Nothing can be more frustrating than realizing that you cannot pay off all of your debts. You begin to worry about what property you will be able to keep and what you may lose. In addition, you may be concerned about what if any of your debts will not be discharged if you file bankruptcy. To successfully deal with this situation you need expert advice.
Goshen bankruptcy attorney Loraine P. Troyer boasts nearly 30 years of experience helping individuals and families start on the road to financial freedom through bankruptcy. While your friends and family members may graciously offer you ‘advice’ and try to provide you with information — you should talk with a legal professional as your case may be unique or the law may have changed.
As one of the more experienced bankruptcy attorneys in Indiana, Loraine P. Troyer can help you to understand your options and will even meet with you initially at no charge. During this free consultation, she will explain both Chapter 7 and Chapter 13 bankruptcy and discuss the options that will work best for your individual situation. If you do not need or decide not to file bankruptcy you will not be charged any fees. If you do decide to file bankruptcy, the appointment time will be deducted from the flat rate fee that you will be quoted at the appointment.
Individuals file bankruptcy for many reasons — such as medical bills, divorce or separation, loss of employment or the accumulation of debt — all situations that require the expert advice of a professional and experienced bankruptcy attorney.
A Chapter 7 bankruptcy is the most common bankruptcy filing option. It discharges most unsecured debts — a debt that is not attached to property you own like medical or credit card debt. Filing under Chapter 7 gives you choices on what you would like to do with your secured debts, such as your mortgage or car loan.
A Chapter 13 bankruptcy puts into effect a payment plan where debts are paid over a period of 3 to 5 years. Some of these debts are paid through a Chapter 13 trustee. This type of bankruptcy is more complicated — and thus more expensive — but can be very useful in some situations.
Usually a Chapter 13 Bankruptcy is filed:
- To stop a foreclosure
- To account for assets not be exempt in a Chapter 7
- When income is too high to qualify for Chapter 7
- If you have filed a prior Chapter 7 within the past 8 years
During your initial appointment, experienced Indiana bankruptcy attorney Loraine P. Troyer will review your specific situation and advise you on your options.
The help you need is just a phone call away! For more information about personal bankruptcy in Indiana, or to schedule an appointment to discuss your options, email Loraine P. Troyer today or call her office directly at 574.534.2347.