Archive for December 15, 2012
In the third quarter of 2012, over 9000 people filed for bankruptcy in the state of Indiana. With the assistance of a bankruptcy attorney Indiana residents may have gotten the help that they have needed to have a successful bankruptcy, or they may have found themselves struggling with the process and not getting the result that they need. Bankruptcy lawyers in Indiana may be able to provide powerful consultation services that can help individuals to get the debt relief that they need. It may also help them to better organize their finances for future recovery and stability.
The bankruptcy Indiana residents choose may be effective, but without the right foundation in place, the relief will only be temporary. Bankruptcy is not a permanent solution, nor can it solve every type of debt that people are able to gather, but it can certainly help in many different situations that Indiana bankruptcy lawyers may be able to assist you with. It is also important to work with the right bankruptcy attorney Indiana residents may have available so that they can understand which type of bankruptcy is best for their individual situation. For example, the most popular types of bankruptcy in Indiana are Chapters 7 and 13. Chapter 13 in particular requires that you cannot have more than $922,975 in secured debt, or $307,675 in unsecured debt. Understanding these and other qualifications can help when filing bankruptcy in Indiana, and part of the services that a bankruptcy attorney Indiana residents choose may be able to provide.
Epiq Systems, which provide legal technology to businesses, says that 1.25 million Americans will file for bankruptcy this year, a decrease from 1.38 million last year. The economy may be getting slightly better, but the needs of the individual do not change. A bankruptcy attorney Indiana residents work with may be able to provide them with the right method for filing, the proper organization of documents that will be required when filing, and other needs. As of April in 2012, more than 5.2 million Americans have been unemployed for six months or more. With a bankruptcy attorney Indiana residents may be able to avoid foreclosure, garnishment, and other financial penalties that could be associated with a loss of revenue. Celebrities like Elton John, Larry King, and Mike Tyson have filed for bankruptcy at some point. Bankruptcy can happen to anyone, so make sure that you are prepared.