Facing Chapter 13 Bankruptcy in Hamilton County, Indiana? Hire Our Experienced Counsel

Indiana Bankruptcy Law Firm Will Protect Your Financial Interests

If you are living in a constant state of anxiety because of too much personal or business debt, chapter 13 bankruptcy could be an effective way to stabilize your finances and give you peace of mind. For guidance in determining whether or not chapter 13 bankruptcy is the right choice for you, call Saeed & Little LLP of Indianapolis, attorneys with a collective 60 years of experience with in helping people deal with debt.

If you have a regular source of income, chapter 13 bankruptcy might be a viable option for you. Chapter 13 is a reorganization plan that will require you to use your income to repay some or all of your debt, but you'll have to demonstrate that you'll be able to afford your payment obligations under the plan. If the court decides that your income isn't sufficient, you might not be allowed to file for chapter 13.

Chapter 13 Repayment Plan

In a chapter 13 bankruptcy, certain debts, called priority debts, will be paid in full, because they are considered more important than others. Child support, alimony, wages owed to employees, and tax obligations are all considered priority debts.

The length of your repayment plan will depend upon your earnings and your debt. If for some reason you are unable to finish a chapter 13 repayment plan, the bankruptcy trustee might modify your plan or the court may decide to allow you to discharge your debt on the basis of a hardship. A job loss or debilitating illness are examples of occurrences that might qualify as a hardship.

If you're concerned about mounting debt and looking for sound, practical advice, contact Hamilton County bankruptcy attorneys Saeed & Little LLP in Indianapolis. Your initial phone consultation will be free, and will provide you with basic information about whether chapter 13 bankruptcy might be an option for you. Call us at 317-685-2426 today.