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- 1). Get counseling. The U.S. Department of Justice requires anyone filing for bankruptcy to complete a credit counseling program given by an approved agency. The Justice Department website has a list of counseling programs that are approved for the state of Indiana.
- 2). Determine which type of bankruptcy you will file for. The most common type is Chapter 7, liquidation bankruptcy. Under Chapter 7, non-essential property is sold off and the proceeds given to creditors.
Another frequently used bankruptcy type is Chapter 13, which involves a court-supervised financial reorganization. - 3). Gather your financial records and use them to help you compute your debts and assets. Your paperwork should include items such as bills, loan documents and banking statements. All these documents should also be included in your bankruptcy paperwork when you file it with the court.
- 4). Obtain the paperwork that you'll need to file bankruptcy from either the Indiana Southern District Court or Indiana Northern District Court. The Northern District court has locations in Fort Wayne, Hammond, Lafayette and South Bend. The Southern District court has locations in Evansville, Indianapolis, New Albany and Richmond. Complete the paperwork, return it to the court and pay the required filing fees.
- 5). Attend any hearings regarding your case that are scheduled by the court. During one or more hearings, you may be required to provide proof of your financial situation to your creditors or other stakeholders. If your bankruptcy is approved, a court-appointed trustee will guide you through the process, including reorganizing debt, liquidating assets or developing a repayment plan.
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