Areas of Practice

Bankruptcy Law
Family Law
 
 

6525 East 82nd Street
Suite 102
Indianapolis, Indiana 46250

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888.523.0165 office
317.849.3925 fax

 
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Guiding Clients Through Each Stage of Bankruptcy

Nobody should have to file bankruptcy without knowing what to expect from the process. While special circumstances can affect any case, an experienced attorney should anticipate those circumstances and help you decide how to handle them.

I am Indiana attorney Lawrence C. Arany, and I have been helping clients make informed decisions for more than 30 years. Contact me at my offices in Indianapolis to discuss your concerns about the bankruptcy process.

Getting Immediate Debt Relief the Moment You File

The first stage in the bankruptcy process is the filing of your bankruptcy petition, which will be prepared by your lawyer — if you hire one — based on the information you provide. When you file, the clerk will send your creditors a notice within one business day stating that the court has ordered bankruptcy relief. When needed, we will contact your creditors immediately.

Bankruptcy relief includes an automatic stay on all creditor efforts to enforce and collect on your debts. Pending lawsuits, foreclosures and repossessions must be stayed or canceled, your wages cannot be garnished, and phone calls and letters must stop.

The automatic stay will remain in place throughout the Chapter 7 or 13 bankruptcy process, unless it is removed by the court. When you file, the clerk will first assign your case to a trustee and schedule a meeting with your creditors.
Resolving Your Case After a Meeting With Creditors

Most people feel nervous about the creditor meeting. This is natural, but you should know that the meeting is generally a short, routine procedure, and I will be there to represent your interests.

In Chapter 7, the meeting typically lasts 10 minutes, and creditors do not usually show up; instead, the bankruptcy trustee asks a few basic questions and then goes into the facts of your particular case. After the meeting, your creditors will be given 60 days to present objections. Assuming they do not do so, your bankruptcy will be finalized at that point.

In Chapter 13, the meeting can last longer, because the trustee must recommend approval of your Chapter 13 payment plan. Assuming your plan is approved, you will make a single monthly payment to the trustee for a period of three to five years, after which your bankruptcy case will be closed. If your plan is not immediately approved, I will represent your interests in dealing with the trustee and the court in order to secure the approval of your plan.

The above is only a broad overview of the bankruptcy process. Each case is unique, and you can contact me to discuss how the process is likely to go for you if you decide to file for bankruptcy.

 

 
 
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