Skip to Content
Live Agents Are Available 24/7 317-743-7958

Defining Personal Bankruptcy in Indiana

coins falling

Defining Personal Bankruptcy:     

     Personal bankruptcy is a great option to consider if you’ve found yourself in a tight bind with some serious personal debt. The debt can be incurred from any number of sources such as credit cards, medical bills, loans (personal or property), mortgage debt, and more. Personal bankruptcy is a way to start fresh, with a clean financial slate from any prior debts. Do keep in mind - personal bankruptcy only covers debt incurred by you, it does not account for debt incurred by a business, corporation, or a municipality.

Learning the difference - Chapter 7 v Chapter 13:   

      There are two forms of personal bankruptcy offered - chapter 7 and chapter 13. In a chapter 7 the debtor is able to liquidate part or all of their debt and in a chapter 13 the debtor has to repay part of all of their debt based on a 5-year repayment plan. Now, you might be wondering - How do I find out which one I could qualify for?

     The first step is to educate yourself as much as possible. There are numerous qualifications to consider when determining eligibility, and it all starts with consulting a practiced lawyer, being informed on all of the options available specifically to you to ensure you are filing for the appropriate chapter of bankruptcy. The main variance in each chapter comes from your personal debts.

Filing for Bankruptcy in Indiana, be prepared to dig deep:

     Some important facts to keep in mind: in order to file for a bankruptcy, there are enormous amounts of documentation that must be procured in order to fill out and file the petition. The documentation required is directly requested by the Trustee's Office, it is thorough and it digs deep into a person's financial health and wellness. This is done in order to have to most updated and accurate information so the Trustee may determine the best course of actions for the debtor.

     The quicker the client is able to provide all of the information, the quicker the attorney may fill out the petition and submit it into the bankruptcy courts. Filing takes time, once the Trustee receives it, they must thoroughly review the petition and schedule a hearing. The hearing is also known as the Meeting of Creditors or the 341 Meeting. In most instances, a chapter 7 petitioner is able to discharge their debts a lot quicker, since they do not require a repayment plan like in the chapter 13.

The United States Bankruptcy Courts:

     It is also noteworthy to know the U.S. Bankruptcy Courts are both federally and state regulated. All attorneys and petitioners must abide by both federal and state rules and guidelines. In the state of Indiana, the Bankruptcy Courts are divided into two districts - meaning each county falls under the jurisdiction of a specific district. The state of Indiana is divided into a Northern and Southern District. Furthermore, each county within the district has their own Trustee that handles the bankruptcy cases filed within that county. Due to this difference, that is why there are some significant changes within the districts, the ways of filing and some rules and regulations.

Speaking with an attorney from the Southern District of Indiana:

     Here at the Law Offices of Eugene Mogilevsky, LLC we are glad to serve the U.S. Bankruptcy Courts of the Southern District of Indiana! Check the list below to see if we service your county! If you’d like to schedule a consultation with our Personal Bankruptcy attorneys you can contact our office by submitting an online Contact Form at Contact Us | The Law Offices of Eugene Mogilevsky ( or you can call our office directly at (317) 743-7958 and one of our receptionists will be happy to schedule you for a phone consultation!

United States Bankruptcy Courts

Southern District of Indiana

Counties served include: Bartholomew, Boone, Brown, Clinton, Decatur, Delaware, Fayette, Fountain, Franklin, Hamilton, Hancock, Hendricks, Henry, Howard, Johnson, Madison, Marion, Monroe, Montgomery, Morgan, Randolph, Rush, Shelby, Tipton, Union, Wayne and more. For a full list please visit the link below.

Disclaimer: This blog post is for educational and informational purposes only and is not to be taken as legal advice in any capacity. Reading this blog does not constitute or establish an attorney-client relationship.

Reference: "United States Bankruptcy Court." Jurisdiction & Where to File | Southern District of Indiana | United States Bankruptcy Court,