A city located in Jackson County, Indiana, Seymour has a population of about 17,503. At least that was the population recorded for the 2010 census. About 4,514 families reside in Seymour. Many of these families have been hard hit financially ever since the financial collapse of 2008. As a result, more residents than ever are going to see a bankruptcy attorney in seymour to get advice about filing for bankruptcy. If you have lost your job or if you have had a major medical crises happen that has left you in financial straits, you may be thinking of filing for bankruptcy yourself. Filing for bankruptcy is not an easy process to go through and it really does need the help of a bankruptcy attorney in seymour for this process to be completed correctly and in the most timely manner.
Residents who have gotten a foreclosure notice on their home may also want to go talk to a bankruptcy lawyer in Seymour, as filing for bankruptcy can put a foreclosure on pause. You may be able to keep your home after you file for bankruptcy too. There are different kinds of bankruptcies to file for. The most common bankruptcies that people file for are for a Chapter 7 or for a Chapter 13 bankruptcy. With a Chapter 7 bankruptcy the debtor can have most of their debt wiped clean so they can start over. However, you cannot discharge a student loan or child support payments or money you owe because your were found guilty of fraud. You will also not be allowed to keep certain assets. It is best to go to a bankruptcy attorney in seymour for more information on a Chapter 7 bankruptcy.
With a Chapter 13 bankruptcy, you can keep your assets, but you will keep your debt too. The key to this kind of bankruptcy is debt restructuring. In other words, your monthly payments can be reset and adjusted so that they are more affordable for you to pay each month. Your bankruptcy attorney in Seymour can explain more about a Chapter 13 bankruptcy.
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