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Bankruptcy Attorneys in Indianapolis Since 1980

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Property & Asset Protection

Bankruptcy is an Option for Retirees

October 3, 2019 By TomScottLaw

You Can Enjoy the Retirement You've Dreamed About

The U.S. and global economies constantly fluctuate, because what goes up must come down, and vice versa. The reasons for recessions vary, but the results are the same in that people suffer regardless of the causes.The Great Recession a decade ago, which caused over eight million people to lose their jobs, resulted in a huge […]

Filed Under: Medical Bills, Personal Bankruptcy in Indiana Tagged With: Retiree, Retirement

Holiday Season and End of Year Preparations if You Have Financial Problems

September 27, 2018 By TomScottLaw

Holiday Season and End of Year Preparations if You Have Financial Problems

The holiday season is a time of celebration, but for many people it’s a time of year that brings added financial pressure while they struggle to keep up with payments on their existing debt. If you use credit cards to buy Christmas gifts, with the expectation of filing for bankruptcy to get rid of those […]

Filed Under: Credit Card Debt, Misperceptions, Non-Dischargable Debt

How Filing Tax Returns Late and Unpaid Taxes Affect Your Bankruptcy Case

July 25, 2017 By TomScottLaw

Filing Tax Returns Late and Unpaid Taxes Affect Your Bankruptcy Case

A recurring theme bankruptcy lawyers deal with is tax returns not filed on-time. Determining tax liabilities in bankruptcy cases can be very complex. If a debtor pays back taxes through a bankruptcy plan, when the case is discharged the IRS can charge the debtor for the unpaid interest on those taxes. Even if you cannot […]

Filed Under: Personal Bankruptcy in Indiana, Taxes Tagged With: Delinquent Taxes, Non-Priority Taxes, Priority Taxes, Proof of Claim, Tax Liabilities

How Bankruptcy Affects Student Loan Debt and Car Loan Interest Rates

May 15, 2017 By TomScottLaw

How Bankruptcy Affects Car Loan Interest Rates

As a result of the recent rise of the prime rate, vehicle loans included in Chapter 13 bankruptcy plans can have a higher interest rate than in the past few years. Despite the resurgent economy, single mothers are still vulnerable to financial difficulties. Student loans cannot be eliminated by filing for bankruptcy, but one of […]

Filed Under: Chapter 13, Misperceptions, Non-Dischargable Debt, Student Loans, Vehicles, Wage Garnishment Tagged With: Administrative Garnishment, Final Order in Garnishment, Motion for Proceedings Supplemental to Judgment, nondischargeable debt, Pro Rata Distribution

Bankruptcy and Personal Injury Claims / Modifying a Chapter 13 Plan / Joint and Several Liability

February 5, 2017 By TomScottLaw

Bankruptcy and Personal Injury Claims

If you have a pending personal injury claim when you file for Chapter 7 bankruptcy, you relinquish to your trustee all control of the settlement of the case, but you retain some control with a Chapter 13 bankruptcy. In rare Chapter 13 cases, the cram-down method of reducing debt for an automobile can be used […]

Filed Under: Chapter 13, Chapter 7, Marriage & Divorce, Mortgage, Non-Dischargable Debt, Trustee, Vehicles Tagged With: Deficiency Balance, Joint and Several Liability, nondischargeable debt, Rash Decision, Wholly-unsecured Second Mortgage

Bankruptcy Can Affect a Divorce Settlement / Advantages, Disadvantages, and Misunderstandings of Bankruptcy

December 14, 2016 By TomScottLaw

Bankruptcy Can Affect a Divorce Settlement

You can use a Chapter 13 plan to catch up on child support arrearage or spousal maintenance support (alimony) arrearage. If you have received a Chapter 7 bankruptcy discharge, you may still be obligated to relinquish to the bankruptcy trustee assets you receive in the future, such as your next tax refund check, a pending […]

Filed Under: Exemptions, Marriage & Divorce, Misperceptions, Wage Garnishment

Car Loan Payments in a Chapter 13 Bankruptcy

October 16, 2016 By TomScottLaw

If you will be filing for bankruptcy protection, you have a few options regarding the best way to pay off a car loan or to buy a new vehicle before or during the period of a Chapter 13 bankruptcy. How Much?     FEES     Our Locations? 3 INDY OFFICES Need Help? CONTACT US […]

Filed Under: Chapter 13, Vehicles Tagged With: cram-down, cramming, eve of bankruptcy, IRS, lower interest rates, means test

Protecting Your House From Liquidation in a Bankruptcy

October 5, 2016 By TomScottLaw

If you own a home, Indiana law allows you to protect a portion of the equity in that home. A liquidation analysis determines what would be available for creditors after you deduct the cost of sale and other expenses. We recently discussed several aspects of bankruptcy with Christopher Holmes and Jess M. Smith, III, partners […]

Filed Under: Chapter 13, Chapter 7, Foreclosure of Home / House / Real Estate

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SOUTH INDIANAPOLIS OFFICE
4036 Madison Ave.
Indianapolis, IN 46227
Phone: 317-786-6113

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EAST INDIANAPOLIS OFFICE
1701 N. Shadeland Ave., Suite A
Indianapolis, IN 46219
Phone: 317-870-3232

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  *Disclosure required by 11 U.S.C. § 528(a)(3): We, the law office of Tom Scott & Associates, P.C., are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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