Is bankruptcy necessary?
It may not be. The best option if you are considering this legal process is to have a complete analysis of your current financial circumstances – and then take the action best for you. We will spend the time necessary to evaluate your situation and to make our professional recommendations.

In bankruptcy, when are payment plans under Chapter 13 required?

Payment plans are required in bankruptcy if your income is too high, or you seek to keep too much equity in assets.  Generally, the more members of your household, the easier it is to qualify for a chapter 7 (no payment plan) bankruptcy.

How long do bankruptcy payment plans in Chapter 13 run?

Normally a Chapter 13 payment plan runs for 5 years. This can change depending on various factors.

Can I get a correction on my credit report?
Yes. The federal Fair Credit Reporting Act requires credit bureaus to investigate alleged errors.  If the information is indeed wrong, the credit bureau must correct it.  If there is incorrect information on your credit report, it can hurt your ability to borrow money, purchase a car, or finance a mortgage. Our law office can guide you in the correction process, and has materials available in a “do it yourself” kit.  This substantially lowers the cost for you in getting corrections done.  Our staff have the experience to help you with this issue.

What is debt settlement?
Debt settlement is becoming more and more popular as an alternative to bankruptcy. It is simply the process of negotiating to pay off debt, normally for a lesser amount than was previously owed, and paying the negotiated balance within sixty to ninety days.  Debt Settlement has certain problems attached to it which must be known: credit report damage, tax liability, and potential for lawsuits.  For many reasons, it is best to use an attorney who is local to your area when attempting to settle your debts.  If you need more information on debt settlement, contact the Law Offices of Mike Norris.  We will be happy to help you with full details on this process.

Why should I hire Mike Norris and Associates?
Mike Norris has been practicing law for 36 years, and has a wide variety of experience in legal and financial matters. We at Mike Norris and Associates care about solving your financial and legal difficulties, and we know how to help.  Continue to browse our website for timely information: real information for real people with real problems.  And remember: you’re one phone call away from finding help.  Isn’t it time for a good night’s sleep?

Note: We are a debt relief agency.  We help people file for bankruptcy relief under the Bankruptcy Code.

Indianapolis Small Business and Consumer Protection Attorney: bankruptcy, debt settlement, and student loan relief