Bankruptcy FAQ

Not Sure If Bankruptcy Is Right for You?

Discuss your options with a bankruptcy attorney in Franklin or Greenwood, IN

When your financial situation becomes overwhelming, you may need to consider filing for Chapter 7 or Chapter 13 bankruptcy. Trust Dillon Legal Group, P.C. to guide you through the process. Our bankruptcy law firm in Franklin or Greenwood, IN will be here to answer all your questions.

To learn more about filing for bankruptcy, reach out to our practicing attorney today.

Get the answers you need

Have questions? We have answers. Here are some of our most frequently asked questions about bankruptcy law:

Q: Can I file for bankruptcy if I don't have a lot of debt?

A: Sometimes, but it might not always be in your best interest.

Q: Which type of bankruptcy should I pursue?

A: That depends on your situation. It's best to meet with an experienced bankruptcy attorney to determine which one is best for your finances.

Q: How often can I file for bankruptcy.

A: In most situations, you have to wait eight years between each Chapter 7 bankruptcy filing.

Q: Do I have to include all my accounts when I file?

A: Not necessarily. With a process called reaffirmation, you may be able to keep some of your debt sources, such as a home or vehicle.

Q: Will filing for bankruptcy eliminate all of my debt?

A: Probably not. While many types of debt can be discharged, debt from student loans can't be eliminated.

Q: Will my cosigner still have to pay if I file?

A: Yes. Filing for bankruptcy will not alleviate your cosigner of their agreed responsibilities.

Q: What's the difference between secured and unsecured debt?

A: Unlike unsecured debt, secured debt has collateral attached to it.

Q: If there's a money judgement against me, is it best to file?

A: Depending on the circumstances, filing for bankruptcy may harm your credit more than the judgement would.

Q: Will I lose my house?

A: You may be able to exempt your home from discharges. However, you need to create a personalized plan with a bankruptcy law attorney to explore that option.

Q: Am I going to lose my retirement account or Social Security benefits?

A: Most of the time, you can keep these assets. However, it can vary depending on the type of retirement account you have.

Q: Can I keep my inheritance if I file?

A: Once again, this depends on the type of inheritance. Our bankruptcy attorney can assess your individual situation.

If you're interested in filing for Chapter 7 or Chapter 13 bankruptcy, it's crucial you speak with a qualified attorney. Make an appointment with attorney Ryan P. Dillon today by calling 317-738-2525.

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