We help Americans who are suffering due to unmanageable debt. In the worst cases, this debt can result in repossession, creditor harassment, and foreclosure. Unfortunately, most individuals who suffer from debt are unable to recover without assistance. Overwhelming credit card debt and mounting bills make paying off debt impossible. At Tanzillo Stassin & Babcock, P.C., our attorneys are experienced in achieving debt relief to help our clients get back on track.
Most people who are under financial distress have suffered an unforeseeable event, such as a job loss, injury, or divorce. Even where consumers are responsible for years of credit card use, the slowed economy can force debtors over the edge. It is important to remember that bankruptcy is your option and your right. The Federal Bankruptcy Code allows individuals to seek debt relief and achieve a “fresh start” when debt becomes unmanageable.
Attorney Larry Stassin has over 19 years of bankruptcy experience. He will take the time to understand your individual circumstances and develop a debt relief strategy compatible with your needs and long-term interests. Before pursuing bankruptcy, we will take the time to explore your rights and options so that you can be comfortable with the financial decisions you make for you and your family.
We are experienced in Chapter 7, Chapter 13, and Chapter 11 bankruptcy.
Chapter 7 bankruptcy allows you to eliminate all unsecured debt including medical expenses and credit card debts. Under Chapter 7, you are not able to discharge child support, taxes, mortgage arrears, or school loans unless you fall within certain limited exceptions. However Indiana exemptions are generous and we can help you develop a plan to keep your assets.
Chapter 13 bankruptcy is available to individuals with a significant amount of secured debt. Many people file for Chapter 13 if they do not qualify for Chapter 7 or if they want to stop the foreclosure of their home. Chapter 13 allows you to repay debt over a 3 to 5 year period. Monthly payments are made to a trustee based on your income, expenses, and overall ability to pay. After the pay period, your debts are discharged.