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Indianapolis-based bankruptcy law office specializing in Chapter 7 and Chapter 13 filings with $0 down payment options and both in-person and online service.
Data compiled from public sources
Bymaster Bankruptcy Law Offices was founded in 2008 by attorney John Forest Bymaster and his sister Anna Carothers (now Bymaster) in response to the economic crisis. The firm was deliberately structured around three core principles: accessibility, affordability, and a stress-free, hospitable client environment. The original office is located northwest of Indianapolis but has expanded to serve all of Indiana through virtual appointments.
The firm specializes exclusively in consumer bankruptcy relief, primarily Chapter 7 (liquidation) and Chapter 13 (reorganization/debt consolidation) filings. Chapter 7 cases eliminate unsecured debts like credit cards, medical bills, and personal loans within approximately 60 days. Chapter 13 cases consolidate debts into a single monthly payment over 3-5 years and can halt foreclosures or aggressive collection activities. The firm advertises $0 upfront payment options and describes itself as offering "super affordable" legal fees on the low end of the market spectrum.
Bymaster distinguishes itself through several operational choices: they emphasize in-person relationship-building while maintaining modern virtual capabilities, they offer free initial consultations with no obligation, they provide free supplementary resources (financial plans, credit repair plans, bankruptcy e-books), they claim to have filed thousands of cases, and they advertise a simplified, step-by-step process with brief trustee meetings (10 minutes or less). The firm also offers online document upload, online bankruptcy filing, and online course completion for mandatory bankruptcy education.
The firm appears legitimate and established (16+ years in operation), with founder credentials and client testimonials visible on the website. However, the website contains marketing language typical of consumer bankruptcy practices ("thousands" of cases, emphasis on affordability and friendliness) and lacks comparable public verification context, detailed attorney credentials, disciplinary history, or specific client outcome data. The promise of $0 down likely depends on financial qualification and payment plan arrangements.
This is state-level context for Bankruptcy Services consumers in Lebanon, IN. It does not confirm that Bymaster Bankruptcy Law Offices or this specific location is licensed.
State regulator
Indiana Department of Financial Institutions
Consumer protection
Relevant law: Indiana Credit Services Organizations Act (Ind. Code § 24-5-15-1 et seq.)
Registration: Required with Indiana Attorney General
Upfront fees: Listed as prohibited in the current CreditDoc state summary
Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.
Bymaster Bankruptcy Law Offices offers 12 services including Chapter 7 bankruptcy filing and representation, Chapter 13 bankruptcy filing and debt reorganization, Free initial bankruptcy consultation, Free financial planning and analysis, Free credit repair planning, and 7 more.
Bymaster Bankruptcy Law Offices has profile signals associated with Indiana residents with unsecured debt seeking Chapter 7 liquidation with minimal income, Homeowners facing foreclosure who need Chapter 13 reorganization to restructure mortgage payments, Consumers prioritizing in-person relationships and communication with their bankruptcy attorney, Low-income filers unable to afford upfront legal fees and needing payment plan options.
Key strengths: $0 down payment options available for eligible clients; Free initial consultation with no obligation; Both in-person and online appointment availability across all of Indiana. Areas to consider: Website contains marketing claims ("thousands of cases," "Indiana's Largest Bankruptcy Website") without comparable public verification context or third-party ratings visible; No published attorney credentials, bar standing, or disciplinary history information on the website.
In the Bankruptcy Services category, comparable providers include American National Tax Relief, Mike Norris Law Offices, Peter Francis Geraci Law L.L.C.. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.
CreditDoc Profile Note
Bymaster Bankruptcy Law Offices is profile signals for Indiana consumers seeking affordable, personalized Chapter 7 or Chapter 13 bankruptcy relief who value in-person attorney relationships and have limited upfront capital. The main caveat is that the firm's marketing claims lack comparable public verification context, actual fee structures are not transparently published, and there is no visible third-party rating or disciplinary history data available to assess legitimacy or performance.
Indianapolis-based tax attorney firm specializing in IRS debt resolution, offering offers in compromise, installment agreements, and penalty abatement to reduce or eliminate tax liabilities.
Profile signals: Self-employed individuals with accumulated back taxes and inconsistent income history, Business owners who owe substantial tax debt ($20,000+) to the IRS
Mike Norris Law Offices provides bankruptcy legal representation for individuals and businesses filing Chapter 7 and Chapter 13 cases.
Profile signals: Individuals overwhelmed by debt, People facing creditor lawsuits or wage garnishment
Peter Francis Geraci Law L.L.C. is a bankruptcy law firm with 30+ offices across Illinois, Indiana, and Wisconsin, specializing in Chapter 7 and Chapter 13 filings for debt elimination and consolidation.
Profile signals: Consumers with $275+/month in qualifying debt seeking Chapter 7 elimination or Chapter 13 consolidation in Illinois, Indiana, or Wisconsin, Individuals who previously filed Chapter 7 bankruptcy (8+ years ago) or have failed Chapter 13 cases needing legal assistance with a new filing
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Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
When you fail to repay a loan according to the agreed terms — usually after 90-180 days of missed payments. It's the point where the lender gives up on collecting normally.
Default triggers severe consequences: credit score drops 100+ points, the debt may be sent to collections, you could be sued, and your wages or assets could be seized.
Example
You miss 4 consecutive car payments. The lender declares your loan in default, repossesses your car, sells it at auction for $8,000, and you still owe the remaining $5,000 (called a deficiency balance).
A federal agency created in 2010 to protect consumers from unfair financial practices. They write rules, supervise financial companies, and handle consumer complaints.
The CFPB is your most powerful ally against high-cost lenders. Filing a complaint with them gets a response from the company within 15 days — companies take CFPB complaints seriously.
Example
A debt collector calls your workplace after you told them to stop. You file a CFPB complaint online. Within 15 days, the collection agency responds and agrees to stop. The CFPB tracks complaint patterns across all companies.
A federal law that limits what debt collectors can do. They can't call before 8am or after 9pm, can't harass you, can't lie, and are required to stop contacting you if you request in writing.
Knowing your FDCPA rights stops abusive collection tactics. If a collector violates the law, you may have a right to sue for up to $1,000 per violation plus attorney fees.
Example
A collector calls your workplace 3 times after you told them not to. That's 3 FDCPA violations. You hire a consumer attorney (free — they get paid by the collector). The collector settles for $3,000.
A court order that requires your employer to withhold part of your paycheck and send it directly to a creditor. Usually happens after a creditor sues you and has obtained a judgment.
Federal law limits garnishment to 25% of disposable income. Some states have lower limits. Student loans and taxes can be garnished without a court order.
Example
You owe $8,000 on a defaulted credit card. The bank sues, gets a judgment, and garnishes your wages. On a $3,000/month net paycheck, they take $750/month until the debt is paid.
A time limit (typically 3-6 years, varies by state) after which a creditor can no longer sue you to collect a debt. The debt still exists, but they lose the legal power to force payment.
Knowing your state's statute of limitations prevents you from being tricked into paying debts that are legally uncollectable. Beware: making a payment can restart the clock.
Example
You have a $3,000 credit card debt from 2019. Your state has a 4-year statute of limitations. In 2024, a collector calls demanding payment. The statute has expired — they cannot sue you.
A type of bankruptcy where you keep your assets but follow a court-approved 3-5 year repayment plan to pay back some or all of your debts. Stays on credit for 7 years.
Chapter 13 may be more relevant than Chapter 7 if you have a home or assets you want to keep. It can stop foreclosure and let you catch up on mortgage payments over 3-5 years.
Example
You're 3 months behind on your mortgage and have $30,000 in credit card debt. Chapter 13 stops foreclosure and puts you on a 5-year plan: you pay $600/month to catch up on the mortgage and pay 40% of the credit card debt.
A type of bankruptcy that wipes out most unsecured debts (credit cards, medical bills) by liquidating non-exempt assets. It stays on your credit for 10 years.
Chapter 7 gives you a fresh start but at a steep cost: 10 years on your credit, difficulty getting loans, and you may lose assets. Income is generally required to be below your state's median to qualify.
Example
You have $45,000 in credit card debt and earn $35,000/year. Chapter 7 erases the debt. You keep exempt property (basic car, household items). Your score drops to ~500 but you're debt-free.
When a creditor declares your debt a loss after 180 days of nonpayment and removes it from their books. But you still owe the money — they just stop expecting to collect it themselves.
A charge-off is one of the most damaging entries on your credit report and stays for 7 years. The debt is usually sold to a collection agency who will pursue you for it.
Example
You stop paying your $4,000 credit card. After 180 days, the bank charges it off and sells the debt to a collector for $800. The collector now contacts you demanding the full $4,000 (they profit from what they collect above $800).
When an unpaid debt is transferred or sold to a third-party collection agency that specializes in recovering the money. Collection accounts appear on your credit report for 7 years.
Even a $50 collection account can drop your score 50-100 points. Some newer FICO models (FICO 9) ignore paid collections, but many lenders still use older models.
Example
An old $200 gym bill goes to collections. It appears on all 3 credit reports and drops your 720 score to 640. Paying it helps with newer scoring models but under FICO 8 (still widely used), a paid collection still hurts.
Combining multiple debts into one single loan with one monthly payment, ideally at a lower interest rate. It simplifies repayment and can reduce total interest.
Consolidation is generally most useful when you get a lower rate than your existing debts. But it doesn't reduce what you owe — and extending the term can mean paying more total interest.
Example
You have: $5,000 at 22% (credit card), $3,000 at 18% (store card), $2,000 at 25% (payday loan). A $10,000 consolidation loan at 11% saves you ~$2,100 in interest over 3 years.
Negotiating with creditors to accept less than the full amount you owe — typically 40-60 cents on the dollar. Usually done after you've already fallen behind on payments.
Settlement can save thousands, but it severely damages your credit (settled accounts show for 7 years) and the IRS may tax the forgiven amount as income.
Example
You owe $15,000 on a credit card and negotiate a settlement of $7,500 (50%). You save $7,500 but: your credit drops 100+ points, the account shows 'settled' for 7 years, and you may owe taxes on the $7,500 forgiven.
The percentage of your monthly gross income that goes toward paying debts. Lenders use it to judge whether you can afford another loan payment.
Most lenders want DTI below 36% for personal loans and below 43% for mortgages. Above that, you're considered overextended and likely to be denied.
Example
You earn $5,000/month gross. Your debts: $1,200 mortgage + $300 car + $200 student loans = $1,700/month. DTI = 34%. A new $400/month loan would push you to 42% — risky for lenders.
A court ruling that says you legally owe a specific amount to a creditor. It gives the creditor power to garnish wages, freeze bank accounts, or place liens on your property.
Judgments are enforceable for 10-20 years (varies by state) and can be renewed. They give creditors far more collection power than a simple unpaid debt.
Example
A credit card company sues you for $8,000 and has obtained a judgment. They can now garnish 25% of your paycheck ($750/month on a $3,000 net salary) and freeze your bank account.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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