Craig Parker Law Attorney, Lawyer Craig Parker, Richmond In.

  Friday July 19 2024  
Attorney Craig Parker

Craig C. Parker • Parker Law LLC


The cost of living continues to rise, and all too often my clients are left with no other options but to file bankruptcy. Whether their problem stems from medical bills, credit card debt, divorce, pay day loans, repossessions, lawsuits or judgments, doing nothing can make a bad situation even worse quickly.


The most common type of bankruptcy is a chapter 7 which is often referred to as a "liquidation" proceeding. The objective of a chapter 7 is to discharge as much of your debt as possible while protecting as many of your assets as allowed by law. Many of my clients are shocked when they learn they are allowed to keep most if not all their property including cars, retirement accounts, cash, household goods and furnishings. The entire process usually only takes 4 to 6 months. The filing of a chapter 7 almost always provides immediate relief. Once a chapter 7 has been filed, creditors are forced by law to immediately stop:

• Lawsuits
• Repossessions
• Harassing phone calls
• Garnishments
• Foreclosure


Chapter 13 bankruptcy, often called a "wage earners plan" or "plan of reorganization", operates differently than a chapter 7. In a chapter 13, you develop a repayment plan. The repayment plan lasts over a 3-5 year period at a payment amount you can afford. Unlike a chapter 7 bankruptcy which simply eliminates your unsecured debts and has no payments, a chapter 13 bankruptcy can be a very powerful tool to solve certain types of problems. For instance, a chapter 13 bankruptcy allows an individual to stop foreclosures and cure their delinquent mortgage payments. Chapter 13 also helps with past due taxes, back child support, vehicles in jeopardy of repossession, divorce settlement obligations, and can in many cases eliminate 2nd mortgages while allowing you to retain your home.

Most clients are surprised to learn how affordable a chapter 13 bankruptcy payments can be. If you are in danger of losing your vehicle, home, or your wages are in jeopardy of being garnished you need to learn what a chapter 13 can do for you. The first step in solving any problem is learning what solutions are available. Together we can craft an affordable repayment plan that will protect your property and give you the peace of mind you deserve.

If you are facing insurmountable debt or an uncertain financial future, we can assist by carefully explaining your options under the federal bankruptcy code. We have filed hundreds of Chapter 7 and Chapter 13 bankruptcy cases for our clients. While many cases are routine, there are often issues that can arise and cause major problems for the debtor. You need an attorney that can identify these issues and explain what it means for you.

We are a Debt Relief Agency. We help people file for bankruptcy relief under the Bankruptcy Code.

If you would like more information or are interested in a consultation, call our office now.

A law firm and a debt relief agency.

Please call with any questions (765)-373-8065

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