Archive for June 15, 2013
Go to any bankruptcy lawyer Indiana and you will find out they are used to helping all kinds of people file for bankruptcy. Even professional athletes have had to file for bankruptcy in Indiana before. According to Sports Illustrated, about 75 percent of all professional athletes end up in financial difficulties in as little as 2 years after they retire from sports. Even four United States presidents ended up filing for bankruptcy at one time or another in their lives. These four presidents were Jefferson, Grant, McKinley and Abraham Lincoln.
Certain qualifications exist before filing for bankruptcy Indiana and bankruptcy lawyers indiana can fill you in on all of them. Basically, you have to be in more than $922,975 in unsecured debt and your unsecured debt has to be at least $307,675. The U.S. Bankruptcy Code stipulates these amounts. Also, there is a means test that must be passed before a citizen can file a Chapter 7 bankruptcy. If the debtor cannot pass the means test they may still file for a Chapter 13 bankruptcy if they meet the qualifications for that. With a Chapter 13 bankruptcy, the debtor gets a reset on their debt and a new payment plan that is a 3 to 5 year payment plan in which they can pay all or part of their debt. Talk to a bankruptcy lawyer Indiana to find out which type of bankruptcy you qualify for. Indiana bankruptcy lawyers can make the entire procedure go much more smoothly for you. Hire an bankruptcy lawyer Indiana and get back on the financial road to better finances with their help today.
Find out more about this topic here: koehlerbankruptcy.com