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Solutions for a Financial Crisis
Overloaded by bills? Sick of creditors harassing you at all hours? Having a hard time making ends meet? If any of this sounds familiar, consider talking to an Indiana bankruptcy attorney about your debt-relief options.
We can easily connect you with an Indiana bankruptcy lawyer in your area. All you have to do is plug in your ZIP code below and fill out our free 2-minute bankruptcy evaluation form. Take charge of your debt and make the first move today.
Filing Chapter 7 Bankruptcy in Indiana
No matter where you may live in Indiana, if you are considering filing Chapter 7 bankruptcy, you may have questions about the state’s bankruptcy exemptions.
By speaking with an Indiana Chapter 7 bankruptcy lawyer in your area, you’ll be able to find out which of your property may be exempt from Chapter 7 liquidation.
Indiana Bankruptcy Laws
When you speak with your Indiana Chapter 7 bankruptcy lawyer, he or she will probably let you know that Chapter 7 bankruptcy is often referred to as liquidation. This is because during your Chapter 7 bankruptcy case, the bankruptcy trustee will have the option to liquidate, or sell, any of your non-exempt assets in order to repay unsecured debts that you may have such as credit card balances and medical bills.
You may be pleased to find out from your local Indiana Chapter 7 bankruptcy lawyer that most people who file Chapter 7 bankruptcy do not own any non-exempt assets. In these cases there is no property for the bankruptcy trustee to liquidate and the person filing Chapter 7 bankruptcy is allowed to keep most or all of their property.
Indiana Bankruptcy Exemptions
The following information provides a simple introduction to Indiana Chapter 7 exemptions. To get more detailed information and advice, contact an Indiana Chapter 7 bankruptcy lawyer.
As your Indiana Chapter 7 bankruptcy lawyer can explain to you in more detail, important Chapter 7 bankruptcy exemptions in the state include:
Homestead: Up to $15,000, includes farm, condo, personal property or cooperative properties.
Wages: Up to 75 percent of weekly disposable earnings.
- $300 for “intangible personal property.”
- 100 percent of the value of professional health aids.
- Up to $8,000 in other real estate and tangible personal property.
Questions? Speak to an Indiana Chapter 7 Bankruptcy Lawyer Today
As these examples show, Indiana Chapter 7 bankruptcy exemptions can be very narrow or specific in some areas. If you have any question or feel confused at all, don’t worry. Your Indiana Chapter 7 bankruptcy lawyer will explain the exemptions to you and discuss how they may be applied in your case.
Getting connected with a local Chapter 7 bankruptcy lawyer is easy at chapter7.com. Just fill out our short free bankruptcy evaluation form or call at 877-226-6844 and we’ll help you get in touch with an Indiana Chapter 7 bankruptcy lawyer near you.
Note: Keep in mind all laws are complex. If you need legal advice or want to fully understand how these laws affect you, please speak with a local attorney.
Laws may have changed since our last update. For the latest information on your state’s bankruptcy laws, speak to a local bankruptcy lawyer.