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Merrillville Chapter 13 Bankruptcy Lawyer

Crown Point Debt Repayment Lawyer

In general, Chapter 13 bankruptcy allows you to keep more of your assets than Chapter 7. It is also not as bad for your credit rating as Chapter 7 bankruptcy because creditors receive most of the money you owe them. These are just two of the benefits of Chapter 13 bankruptcy. To find out if you qualify, contact an experienced bankruptcy attorney.

My name is Andrew L. Kraemer. I am a Merrillville Chapter 13 bankruptcy attorney who has 20 years of legal experience. For a free initial consultation, please call my office at 219-472-1441 or contact me online.

Benefits of Chapter 13

Chapter 13 bankruptcy is for people whose income is above the median income in Indiana for a household of their size. Some small proprietary businesses can also file Chapter 13.

Unlike Chapter 7 bankruptcy, which discharges debt, Chapter 13 restructures your debt into a debt repayment plan over three or five years. Your monthly payments will be lowered, so you will be able to continue making payments. You will most likely have to pay the following debts in full:

  • Secured debt
  • Alimony
  • Child support
  • Taxes
  • Earnings you owe employees

Any income that remains after making these payments should be used to pay down your unsecured debt, such as credit cards or medical bills.

When you file for Chapter 13 bankruptcy, you will receive an automatic stay, which puts a stop to all collection activities during the bankruptcy process. The automatic stay will stop creditor calls and prevent creditors from wage garnishing, filing liens, foreclosing on liens and seizing collateral or property.

Chapter 13 bankruptcy may be a good option if you are behind on your mortgage payments because it allows for more flexibility for keeping your home. You may also use "cram down" payments to repay vehicle loans.

Contact me today before the problem becomes worse. To make an appointment, please call 219-472-1441.

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Contact Information:

506 E. 86th Ave.
Merrillville, IN 46410
Map and Directions

Phone: 219-472-1441
Toll Free: 888-738-6619
Fax: 219-791-9631