Frequently Asked Questions About Bankruptcy in Indiana

The following Frequently Asked Questions (FAQ) are provided only as a general reference.

Each bankruptcy case is different, therefore the answers to these questions could be somewhat different for your specific set of circumstances.

Bankruptcy Basics

What is bankruptcy?
Bankruptcy is a court supervised proceeding which is intended to give debtors a break from creditors’ collection activities while the court tries to determine if there is any way possible to try and get some money to creditors in exchange for debts being discharged. …

 

Are there different types of bankruptcy?
There are several chapters of bankruptcy including Chapter 7, Chapter 9, Chapter 11, Chapter 12, and Chapter 13. The majority of consumer cases are either Chapter 7 or Chapter 13 …

 

What is the process to file bankruptcy?
All you need to do is contact our office and set a free consultation with one of our experienced bankruptcy attorneys. Each of our attorneys has focused almost exclusively on the bankruptcy …

 

How long does the bankruptcy process take?
In a Chapter 7 case, once the case is filed we will attend a meeting with the court approximately 30-45 days after the case is filed and the debts will be discharged approximately 60 days later …

 

Is bankruptcy right for me?
While we will be able to assist you with the entire bankruptcy process and will answer all of you questions to make sure you understand the pro’s and con’s of filing, whether to file remains a personal choice …

 

How much does it cost to file bankruptcy?
There are two components to figuring the cost for filing bankruptcy. The first, and easiest cost to calculate is the court’s filing fee, which is the amount the court charges to accept a bankruptcy filing …

 

Do I need a lawyer to file for bankruptcy?
No, the court does not require that you use an attorney and you may be able to go through the process without an attorney. However, we would not recommend it …

 

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Marriage & Divorce

Do both spouses have to file?
No, there is no requirement in the Bankruptcy Code that a married couple must file bankruptcy jointly. In fact, in many cases our office will not recommend a joint filing. For example, if a couple is …

 

Does being divorced affect bankruptcy?
Yes, it might in several ways. There are certain debts that may be incurred during a divorce through a written court order or property settlement that may not be dischargeable in a Chapter 7 bankruptcy …

 

Should I file for divorce before filing for bankruptcy?
There are many factors that would help determine how to answer that question. Such things might include:
How long have the parties been separated? What assets do you and the other spouse have? …

 

Lawsuits

What if I’ve been sued for overdue debt?
If you have been sued for an overdue debt, you can presume that the creditor will try to get a judgment on that suit as quickly as possible. Once a judgment is entered, there will automatically be …

 

Alternatives to Bankruptcy

What happens if I do not declare bankruptcy?
Our office often works with creditors to try and negotiate a lower settlement on claims and has reached great success. Our office oftentimes has a greater success in non-bankruptcy workouts because …

 

Privacy

Whom do I need to inform that I have filed for bankruptcy?
Certainly in every case, you must list all of your creditors (even the ones you want to keep like a house and car and even the ones that are not dischargeable like student loans) …

 

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Employment

Will bankruptcy affect my career or professional license?
Such a question is similar to asking, “Will someone break into my home?” My answer is the same: That is not supposed to happen. The Bankruptcy Code specifically states, “No private employer may terminate …

 

Will my paycheck be garnished?
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Court Appearance

Will I need to go to court?
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Means Test

What is a bankruptcy means test?
  …

 

 

Age / Eldery

Should my age influence my decision to file for bankruptcy? 
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Exemptions

What are exemptions?
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Property & Assets

Can I keep my house if I file for bankruptcy?
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Does my house being in foreclosure affect my ability to file for bankruptcy?
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What if I own other real estate property?
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Can I transfer ownership of property prior to filing for bankruptcy?
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Can I keep my IRA account?
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Can I keep my tax refund?
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Vehicles

Can I keep my car or truck?
  …

 

Can I keep more than one vehicle?
  …

 

Does bankruptcy affect my driver’s license?
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Debt Relief

Can I stop bill collectors from calling me?
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Can I discharge credit card debt?
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Can I discharge medical bills?
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Can I discharge federal, state, or local taxes?
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Can I discharge student loans?
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Automatic Stay

What is an automatic stay?
  …

 

Credit Score

How will bankruptcy affect my credit score?
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How do I rebuild my credit score after bankruptcy?
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After Filing for Bankruptcy

Can I add creditors or additional bills after I file?
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What is a bankruptcy trustee?
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What happens if I fail to make payments to the trustee?
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Can I file for bankruptcy more than once?
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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.