If you got behind on your bills due to unemployment, an illness or excessive medical bills not covered by insurance or divorce, you are not alone. Many people in Marion are having the same problems. Like most people, you didn’t set out to accumulate a large amount of debt that you cannot repay. Due to circumstances beyond your control, your financial situation changed and your bills piled up. If this describes your life right now, don’t worry. There is a solution to your problem that can get you back on track financially.
Whether you have tried and failed to negotiate with your creditors or you just don’t have the income to pay back the money you owe, bankruptcy may help you get out of your current financial crisis so you can stop worrying about what to say to the bill collectors when they call. If you are determined to repay the amount you borrowed or you have a home or personal vehicle you want to keep, Chapter 13 can help you. Otherwise, Chapter 7 bankruptcy will allow you to discharge your unsecured debts so you don’t have to repay them. Marion Bankruptcy Lawyers can explain the qualifications and restrictions for each type of bankruptcy so you can select the best one for your personal financial situation. Visit to learn more about how filing bankruptcy can help you end your current financial drama.
While you are in bankruptcy, bill collectors cannot call you or send you letters demanding payment. They will get an opportunity to tell the judge or trustee about your debt in a meeting early in your bankruptcy proceedings. If you choose to file Chapter 13, the trustee will determine how much you can afford to pay to each creditor and he or she will handle making those payments. You will only have to make your payment to the trustee regularly. With Chapter 7, however, unsecured debts such as medical bills and credit card charges are typically discharged without objection. If you have outstanding tax bills, talk to your Bankruptcy Lawyers in Marion IN to find out how you may also be able to have them discharged in bankruptcy.
Contact Ripke Law PC for more details.
