Filing for Bankruptcy in Indianapolis, IN requires an in-depth understanding of these legal proceedings. First you must comprehend your options in order to select the correct avenue that is right for your financial circumstances. You should also evaluate the repercussions associated with each chapter to determine how this claim will affect you over the next few years.
Business Owners
Filing for Bankruptcy in Indianapolis, IN as a business owner provides you with two options. You may temporarily shut down your business while you pay off your debts through your bankruptcy claim. If this is not an appealing option you may choose a form of liquidation that allows you to pay your debts off by selling select business-related properties. Your selected attorney will provide information to you related to which properties are eligible for exclusion and may be protected through a bankruptcy claim.
Individual Claimants
When you make the decision to file as an individual-based bankruptcy, it is cause for a visit with your preferred bankruptcy attorney. Your attorney comprehends vital processes required to file an effective bankruptcy claim. He or she will walk you through each step to include determining which debts are eligible for discharge. The assigned judge will have the final say over which debts are discharged. However, your attorney can bring them to his or her attention through the bankruptcy claim.
Stopping the Harassment
Your attorney can contact your creditors on your behalf to notify them that you are filing for bankruptcy and that it is probable that the debt will be included. He or she may contact them via phone and through certified mail. This action will cease any collection calls to your home and office.
Summary
If you choose to file bankruptcy, you must evaluate all options before making a final decision. It is imperative that you ensure that you have selected the most beneficial chapter of bankruptcy as your claim will affect your life and finances for years to come. This is where an attorney who practices within this law field is most beneficial. If you have questions or concerns related to bankruptcy you can visit www.thewrightlawgroupllc.com for further information.
