Tired of Debt Collectors Calling? Bankruptcy Lawyers in Marion, IN can Help

May, 2014 by Alma Abell

Attorney Holly M. Ripke has been helping people get their debt under control for more than a decade. She can eliminate credit card debt and medical bills. In addition she can stop wage garnishment, repossessions and foreclosures. All of these actions will be easier and more certain, if a debtor calls her as soon as they can’t pay their bills. Often people are too embarrassed to ask for help. They shouldn’t be. Lawyers are there to help people use legal methods to reduce their debt. Everything a lawyer hears is kept completely confidential.

Few things are more stressful for people than starting the day out with phone calls from debt collectors. These people are trained to intimidate the people who owe them money so that their bills are the first on the list to get paid. Many debtor’s have a money problem because of a long-term illness or job loss, so these calls only add to an already long list of stressful events. A professional Bankruptcy Lawyers in Marion IN can put a stop to these calls. Once a person files for bankruptcy all attempts at debt collection have to stop.

Bankruptcy Lawyers in Marion IN evaluate a debtor’s income level and type of debt to determine which bankruptcy law applies to them. People who make under the median Indiana income qualify for a Chapter 7 bankruptcy. A bankruptcy trustee is charged with selling off all of the debtor’s non-protected assets. The money collected from this sale is divided among the creditors. Any debt left remaining is discharged. In less than six months the debtor is free to resume their life.

People who make more than the median income are assumed to have the ability to pay back more of their debts. Therefore, they are required to use Chapter 13 to file for bankruptcy. A trustee evaluates their income and living expenses and puts them on a monthly budget. Everything that the debtor makes above their budgeted living expenses is used to pay creditors. This process can take from three to five years. If the debtor completes the program, the remaining debt is forgiven.

People can visit to learn more about bankruptcy and to request a free initial consultation.

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