estimated that 1.25 million Americans will end up filing for bankruptcy during this year. Bankruptcy attorneys Indiana can be discovered in social networks and legal sites.