Legal Question in Bankruptcy in Indiana

High Debt!

I am in debt up to my eyeballs ($45,000.) well you know the story. I had help getting there but not any help getting out. I own a small home and have no real assets to speak of but my home. Would it be a good or bad idea to file for bankruptcy.

Asked on 3/21/07, 8:56 pm

2 Answers from Attorneys

John Bator Bator Redman & Shive

Re: High Debt!

You should make an appointment for a consultation with an expert bankruptcy attorney and the sooner the better while you still may have other options. Most like our firm offer free initial consultations and will go over with you all your options, both in or out of bankruptcy.

No one wants to file bankruptcy and you shouldn't unless there are no viable options, but you need to know those options right away. You will sleep better once you do

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Answered on 3/22/07, 11:11 am
Stacey Davis Law Office of Stacey M. Davis

Re: High Debt!

Filing bankruptcy is usually not as bad as people think. It's how you handle your credit after you have filed bankruptcy. The law allows certain amounts of your property to be exempted, so it is possible that you could keep you house and/or car. Also, there are two basic types of bankruptcy, Chapter 7 and 13. I would need to discuss you situation more specifically before advising you further. Please call me today.

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Answered on 3/22/07, 12:50 pm

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