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In this article, we will walk you through Indiana debt collection laws and some of the many exemptions that help you keep your personal, real, or intangible assets when you file for a Chapter7 in the State of Indiana. What is Chapter7Bankruptcy? Debt Collection Laws: What Can Debt Collectors Do?
For example, a Chapter7 to another Chapter7bankruptcy typically has an 8-year wait time. Or, a Chapter7 to a Chapter 13 bankruptcy may require people to wait 4 years. What is liquidationbankruptcy? Liquidationbankruptcy is another name for Chapter7bankruptcy.
However, because assets do not secure these debts, bankruptcy may help eliminate them. Understanding unsecured debt is the first step toward managing your finances better. To qualify for Chapter7bankruptcy, debtors must pass a means test that compares their income to their state’s median income.
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