Indianapolis Chapter 13 Bankruptcy Attorney

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Chapter 13 bankruptcy in Indiana is a five year payment plan that is controlled by the Indiana bankruptcy court and trustee.

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The Indiana bankruptcy court will evaluate your income and determine what the correct monthly payment should be to your creditors usually over five years.

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By consolidating your unsecured debt into one obligation, through the courts you can work with your creditors to pay off your debt at a rate you can afford. Your new loan will have zero interest, and at the end of your three to five year plan, your remaining debt will be wiped free.

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Your payment is based upon your budget– which is evaluated by the Indiana bankruptcy court – and your remaining income after living expenses.

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If you fail to finish the plan, your creditors will be able to begin trying to collect the full debt owed.