Helping Individuals and Small Business owners file for Chapter 7 in Crown Point and Northwest Indiana

In today's tough economic climate, many families, individuals, and small business owners struggle with debt and bills. More than ever, they can benefit from protection under Chapter 7 bankruptcy.

The Crown Point Chapter 7 lawyers at Manning & Mouratides, P.C., help you determine whether bankruptcy is the right choice for you, whether you qualify, and which type of bankruptcy to seek. Chapter 7 allows you to discharge your debts and start with a relatively clean slate. Firm founder Kenneth A. Manning has been a Chapter 7 bankruptcy Trustee for more than 25 years. This experience affords him a unique perspective on the bankruptcy process. He understands every aspect of it because he has been a participant in hundreds of such cases.

When Do You Need An Experienced Chapter 7 Lawyer In Crown Point? 

For decades, we have walked clients through the entire Chapter 7 process — from considering the best course of action through final resolution of the bankruptcy. Clients are reassured by our experience, reputation and knowledge of every aspect of bankruptcy law.

Chapter 7 bankruptcy is the most common type and permits the court appointment Chapter 7 trustee to administer your case, including liquidation of any non-exempt assets. In a Chapter 7 bankruptcy, your assets will be divided into two categories: exempt and non-exempt.

Exempt assets are often best described as the necessities of life. This category of assets often includes the equity in your home and vehicle, your household furnishings and a 401k retirement account. Non-exempt assets are the luxuries in your life that a trustee could seize and sell to pay off your creditors. Timeshares, boats, airplanes and tax refunds are considered non-exempt assets, among other items. If you want to keep your assets and maximize the financial benefit of filing bankruptcy, it is imperative you have an attorney to assist you through this process. One of our bankruptcy lawyers in Crown Point will go through your assets with you to ensure they will be exempt and answer all your questions at the time of your office consultation.


Chapter 7 may be your best bankruptcy option if:

  • You cannot pay your debts

  • Your estate is small

  • You do not have any debts with co-signers

To determine which options are right for you, please give our attorneys a call to set up a free consultation.


For more information, please see our Frequently Asked Questions About Bankruptcy.


Lake County, IN Chapter 7 Lawyers You Can Trust. It Is That Simple.

If you are considering filing for Chapter 7 bankruptcy, it is vital that you speak to an attorney who knows your options under the law. Contact Manning & Mouratides, P.C., online or at 219-865-8376 to capitalize on our Crown Point Chapter 7 attorneys' unwavering work ethic and decades of experience.

We are dedicated to providing the best legal representation to clients in Crown Point and all of Northwest Indiana.

 

Chapter 13

When is Chapter 13 Appropriate?

Chapter 13 bankruptcy can be useful if you face foreclosure, repossession of a vehicle, wage garnishment, or if you owe the IRS or other taxing entity. It also protects you from persistent calls from creditors, lawsuits, frozen bank accounts, liens on your home, and other collection activity. If you are facing these issues, filing for Chapter 13 bankruptcy might be the best course of action.

Manning & Mouratides, P.C., is a Lake County, IN Chapter 13 law firm located in Crown Point on the historic square that guides financially struggling individuals and small business owners in their pursuit of financial relief. 

Chapter 13 bankruptcy was designed for individuals with regular income that is insufficient to cover their debts. Under Chapter 13, your debt is consolidated and you pay back a portion of the debt over three to five years, at low or no interest, and the remainder of the debt is erased. The repayment plan is overseen by a court-appointed trustee.


What You Need To Know About Chapter 13 Bankruptcy

Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, many cases that once were eligible for Chapter 7 relief now must be filed as Chapter 13 bankruptcies. When you file, our Chapter 13 attorneys include a proposed plan to pay certain priority claims against you, such as taxes, along with catching you up on your mortgage, eliminating unsecured debts, stripping off liens on your home, and other necessary actions. Once your plan is approved, you make monthly payments to the bankruptcy trustee, who then distributes the funds to your creditors according to your plan. Approval of your plan requires the skillful guidance of an attorney such as those at Manning & Mouratides, P.C.

At Manning & Mouratides, P.C., we have seen bankruptcy from all angles in our decades of bankruptcy law practice. We afford clients a unique perspective and knowledge of the process. At each stage, we ensure clients understand what is happening and the strategy for getting through it. We aim to eliminate the fear and confusion surrounding a bankruptcy.


When Filing For Chapter 13 Makes Sense

If you need some breathing room to pay your debts, Chapter 13 could be your best bankruptcy option, especially if you:

  • Are behind on your mortgage payments

  • Owe the IRS

  • Have previously filed for Chapter 7

  • Need relief from collection proceedings

  • Have debts with co-signers

  • Can pay your debts within three to five years

While some unpaid taxes cannot be discharged, a Chapter 13 bankruptcy may save you thousands of dollars in interest and penalties owed on those taxes. If you have large tax delinquencies, these savings may strongly favor a Chapter 13 filing.

For more information, please see our Frequently Asked Questions About Bankruptcy.


Crown Point, IN Chapter 13 Attorneys You Can Trust. It Is That Simple.

If you are considering Chapter 13 bankruptcy, it is vital that you speak to an attorney who knows your options under the law. Contact Manning & Mouratides, P.C., online or at 219-865-8376 to capitalize on our Crown Point Chapter 13 lawyers' unwavering work ethic and decades of experience.

We are dedicated to providing the best legal representation to clients in Crown Point and all of Northwest Indiana.

 

Chapter 11 Bankruptcy

Experienced Crown Point Business Bankruptcy Attorneys Are Available to Assist With Chapter 11 Reorganization In Lake County and Porter County

In our many decades of practice, Manning & Mouratides, P.C., has seen the stress that financial problems cause. When an individual or a business needs debt relief, there is no substitute our experienced Chapter 11 attorneys in Crown Point. The lawyers at our firm provide solid solutions to ease the transition through difficult financial times. For many years, Attorney Kenneth A. Manning has helped clients sort out difficult and complex business debt situations in Northwest Indiana. He is trusted by clients, who gladly recommend his services, and is respected for his resourcefulness and commitment to protecting clients' rights and property.


Our Crown Point Chapter 11 Attorneys Explain The Process

Chapter 11 bankruptcy, also known as a reorganizational bankruptcy, is most often chosen by businesses and partnerships. Its reorganization provisions are much more flexible than other types of bankruptcy, but it is often more costly. In general:

  • The debtor remains in possession of assets and continues business operations under court supervision

  • The debtor in possession must submit detailed monthly reports and negotiate with creditors to build consensus on a reorganization plan, so that the debtor company can emerge from the bankruptcy

  • The U.S. Trustee generally appoints a creditor committee comprised of the debtor's seven largest unsecured debtors

  • The creditor committee acts as a fiduciary to all other unsecured creditors, consults with the debtor, may investigate the debtor's conduct and operation of the business and plays a role in formulating and approving the reorganization plan


If your business is in financial trouble or you are contemplating bankruptcy, it is vital that you speak to one of our business bankruptcy lawyers in Crown Point. We know your options under federal bankruptcy laws. Our firm also handles Chapter 7 and Chapter 13 bankruptcies.

For more information, please see our Frequently Asked Questions About Bankruptcy.

Lake County, IN Chapter 11 Attorneys You Can Trust. It Is That Simple.

Contact Manning & Mouratides, P.C., online or at 219-865-8376 to capitalize on our Crown Point Chapter 11 lawyers' unwavering work ethic and decades of experience.

We are dedicated to providing the best legal representation to clients in Crown Point and all of Northwest Indiana.

 

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120 W. Clark Street, Crown Point, IN 46307

 

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(219) 865-8376 

(219) 865-8376

120 W Clark St, Crown Point, IN 46307, USA

We are a debt relief agency providing assistance in bankruptcy matters. ©Manning & Mouratides, P.C.

We Proudly Serve Lake and Porter County Communities, and Surrounding Areas, Including but Not Limited to: 

Crown Point, East Chicago, Gary, Hammond, Hobart, Lake Station, Whiting, Cedar Lake, Dyer, Griffith, Highland, Lowell, Merrillville, Munster, New Chicago, Schererville, Schneider, St. John, Winfield, Lake Dalecarlia, Lakes of the Four Seasons, Shelby, Ainsworth, Belshaw, Brunswick, Creston, Deep River, Deer Creek, Dinwiddie, Green Acres, Illinoi (partial), Klaasville, Kreitzburg, Leroy, Liverpool, New Elliott, Orchard Grove, Palmer, Range Line, Ross, Southeast GrovePortage, Valparaiso, Beverly Shores, Burns Harbor, Chesterton, Dune Acres, Hebron, Kouts, Ogden Dunes, Porter, Town of Pines, Aberdeen, Lakes of the Four Seasons, Salt Creek Commons, Shorewood Forest, South Haven, and Wheeler.