Indiana Bankruptcy Exemptions | Indianapolis Bankrupty

Property You Can Keep After Filing Bankruptcy

Most people get to keep all of their assets when they file bankruptcy. In Indiana, some people occasionally lose a portion of their tax refund. Many people are under the assumption that when they file for bankruptcy, they will lose everything of value that they own.

However, there are exemptions you can use to protect your property. In order to help you understand the process of filing for bankruptcy and these exemptions, it is in your best interest to retain our office to assist you in protecting your assets.

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YOU CAN COUNT ON US

You can count on John Steinkamp & Associates to help you get your finances back on track. In my 15 years of practice, I have helped almost 2,000 people file for bankruptcy. My firm is one of the most trusted bankruptcy law offices in the Indianapolis area and my team and I can help you better understand the process of filing, including exemptions.

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My firm has the knowledge, the skill and the experience to guide you through bankruptcy and will make sure you properly use all the exemptions available to you. I am committed to providing you with personal, one-on-one service and will always put your best interests first.

Protecting Non-Exempt Assets

If assets are not exempt, you can still protect them in bankruptcy. One way to protect non-exempt assets is to file bankruptcy under Chapter 13.

While Chapter 7 Debtors do stand to lose non-exempt assets, Chapter 13 debtors pay their debts back over time and are allowed to keep what they own. How much your Chapter 13 plan requires you to pay will depend on many factors, including the amount by which your estate is not exempt, your income and your debts.

Assets can also be protected with “exemption planning”. If you work with an attorney and are careful you may be able to convert non-exempt assets into exempt assets. This process is complicated; however, and should not be attempted without advice from my office.

Never attempt to sell or transfer non-exempt assets without first meeting with a bankruptcy lawyer. Transfers can seriously complicate a bankruptcy and many Indiana debtors find they must wait up to 4 years to file a bankruptcy because they did not consult with an attorney before they committed the transfer.

Why Call My Bankruptcy Firm

Unsure of whether or not bankruptcy is right for you? Want to see if you are eligible for bankruptcy? I am ready to discuss all your options with you in a free case evaluation. Find trusted, dedicated advice today at John Steinkamp & Associates.

I have helped 1,000s of people to a fresh start
My firm is backed by strong client recommendations
14+ years experience handling only bankruptcy cases
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Unsure of whether or not bankruptcy is right for you? Want to see if you are eligible for bankruptcy? I am ready to discuss all your options with you in a free case evaluation. Find trusted, dedicated advice today at John Steinkamp & Associates.

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