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Archive for January 24th, 2013

A Talented Attorney Can be an Asset When Filing for Bankruptcy

Bankruptcy in indiana

With the state of the economy today, the best choice for many struggling individuals is to hire one of the many Indiana bankruptcy lawyers who can help them work through the complicated process of filing bankruptcy in Indiana. Unfortunately, nobody is immune to the bankruptcy Indiana hosts, many celebrities including Mike Tyson, Elton John, Willie Nelson, Jerry Lee Lewis, Anna Nicole Smith, and Larry King have all done so. Although some debts, like alimony and child support, student loan, and debts stemming from fraud cannot be discharged under bankruptcy, Indiana bankruptcy lawyers can help individuals drastically reduce the amount that they owe.

Skilled and experienced Indiana bankruptcy lawyers can help prevent people from falsifying bankruptcy forms, which is bankruptcy fraud, and is a federal crime in the United States. On top of that, in September of 2012, one in every 747 housing units in Indiana received a foreclosure filing. In those cases, Indiana bankruptcy lawyers will know the best methods available for people who hope to save their home. That can make them a virtually invaluable resource.

When filing for bankruptcy, individuals have two options. Chapter 7 allows a debtor to discharge all or part of their debt and in Chapter 13 bankruptcy, debtors have to use a payment plan in order to repay all or part of their debt. Luckily, Indiana bankruptcy lawyers can quickly diagnose the situation and provide valuable guidance to individuals. As a result, Indiana bankruptcy lawyers can prove to be a valuable asset in order to help someone properly file for bankruptcy and, in turn, improve their financial situation. Find more on this topic here.

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