Is a Chapter 7 Bankruptcy Better than a Chapter 13? – South Bend Bankruptcy Lawyer

Posted on November 25, 2011 by jeffhaupt

Most people tend to understand some of the general differences between a Chapter 7 Bankruptcy and a Chapter 13 Bankruptcy. Is one Chapter better than the other? I, like most lawyers, will tell you that it truly depends on your situation. Some of the common differences between Chapter 7 Bankruptcy and Chapter 13 Bankruptcy include:

Liquidation of Debts under Bankruptcy Law

If you file a Chapter 7 Bankruptcy the goal is to liquidate (get rid of) the debts that you have. Under a Chapter 7 Bankruptcy the vast majority of your debts will be discharged, meaning that you do not owe them anymore. A Chapter 13 plan is more of a payment plan where you will pay back a portion of the amounts that you owe. This does not mean that you have to pay back the full amount of the debt owed, but rather some amount for each creditor will get paid back on a monthly basis under a Chapter 13 Bankruptcy Plan.

Length of Time it Takes to Get Your Bankruptcy

With a Chapter 7 filing, it usually ranges in the four (4) to six (6) month time period between the filing date and the time that you receive the letter telling you that your debts are discharged.

Under a Chapter 13 Bankruptcy plan, you can expect a time table of about three (3) to five (5) years before you are granted your Bankruptcy.

Keeping Your Assets Under Bankruptcy Law

One benefit that Chapter 13 can have is based on the amount property you can keep. Under a Chapter 13 you will likely be able to keep most of your property. This can be beneficial in situations where you may have quite a bit of equity in a home or a small business (and you are filing an individual bankruptcy).

Chapter 7 still allows you to keep a certain level of property (known as exemptions). This will vary from state to state and the type of assets that you are keeping. For instance, Indiana law allows you to exempt up to $17,600 of equity you may have in your home if you are a single filer and $35,200 for joint filers. You will also be allowed to keep a certain amount of personal property as well. For most people contemplating or needing to file for Bankruptcy, they will typically get to keep the majority of the items that they own.

Every Bankruptcy case can be different, that is where a Bankruptcy Attorney can help you understand the best situation for you.

if you need help with your bankruptcy in the south bend area (elkhart/mishawaka/goshen/plymouth) contact my law office for a free bankruptcy consultation. we are a debt relief agency, we help people file for bankruptcy under the us bankruptcy laws.

The Law Office of Jeffery M. Haupt is located in South Bend, Indiana and helps people handle family law issues such as divorce, child support, paternity, and child custody, criminal defense matters, DUIs, theft charges, and license suspensions; and financial matters such as Bankruptcy and Foreclosure. The information in this blog should only be used for educational purposes and not be construed as legal advice. Nothing in this blog creates an attorney-client relationship between me and any readers of this blog. No attorney-client relationship is created until you have a document from me saying so. DO NOT POST ABOUT CASE PARTICULARS IN THE COMMENT SECTION.

Facing Foreclosure in Indiana? – South Bend Foreclosure Attorney

Posted on November 23, 2011 by jeffhaupt

When facing foreclosure you may not know where to turn. Perhaps, you are considering using a private service that promises to get your loan modified. Wait! Save your money and attempt to contact your lender yourself before going down that road. You will find that many lenders in the early stages of the process will provide you with a great deal of information about loan modification programs that are available.

If you are finding yourself in the foreclosure process, essentially you have been served with court papers saying that your mortgage lender wishes to foreclose on you or the property, then the situation can get a bit more complicated. You may hear terms such as In Rem foreclosure or In Persona foreclosure. What does that mean? These terms are legal definitions that state how the bank will proceed.

If the foreclosure is by way of In Rem, typically that would mean that the mortgage company is essentially attempting to seize the property without seeking personal liability against you for any deficiency judgment that may exist. If the judgment is against you (or in persona) then the bank may have a remedy to recover any deficiency judgment that might exist against you personally. Believe me these are very simplified explanations and you should consult an attorney about the specifics of your situation.

So what are the first steps that you should take if you are facing a judicial foreclosure? Contact a lawyer! You are facing specific timelines to answer the complaint, to request a settlement conference, and to understand what your rights are! If you miss deadlines you could be faced with a default judgment, which would possibly allow the mortgage company to foreclose on your home without you having say in the process. A foreclosure lawyer will make sure that all proper court documents are filed, that settlement conferences are requested and that you understand the process.

Unemployed and have a child support order? – South Bend Child Support Lawyer

Posted on November 12, 2011 by jeffhaupt

Experiencing unemployment in and of itself can create a great deal of hardships for you. Obviously, the financial repercussions of a job loss are the hardest felt. With struggling to make ends meet, most people also wonder how they can afford their child support order.

If your Indiana child support order hasn’t been modified in a while, you may want to consider discussing this matter with a child support or family law attorney. They can help you understand how a court would examine your income (or lack thereof) in terms of a child support worksheet. Often times, Indiana courts will even consider a temporary change in child support to offer some relief to a non-custodial parent who has lost his or her job.

If you are in a situation where you are experiencing long-term unemployment, the most recent commentary to the Indiana Child Support Guidelines provides courts the ability to consider a deviation from the child support worksheet to produce a number that is more in line with the reality of what you can afford to pay.

The Law Office of Jeffery M. Haupt is located in South Bend, Indiana and helps people handle family law issues such as divorce, parenting time, child support, paternity, and child custody, criminal defense matters, DUIs, theft charges, and license suspensions. The information in this blog should only be used for educational purposes and not be construed as legal advice. Nothing in this blog creates an attorney-client relationship between me and any readers of this blog. No attorney-client relationship is created until you have a document from me saying so. DO NOT POST ABOUT CASE PARTICULARS IN THE COMMENT SECTION.

Understanding the Provisional Order in a Divorce – South Bend Divorce Lawyer

Posted on November 8, 2011 by jeffhaupt

Indiana divorce law requires that you wait a minimum of sixty (60) days before you can move forward with finalizing your divorce. What happens in the meantime if you have children, property issues, or need to maintain health insurance? This is where a provisional hearing and a provisional order can help out.

Provisional orders are addressed under Indiana Code 31-15-4. Under a provisional order the Court can hear evidence and issues related to the following items:

(1) Temporary maintenance.
(2) Temporary support or custody of a child of the marriage entitled to support.
(3) Possession of property.
(4) Counseling.
(5) A protective order under IC 34-26-5.

The idea is that the Court is going to try to maintain the status quo or provide some level of support during the pending divorce proceedings for the children as well as a spouse who may have been a stay at home parent. The Court will also address joint marital property and issue orders that may prevent either party from disposing of marital assets.

if you need a divorce lawyer, contact me today.

Felony Charges and Child Support – Indiana Child Support Lawyer

Posted on November 1, 2011 by jeffhaupt

Indiana law has two different felonies under which a person can be charged for failing to pay child support. Essentially, the way that the statute is written, is that it is possible to be charged with a Class D Felony for missing a single payment, although, you would be hard pressed to find a prosecutor willing to do that. If the amount of child support arrearage alleged is over $15,000 then it is possible for the charge to be a Class C Felony.

What happens if I am charged with a child support felony?

Once you are charged with a Felony for failing to pay child support, your case will be treated like any other criminal charge. You have the same rights as you would have if you were charged with a crime such as theft. The Court will first determine if probable cause exist and if so a warrant will be issued for your arrest and an initial bond will be set. Once you are brought before the Court (or appear before the Court if you bond out) the court will determine whether or not you will be hiring counsel or if a public defender will be appointed and what your initial plea will be (typically not guilty).

After the initial hearing, the court will set several different hearings such as an omnibus date, a record date, plea bargain deadline date, and a trial date. The first couple of dates are used for the purposes of allowing the prosecutor’s office to amend charges. The plea bargain deadline date is the date that the Court wants the State and the Defendant to reach an agreement by (if there isn’t going to be a trial). Finally, the trial date is set as well. Again, just like any other criminal case, you have the right to a jury trial.

What happens if I am found guilty of felony non-support?

The most important thing to understand is that most cases that reach this point, are well beyond the civil enforcement stage (contempt hearings, driver’s license suspension, etc). Most prosecutors are seeking punishment at this point. If you are faced with a Class D Felony Non-Support case, you could be looking at a possible jail sentence in the range of 6 months to 3 years. If you are faced with a Class C Felony Non-Support case, you could be looking at a possible jail term between 2 to 8 years.

Remember, that just because you are found guilty or plea guilty doesn’t necessarily mean that you would serve 8 years automatically. There are many factors that go into a sentencing hearing, such as the nature of the offense, prior convictions, what sort of sentence agreement might have been made in the plea deal, etc. If the court does order a sentence, the court can suspend the sentence and order you to serve a term of probation, execute the sentence, execute part of the sentence, have the defendant serve the sentence through a community corrections program, etc.

South Bend Lawyer – Jeffery M Haupt

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Monthly Archives: November 2011