Merrillville Bankruptcy
Law Office of Rosalind G. Parr & Associates
What is Bankruptcy in Merrillville, Indiana?
Bankruptcy is a legal proceeding in which a person or business who cannot pay his, her or its bills can get a fresh financial start. The right to file for bankruptcy in Merrillville, Indiana is provided by federal law, and all bankruptcy cases are handled in federal court. Filing bankruptcy immediately stops all of your creditors from seeking to collect debts from you, at least until your debts are sorted out according to the law.
What Can Merrillville Bankruptcy Do for Me?
Bankruptcy may make it possible for you to:
- Eliminate the legal obligation to pay most or all of your debts. This is called a "discharge"of debts. It is designed to give you a fresh financial start.
- Stop foreclosure on your house or mobile home and allow you an opportunity to catch up on missed payments. (Bankruptcy does not, however, automatically eliminate mortgages and other liens on your property without payment.)
- Prevent repossession of a car or other property, or force the creditor to return property even after it has been repossessed.
- Stop wage garnishment, debt collection harassment, and similar creditor actions to collect a debt.
- Restore or prevent termination of utility service.
- Allow small businesses to reorganize.
- Allow you to challenge the claims of creditors who have committed fraud or who are otherwise trying to collect more than you really owe.
What Merrillville Bankruptcy Cannot Do
Bankruptcy cannot, however, cure every financial problem. Nor is it the right step for every individual. In bankruptcy, it is usually not possible to:
- Eliminate certain rights of "secured" creditors. A "secured" creditor has taken a mortgage or other lien on property as collateral for the loan. Common examples are car loans and home mortgages.You can force secured creditors to take payments over time in the bankruptcy process and bankruptcy can eliminate your obligation to pay any additional money if your property is taken. Nevertheless, you generally cannot keep the collateral unless you continue to pay the debt.
- Discharge types of debts singled out by the bankruptcy law for special treatment, such as child support, alimony, certain other debts related to divorce, most student loans, court restitution orders, criminal fines, and some taxes.
- Protect cosigners on your debts. When a relative or friend has co-signed a loan, and the consumer discharges the loan in bankruptcy, the cosigner may still have to repay all or part of the loan.
- Discharge debts that arise after bankruptcy has been filed.
contact us today
merrillville bankruptcy
Law Office of
Rosalind G. Parr & Associates
105 W. 86th Avenue
Merrillville, IN 46410
Phone: (877) 381-0018
OR (219) 756-3316
Website: Northwest Indiana Bankruptcy
Connect: Bankruptcy Lawyer Locator
about
rosalind g. parr
Rosalind Parr is a bankruptcy attorney who has been practicing law for 32 years. She graduated from Purdue University in Lafayette, Indiana in 1972 and received her law degree from DePaul University in Chicago, Illinois in 1977. Ms. Parr served as an assistant City Attorney for the City of Gary, Indiana for nine years and started her own law office in 1986. The largest part of her practice is devoted to assisting individuals and small businesses with debt relief. As a general practictioner, she also practices in other areas of law, such as real estate, probate and family law. She is licensed to practice law in the states of Indiana and Illinois and is available to provide bankruptcy services to clients in northwest Indiana. She has taught paralegal studies at Commonwealth Business School and has served on the boards of Edgewater Systems for Balanced Living and the YWCA of Gary, Indiana.
