Trusted Lake County, IN Chapter 7 Attorneys

Helping Individuals And Small Business Owners File For Chapter 7 Bankruptcy In Crown Point And Northwest Indiana

In today's tough economic climate, many families, individuals and small business owners struggle with debt and bills. More than ever, they can benefit from protection under Chapter 7 bankruptcy.

The Crown Point Chapter 7 lawyers at Manning & Mouratides, P.C., help you determine whether bankruptcy is the right choice for you, whether you qualify and which type of bankruptcy to seek. Chapter 7 allows you to discharge your debts and start with a relatively clean slate. Firm founder Kenneth A. Manning has been a Chapter 7 bankruptcy Trustee for more than 25 years. This experience affords him a unique perspective on the bankruptcy process. He understands every aspect of it because he has been a participant in hundreds of such cases.

We are also qualified Crown Point Chapter 13 bankruptcy attorneys and handle Chapter 13 filings when that is the appropriate option. Chapter 13 bankruptcy requires a debt payment plan and provides the debtor protection from creditor collection efforts.

When businesses and professionals need debt relief, we assist them in Chapter 11 bankruptcy.

When You Need An Experienced Chapter 7 Lawyer In Crown Point

For decades, we have walked clients through the entire Chapter 7 process — from considering the best course of action through final resolution of the bankruptcy. Clients are reassured by our experience, reputation and knowledge of every aspect of bankruptcy law.

Chapter 7 bankruptcy is the most common type and permits the court appointment Chapter 7 trustee to liquidate your non-exempt assets for distribution to creditors.

In a Chapter 7 bankruptcy, your assets will be divided into two categories: exempt and non-exempt.

Exempt assets are often best described as the necessities of life. This category of assets often includes the equity in your home and vehicle, your household furnishings and a 401k retirement account.

Non-exempt assets are the luxuries in your life that a trustee could seize and sell to pay off your creditors. Timeshares, boats, airplanes and tax refunds are considered non-exempt assets, among other items. One of our business bankruptcy lawyers in Crown Point will answer all your questions at the time of an office consultation.

In most cases, all of your property is exempt.

When Filing Chapter 7 Bankruptcy Makes Sense

Chapter 7 may be your best bankruptcy option if:

  • You cannot pay your debts
  • Your estate is small
  • You do not have any debts with co-signers

If you are behind on your mortgage or car loan and wish to keep your home or vehicle, then Chapter 7 most likely is not the best bankruptcy tool for you. Under Chapter 7, a secured creditor, such as a loan holder, maintains its right to take the collateral to cover your debt. Therefore, if you wish to keep these items, you will need to get current on the debts. However, our attorneys can help you become current on debts such as your mortgage payments or car payments using a Chapter 13 repayment plan. To determine which options are right for you, please give our attorneys a call to set up a free consultation

For more information, please see our Frequently Asked Questions About Bankruptcy.

Lake County, IN Chapter 7 Lawyers You Can Trust. It Is That Simple.

If you are considering filing for Chapter 7 bankruptcy, it is vital that you speak to an attorney who knows your options under the law. Contact Manning & Mouratides, P.C., online or at 219-865-8376 to capitalize on our Crown Point Chapter 7 attorneys' unwavering work ethic and decades of experience.

We are dedicated to providing the best legal representation to clients in Crown Point and all of Northwest Indiana.

We are a debt relief agency providing assistance in bankruptcy matters.