Filing for bankruptcy indiana not as easy as some people think. You have to pass a means test first for a Chapter 7, which usually entails proving that your income is less than average in your state. There are guidelines for a Chapter 13 bankruptcy that you have to meet too. For instance, you can’t have more than $922,975 in secured debt. Nor can you have $307,675 is unsecured debts to file a Chapter 13 bankruptcy. These are not just arbitrary numbers, they are dictated by the U.S. Bankruptcy Code. Bankruptcy lawyers in Indiana will also tell you that you have to undergo some credit counseling before you can file for bankruptcy. When filing bankruptcy in indiana, it is always best to hire a bankruptcy attorney Indiana.
Bankruptcy lawyers in Indiana are not the only bankruptcy lawyers that are busy helping residents of their state. Nearly 1.25 million people in the U.S. are projected to file for bankruptcy this year, according to Epiq Systems, a legal technology provider. Last year though, the number was even higher, as 1.38 million Americans filed for bankruptcy. Filing for bankruptcy Indiana can stop a foreclosure too. Be sure you talk to a foreclosure lawyer about that though if your home is in foreclosure.In Indiana, the median foreclosure price on homes is $107,487. Bankruptcy lawyers in Indiana can help people file the proper paper work. Using bankruptcy lawyers in Indiana will ensure your bankruptcy goes through as soon as possible too.