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chapter 7 Archives

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 cards right up until the time you file bankruptcy, you may want to reconsider that decision.

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. Perhaps you have even thought about dipping into your retirement savings in order to pay off your debts.

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 existing debt situation even worse.

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 intentions, buying during the holidays seems to be one of those things that is hard to resist. 

When does the fiscal year end?

The end of the fiscal year is probably a big time for your business: Many Indiana entrepreneurs have their schedules lined up for their fiscal, tax and calendar years. For sole proprietorships and one-person LLCs, this coordination is, in fact, an IRS mandate.

Baby boomers and bankruptcy

People in Indiana who are concerned about making their financial ends meet and who may even be contemplating filing for bankruptcy are far from alone. Even as the economy continues to be strong relative to the years of the great recession, many factors are coming together to contribute to the need for multiple consumers to seek debt relief from bankruptcy.

What debts can be erased with Chapter 7 bankruptcy?

As a resident of Indiana, there are a number of different options available to you if you feel like you need to file for bankruptcy. Each type comes with its own benefits and drawbacks. Today we'll take a look at Chapter 7 bankruptcy and the types of debts that it can erase.

Secured and unsecured credit

If you are one of the many people in Indiana who cringes every time you look at your bank balance or go to the mailbox and see a pile of bills waiting for you, you may well be wondering how you can get out from under a seemingly endless supply of debt. In evaluating your options for this and for creating a brighter financial future for yourself, it is important that you understand the differences in the two primary forms of debt - secured and unsecured.

Discharging taxes via bankruptcy

With the deadline to file 2017 taxes recently passed, many Indiana residents may have chosen to file for extensions because they were unable to pay the amount of money they owed in federal income tax. This is not an uncommon thing. However, for some people the inability to pay income tax is linked to broader financial difficulties. In these situations, bankruptcy may provide much-needed relief.

Benefits to filing for bankruptcy

If you are one of the many people in Indiana who cringe when it is time to go to the mailbox for fear that you will receive yet another bill, you are not alone. You may also likely avoid answering your phone or even checking your email in the event that a debt collector is once again contacting you. Even if you know you that you legitimately owe on a particular debt, when you do not have the money to pay it, you may experience severe stress.

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