Bankruptcy Indiana

When you're a debt consolidation lawyer offering bankruptcy services in Indiana for as many years as I have, you deal in credit matters all day long, every day. It doesn't take very long to realize how much false information is circulating out there about credit and bankruptcy.  The most common myth is that filing bankruptcy in Indiana kills your ability to get credit for ten whole years.

And it's not just me.  All the good bankruptcy attorneys in the Indiana Zuckerberg bankruptcy law offices in Indianapolis, Anderson, and Bloomington hear this myth repeated time and again.  The Columbus bankruptcy lawyers who are my colleagues in that city think the myth is simply a misinterpretation of a fact.  That fact is, a bankruptcy filed under Chapter 13 bankruptcy law in Indiana will remain on your credit record for seven years.   But, what's not fact is that, post-bankruptcy, you won't have any credit available.  That message has become one of the central themes of the articles I write in Bankruptcy in Indiana.

As an Indianapolis bankruptcy attorney who's helped literally tens of thousands of people file personal bankruptcy in Indiana (and in many cases, small business bankruptcy in Indiana along with that), I can tell you that, just because something shows up on a credit report doesn't mean you can't get credit!

Now, this doesn't mean lenders will totally ignore the fact that you've filed individual bankruptcy in Indiana.  But, in the real world, lenders realize you're probably a better credit risk after you file bankruptcy in Indiana than before!

• Some (not all) credit card companies will actually allow you to keep your card after your debt to them has been discharged in bankruptcy in Indiana, possibly at a higher initial interest rate.
   
• When it comes to a home loan, debtors generally qualify for a loan on the same terms as anyone else once two years have passed from the bankruptcy.
   
• If you have regular employment income, and are up-front with the lessor, you should be able to lease an apartment following bankruptcy in Indiana.
   
• As far as a car loan after bankruptcy, you may even receive unsolicited offers in the mail.  Bringing along a copy of your credit report showing that debts were forgiven in bankruptcy will probably help get the deal done.

Since I've devoted this week's Bankruptcy in Indiana articles to reviewing themes, the main theme here is that bankruptcy is not a credit killer - in fact, it's a credit rebuilder, a chance to re-establish good credit!