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Indiana Increased Bankruptcy Exemptions in 2022. Here’s How it Affects You.

Sawin & Shea

In this blog, we’ll share the details regarding this exemption increase, the different exemption categories, and how these exemptions impact Chapter 7 and Chapter 13 bankruptcy. What Are Bankruptcy Exemptions?

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What Debts Are Not Discharged in Bankruptcy?

Sawin & Shea

What’s the Difference Between Chapter 7 and Chapter 13? Put simply, Chapter 7 is all about liquidation while Chapter 13 is about reorganization. In the case of a Chapter 7 bankruptcy, the court appoints a trustee who is in charge of selling off (liquidating) a declarer’s non-exempt assets.