CHAPTER 7 BANKRUPTCY LAWYER IN FORT WAYNE, IN
EXPERIENCED CHAPTER 7 BANKRUPTCY ATTORNEY SERVING FORT WAYNE, IN
If you’re overwhelmed by credit card debt, medical bills, personal loans, or creditor collection efforts, Chapter 7 Bankruptcy may provide the financial relief you need. At FW Debt Relief, our experienced Chapter 7 Bankruptcy lawyer in Fort Wayne, IN helps individuals and families throughout Fort Wayne, Indiana, Northern Indiana, and the surrounding counties understand their legal options and determine whether Chapter 7 is the right solution for their circumstances.
Often referred to as “liquidation bankruptcy,” Chapter 7 allows many qualifying individuals to eliminate eligible unsecured debts and move toward a fresh financial start. Filing a Chapter 7 case also triggers an automatic stay, which generally stops most collection actions, including creditor harassment, wage garnishments, lawsuits, and many foreclosure proceedings while your case is pending. Eligibility depends on several factors, including income and the federal means test.
IS CHAPTER 7 BANKRUPTCY RIGHT FOR YOU?
Every financial situation is unique. As a trusted bankruptcy lawyer in Fort Wayne, Attorney Fred Wehrwein has more than 40 years of experience helping clients evaluate their options under the U.S. Bankruptcy Code. During your consultation, we’ll review your assets, income, debts, and long-term financial goals to determine whether Chapter 7 or another bankruptcy option may better serve your needs.
If Chapter 7 is not the best fit, we also assist clients with Chapter 13 Bankruptcy for structured repayment plans, Chapter 11 Bankruptcy for business reorganizations, and Chapter 12 Bankruptcy for family farmers and qualifying agricultural operations. Our goal is to educate you about every available path to meaningful debt relief so you can make an informed decision.
SCHEDULE YOUR INITIAL CONSULTATION
Financial hardship can happen to anyone, but you don’t have to face it alone. Contact FW Debt Relief today to schedule an intial Consultation with an experienced Chapter 7 Bankruptcy attorney in Fort Wayne, Indiana. We’ll answer your questions, explain the bankruptcy process, and help you understand your legal options without pressure or unrealistic promises. As a debt relief agency, we help people file for bankruptcy relief under the Bankruptcy Code..
CHAPTER 7 PROCEEDING
A Chapter 7 proceeding allows all pre-tax dollars placed in retirement accounts to be exempt, that is, un-attachable by creditors. Likewise, in most instances, there are provisions for the protection of life insurance policies even if they have a loan value or a cash surrender value. Creditors have a period of ninety (90) days in order to file an objection to the granting of a discharge for all debts or for their particular debt. This means that a Chapter 7 proceeding is open for ninety (90) days. Upon the expiration of the ninety (90) days, the Court may grant a discharge of debts provided that there are no objections filed. Generally, the most common form of complaint arises when credit cards are used within ninety (90) days before filing the bankruptcy.
REAFFIRMATION AGREEMENTS
Generally, reaffirmation agreements are entered into with a mortgage holder or the lien holders on vehicles. However, if payments are current, the mortgage holder or the lien holder on a vehicle will not require a reaffirmation agreement to be filed with the Court. A reaffirmation agreement takes the debt out of the realm of bankruptcy and makes the debt legally enforceable against the debtors (our clients). There are exceptions to discharge; however, generally speaking, the granting of a discharge renders the scheduled debts unenforceable against the debtors.