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Bankruptcy Attorneys in Indianapolis Since 1980

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Vehicles

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

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

Property You Can Protect When You File for Bankruptcy (Interview Part 2 of 3)

April 26, 2016 By TomScottLaw

Retirement accounts are exempt from creditors when filing for bankruptcy, but an inherited IRA is not. A recent ruling extending the time to cure arrearage might help you save your house after a tax sale. Editor: We recently discussed the changes in the bankruptcy laws with Christopher Holmes, Jess M. Smith, III, partners at Tom […]

Filed Under: Foreclosure of Home / House / Real Estate, Personal Bankruptcy in Indiana, Property & Asset Protection, Taxes, Vehicles Tagged With: 401k, Inherited IRA, IRA, Life Insurance, Pension Plans, Preferential Transfer, Statutory Redemption Period

Auto Loans and Bankruptcy: How to Avoid Repossession of Your Vehicle

August 21, 2015 By TomScottLaw

Upside-Down Auto Loan

Are you behind in your monthly car or truck payments to the point where you are unable to satisfy your bank or financial institution and they’ve placed the loan in default? If you answered “Yes,” there may be a way out of your tough situation. If you’re having financial troubles and are desperate to avoid […]

Filed Under: Chapter 13, Vehicles Tagged With: cramdown, cramming, creditor, debtor, lower interest rates, nonpriority debt, repossession, Upside-Down

Cars and Other Collateral: Basics of Bankruptcy – Chapter 13 vs. Chapter 7 – Part 3

October 24, 2013 By TomScottLaw

In the previous installment of our series “Basics of Bankruptcy,” we discussed some of the reasons to file a Chapter 13 bankruptcy rather than Chapter 7 as they relate to mortgages. This post looks at reasons why Chapter 13 might be the better choice for personal bankruptcy than Chapter 7 in relationship to cars and […]

Filed Under: Chapter 13, Chapter 7, Personal Bankruptcy in Indiana, Property & Asset Protection, Vehicles Tagged With: collateral, personal property

Can I keep my car or truck?

July 5, 2013 By TomScottLaw

Yes, there are several different chapters of bankruptcy and we will make sure that you are able to keep your vehicle whether you are current on payments, whether you are behind on payments, or even if you own it outright. A vehicle is necessary for your “fresh start” and both courts and creditors agree that […]

Filed Under: Property & Asset Protection, Questions About Bankruptcy, Stop Harassment by Creditors, Vehicles

Can I keep more than one vehicle?

July 5, 2013 By TomScottLaw

Whether you can or should keep more than one vehicle after you file for bankruptcy will depend on several factors regarding your realistic needs and vehicle titles. You should consult with your bankruptcy attorney before you sell any vehicles you currently own. For immediate assistance, please contact us.

Filed Under: Property & Asset Protection, Questions About Bankruptcy, Vehicles

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

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EAST INDIANAPOLIS OFFICE
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Indianapolis, IN 46219
Phone: 317-870-3232

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