Bankruptcy Indiana

One of the big recurring themes of Bankruptcy in Indiana is based on an old country song - "Looking for Love in All the Wrong Places".  As a debt consolidation lawyer offering bankruptcy services in Indiana for close to 25 years, I see people looking for financial help in all the wrong places.  People with serious debt problems obviously need help, but with late fees and penalties piling up and creditors calling them at work and at home, time is of the essence. The theme I keep emphasizing is how crucial it is to get expert legal advice quickly.  Whether of not filing individual bankruptcy in Indiana is the recommended course of action, an experienced bankruptcy attorney in Indiana can help debtors understand their options, select a course of action, and get started on a plan before the situation escalates and is out of control.

While I would never imply that there is one solution that fits all debtors, here is a list of the kinds of help that often turns out to be from the "wrong places":

Debt settlement agencies.
This kind of firm has the person who needs debt help (which might include student loan debt help, payday loan debt help, help to stop foreclosure, etc.) start to deposit money in a trust account every month.  When (and only when) enough money has accumulated in the account to offer a lump sum to the creditor, does the debt settlement agency begin to negotiate with the credit card company or other creditor.  Meanwhile, the agency is taking fees out of the monthly deposits.  All the while, the late payment fees are piling up on the original debt!

Credit Counseling Services.
Credit counseling services are supposed to offer education about good financial habits, staying on a budget, paying bills on time, and the like.  Unfortunately, as one of  the Columbus bankruptcy lawyers who works in the Zuckerberg bankruptcy law offices point out,  by the time many people seek this help, their debt situation is already out of control.  The main kind of help the credit counseling service ends up offering - for a fee - is the same negotiation with creditors as the debt settlement agencies offer. Meanwhile, dire things have begun to happen to the debtors, such as wage garnishment, harassment by creditors, and even foreclosure or eviction.

Credit repair services.
The Federal Trade Commission has started to crack down on many companies promising "credit repair", telling debtors that their debt can be cut in half, or that they can remove bankruptcy, slow pay history, repossessions, and collections, from their credit report. In many cases, debtors allow the credit repair services to deduct money from their bank accounts, and then no services were ever provided!

Foreclosure prevention services.
Scammers often collect upfront fees from homeowners, promising to negotiate with mortgage lenders on their account. The Indiana Attorney General has issued warnings about this very type of scam.  As a longtime bankruptcy attorney in Indiana, I can tell you for sure: No one can guarantee that your lender will be willing to change your mortgage terms.  If you would like help negotiating a mortgage modification, at all four Zuckerberg bankruptcy law offices, we offer no-cost, no-fee, no-obligation discussion of foreclosure prevention options.

The sad truth is that many people put off the idea of filing personal bankruptcy in Indiana by looking for help in all the wrong places!