Chapter 7 Attorney in Indianapolis

How do I File for Chapter 7 Bankruptcy?

Below are the steps involved in filing for Chapter 7 bankruptcy:

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See if filing for Chapter 7 is right for you. Contact us or call (888) 713-5148 to request a free consultation. Our professional bankruptcy attorneys are ready to help.

Qualifications for Chapter 7 Bankruptcy

Prior to filing, you must be eligible by ensuring you have not filed for bankruptcy in the previous 180 days and by taking the means test, which evaluates your median household income compared with the state's median household income. If your income level is higher than the state's, you may still be able to file for Chapter 7 but can also move on to a Chapter 13 bankruptcy. If Chapter 7 is in your best interests and you prove eligible, our firm can help you file your petition.

Timeline for Chapter 7 Bankruptcy in Indianapolis

For those who are struggling with debt and are constantly being bombarded with creditor collection efforts and communications, it is not uncommon for a person to desire relief as quickly as possible. Fortunately, as far as legal procedures go, Chapter 7 is a relatively quick process.

On average, a Chapter 7 bankruptcy will take between four and six months from the time you file to the time you receive your discharge. There are certain circumstances, however, that may increase the time it takes to complete your bankruptcy.

Common situations that could extend your Chapter 7 bankruptcy include:

• The trustee must sell your property: Your bankruptcy may remain open for a longer period of time if your trustee is required to sell your property, particularly real estate.
• Your trustee requires more information: If your trustee requests that you supply them with additional documents not included in your initial filing, you could experience a delay until you provide the necessary items. The trustee may keep your 341 meeting of creditors open and postpone it until a later date.
• A creditor has more questions: Since there are usually multiple bankruptcy filers at a meeting of creditors, a bankruptcy trustee will usually designate roughly 10 minutes of time to each filer. This may not be enough time for a creditor to ask the appropriate questions. If a creditor is not satisfied with their examination, or if multiple creditors wish to question you, your trustee may schedule an additional hearing. This typically happens in more complicated bankruptcy cases, especially ones that involve possible allegations of fraud.
• A motion or complaint needs to be resolved: If litigation is involved, your case will often be open until any lawsuits are settled or decided by a judge. Complex lawsuits such as those regarding the nondischargeability of a debt or objections to your discharge can add at least six months to the duration of your case.
• You wish to discharge student debt: If you are hoping to eliminate your student loans, you must file a complaint with the court alleging that repaying the debt would cause undue hardship and either reach a settlement with the lender or proceed to trial. Student loan discharge cases can take more than a year to be settled.

Can IRS Debt Be Discharged in Chapter 7?

Many individuals struggling with overwhelming financial burdens wonder if filing for Chapter 7 bankruptcy can alleviate IRS debt. While some tax debts may be discharged, the process is complex, and specific criteria must be met. Understanding these requirements is essential for determining whether your tax liabilities qualify for discharge under Chapter 7 bankruptcy.

To be eligible for discharge, the IRS debt must meet several conditions. First, the debt must be income tax debt, as other types of tax liabilities, such as payroll taxes or fraud penalties, are generally non-dischargeable. Additionally, the debt must have been due at least three years before the bankruptcy filing. Another important factor is that the IRS must have assessed the tax at least 240 days before the bankruptcy filing. If any of these conditions are not met, the tax debt may remain your responsibility even after completing the Chapter 7 process.

Filing for Chapter 7 bankruptcy can provide significant relief for eligible individuals, but the inclusion of IRS debt requires careful evaluation. Consulting with an experienced Indianapolis Chapter 7 bankruptcy lawyer can help clarify whether your tax liabilities meet the necessary criteria for discharge and guide you through the filing process. Legal guidance is essential to ensure all aspects of your case are addressed effectively, helping you work toward a fresh financial start.

Consult with Our Indianapolis Chapter 7 Bankruptcy Attorneys

To get a more accurate idea of how long your bankruptcy case will take, it is important you consult with a Chapter 7 lawyer at Jackson & Oglesby Law LLC. With a 100% focus on bankruptcy law and more than three decade's worth of combined legal experience, we can guide you step-by-step through the bankruptcy process and help you pursue the smoothest resolution possible.

After bankruptcy, your creditors will no longer be able to take action against you! You will have a clean slate from which to repair your credit and create a strong financial future.

From start to finish, and even beyond your bankruptcy, our dedicated legal team is ready to help you achieve financial freedom. 

You can call (888) 713-5148 for a free case review. Contact us today! We serve Indianapolis, Greenwood, Muncie, and surrounding areas