If you are feeling like you are overwhelmed with your debt, yet you are willing to do your part to pay back a portion of it, it may be time to think about meeting with a Chapter 13 Bankruptcy in Indianapolis, IN Lawyer. By doing this, you will be settling your debt with your creditors. Basically, this is where the two of you agree that you will pay a reduced amount of money for your debt. Once you have come to an agreement, you will be obligated to send a check to the court every month. At this point, the court will distribute your money to your creditors.
Many people who have hired a Bankruptcy Lawyer in Indianapolis IN will agree that they didn’t have to pay as much money as they were paying each month. For example, maybe you have a car payment of $500 each month. When you choose to file a Chapter 13 bankruptcy, your car payment as well as your medical bills and your credit cards will all be included in that monthly payment to the court which is often less money than what you were paying for your car payment. This way, you don’t have to worry about losing your car because you are still paying for it. It works out quite well.
Of course, you will still have to go to court for your bankruptcy. This is way you will want to meet with a Bankruptcy Lawyer in Indianapolis right away. Your lawyer will explain the process of filing a chapter 13 bankruptcy to you. He will contact your creditors and let them know of your decision. This way, if you are receiving any harassing phone calls, they will stop right away.
Trying to get out of debt on your own can be very difficult to do. This is why you need to come up with a plan. Your lawyer is going to walk you through this process and he will even talk to your creditors on your behalf. Make the decision to file a bankruptcy today and things will begin to work out for the best.
