Steps to File Bankruptcy in Fort Wayne
People in the Fort Wayne area who face financial difficulty can be reluctant about considering the possibility of bankruptcy. Most people are unfamiliar with bankruptcy law in Fort Wayne, and fear the stigma of bankruptcy as well as its impact on their credit rating. While it is true that you should make every attempt to work out your debts before filing bankruptcy in Fort Wayne, bankruptcy is a perfectly legal and respectable means for individuals facing financial turmoil, often through no fault of their own, to relieve their debts.
If you are considering a Fort Wayne bankruptcy filing, contact Locke & Witte, the bankruptcy law firm in Fort Wayne, today.
Fort Wayne bankruptcy services
You should remember that a bankruptcy remains on a credit report for ten years when you are seeking Fort Wayne bankruptcy help. This makes it difficult to obtain new loans or lines of credit for a full decade. However, if you are considering Fort Wayne bankruptcy services, chances are that your credit rating is already imperfect.
Filing for bankruptcy in Fort Wayne is not a difficult task once you have made the decision to do so. First, you need to hire an attorney familiar with Fort Wayne bankruptcy litigation. Some debtors choose to file bankruptcy on their own, but this is never a good idea.
Next, work with your attorney to determine which Fort Wayne bankruptcy option is right for you. The two most common forms of bankruptcy individuals file for are Chapter 7 and Chapter 13. Chapter 7 involves liquidation, while Chapter 13 is a reorganization of finances. Remember, though, that bankruptcy laws have changed recently, and that some forms of bankruptcy require a means test.
Fort Wayne bankruptcy advice
You must also determine the cost of filing bankruptcy. Your Fort Wayne bankruptcy attorney cannot be considered a creditor for a Chapter 7 case, so any legal fees must be paid in full and up front. An automatic stay goes into effect once you file for bankruptcy—meaning your creditors can no longer contact you directly regarding your debts. They may choose to file a Fort Wayne lawsuit contesting your bankruptcy but all interactions must go through the respective attorneys. If this is the case, we do provide Fort Wayne bankruptcy litigation and advise our clients throughout their bankruptcy filing.
Your attorney can help you decide how to proceed with the filing from here, as all bankruptcy cases are unique.
Contact us for bankruptcy help in Fort Wayne
If you need to file for bankruptcy, contact Locke & Witte to set up a confidential consultation by calling 1-260-440-7219. We are sensitive to your situation and we can work with you on our fees.
