What is the process for filing for bankruptcy?

In Indiana, filing for bankruptcy can be an overwhelming and difficult process. However, there are specific steps you must take in order to file properly. First, you must decide what type of bankruptcy you are filing for. In Indiana there are two types of available bankruptcies, Chapter 7 and Chapter 13. Chapter 7 is the most common type, which can eliminate unsecured debts and stop any foreclosure proceedings. Chapter 13 requires a repayment plan, including a detailed budget, and is often used when the debtor has a steady income. The next step is to complete the required forms. Bankruptcy forms must be completed accurately and honestly in order to be accepted by the court. Court filings include your income and expense summaries, schedules of your debts, assets, and exemptions, as well as financial statements. Once these forms have been completed, you must attend mandatory credit and debtor counseling. This is generally a one-hour counseling session with a certified credit or debt counseling provider. After completing these sessions, you may need to complete additional documents certifying the completion of counseling. You will then file your forms and documents with the clerk’s office in the appropriate district court. The court will issue an automatic stay, which will protect you from creditors. You may also be required to attend a hearing to answer questions about your bankruptcy filing. Finally, the court will review your paperwork and determine whether you have met all requirements for bankruptcy. However, keep in mind that the court may require additional documents to be filed in order to process your case. Once all requirements are met, the court will generally grant the discharge of your debts.

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What is the process for filing for bankruptcy?

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