So many people are hesitant to put an end to their debt issues by filing for bankruptcy because they are worried that they will be judged by the world and by themselves as being a failure. Unfortunately, many people have come to associate bankruptcy with being a...
Miller Flannery Law LLC
Can you protect your assets against bankruptcy with estate planning?
As you work on your estate plans, one of the things to look into is setting up a trust. An irrevocable trust helps you protect your assets as you age and keeps them safe. It may also lower your tax burden and prevent the loss of assets if you are in debt and face...
Have you co-signed on a student loan that has gone unpaid?
When you co-sign on a loan, you’re telling the lender that you will pay the loan if the main borrower does not. The penalties for failing to keep the loan up to date can include a hit to your credit, the loan going into collections, and a possible court judgment...
When do you need a trust?
An important part of estate planning is deciding exactly what to include in your estate and how to go about leaving your assets to your heirs. One option is a trust, which Charles Schwab explains is an agreement about asset distribution that can usually prevent the...
Does Chapter 7 discharge recent credit card debt?
When you begin considering filing Chapter 7 bankruptcy in Indiana, likely one of your biggest reason is that you have too much consumer debt and Chapter 7 discharges virtually all of it, including your credit card debt. If, however, you plan to go on using your credit...
Pros and cons of Chapter 13 bankruptcy
If you are an individual who has chosen to get out from under crushing debt in Indiana by filing for bankruptcy, there are usually two avenues available to you: Chapter 7 and Chapter 13 bankruptcy. Each works in different ways, each involves its own eligibility...
Should you use retirement savings to avoid bankruptcy?
Filing for bankruptcy in Indiana can be a momentous decision. No one expects to sink into crushing debt, and the decision to file can be traumatic for some. Due to the stigma associated with bankruptcy, you may feel tempted to go to extreme lengths to avoid filing....
Bankruptcy filings see only slight decline
As the new year gets off to a start, many people in Indiana may be wanting to focus on finding a solution to their debt in 2019. For some consumers, January can be exceptionally hard as the post-holiday spending spree can either propel them into debt or make an...
2018 holiday spending trends
People in Indiana who struggle with debt rarely end up in such a position from just one holiday season. Nonetheless, this time of year can definitely put a damper on a consumer's attempt to pay down debt or to avoid racking up more debt. Despite the best of...
What happens if you die without a will
If you die without having written a will, your estate is called "intestate" and Indiana has very specific rules about how your estate will be distributed. Without a will, your estate might not be distributed according to your desires. It also might not be distributed...