Areas of Practice

Bankruptcy Law
Family Law

6525 East 82nd Street
Suite 102
Indianapolis, Indiana 46250

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Our location and directions

888.523.0165 office
317.849.3925 fax

Foreclosure and Garnishment

An Attorney to Deal With Serious Debt Problems
When your debts become impossible to manage, they can have serious consequences, particularly the loss of a home through foreclosure and the loss of wages and bank accounts through garnishment.
If you are being threatened with foreclosure and/or garnishment, you should consult an experienced bankruptcy lawyer immediately. I am Indianapolis attorney Lawrence C. Arany, and I have been helping clients make informed decisions about bankruptcy and creditor claims for more than 30 years. Contact me to learn more about your bankruptcy options.

Stop the Foreclosure Sale by Filing Bankruptcy
One of the most powerful aspects of bankruptcy is its ability to stop a foreclosure sale. The automatic stay stops all debt collection actions by your creditors, including foreclosure. What happens next depends on your individual circumstances and the bankruptcy chapter you choose.

In Chapter 13, you may be able to save your home if you can afford to make all future mortgage payments while repaying your past due payments over the course of three to five years without interest.
In Chapter 7, your bankruptcy filing and the bankruptcy stay will at least temporarily suspend the foreclosure process, which has certain benefits. You may also just need a few months to straighten out your finances, which Chapter 7 can give you.

Bankruptcy is not the only option for people facing foreclosure. You may be able to negotiate a workout so you can keep your home. If you want to give up your home, the bank may go along with a short sale, or you can let the foreclosure go forward and obtain a bankruptcy discharge of any deficiency after the foreclosure occurs.

Each of these options has its own consequences. Before you make a decision, it is best to consult an experienced Indiana attorney who will put your interests first and give you skilled professional advice.

Act Now to Avoid Wage and Bank Account Garnishment
Garnishment is another major reason to consider bankruptcy. If your wages are being garnished, you may be able to stop future garnishment and recover some of your lost wages by filing bankruptcy. If your bank accounts have been frozen, filing bankruptcy may still benefit you, although in Indiana the ability to exempt bank accounts is limited.
It is always best to give yourself time to prepare your bankruptcy filing. However, if you need to file an emergency bankruptcy petition to stop foreclosure or garnishment, I am experienced with this procedure. Contact me to discuss what you can do to avoid these serious situations.

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