Bankruptcy Attorney Indiana

Everyone's hoping that 2010 will be better than 2009 (anything would be better!), and Creditcards.com agrees.  In keeping track of bankruptcies per capita for each state for 2009, the website puts Indiana at a per capita rate of 5 - 5.9 bankruptcies filed for each 1,000 residents.

While we're far behind Nevada, with 11 bankruptcies per 1,000 residents, that's no comfort for any Hoosier, least of all for me. As a bankruptcy attorney in Indiana for close to 25 years, I know that 5 in 1000 translates into far too many bankruptcy filings.

A fellow attorney commented that, "earlier in the decade, if you had an economic problem, you could mortgage your way out of it."  I have to agree - that kind of "solution" doesn't seem to be available today, what with the collapse in home prices and the decrease in the number of available jobs (which serve as the basis for qualifying for home equity loans).  We're all seeing this change, the Anderson, Bloomington, Indianapolis, and Columbus bankruptcy lawyers who work in the Zuckerberg bankruptcy law offices in each of these Indiana locations - you just can't mortgage your way out this time!

As a debt consolidation lawyer for so many years, I'm used to seeing home equity lines of credit being used to reduce credit card debt.  Instead, nowadays, I'm working to help stop foreclosure by negotiating mortgage modifications for my Indiana bankruptcy clients.
Creditcard.com reports on other changes on the national bankruptcy landscape as well, showing that the percentage of consumers filing bankruptcy Chapter 7 is increasing, while the number qualifying under Chapter 13 bankruptcy laws is dropping.

In order to offer the most up-to-date Indiana bankruptcy help, I try to read everything I can about real estate, financial planning, taxes, and employee benefits.  When it comes to real estate, forecasts are far from rosy. More foreclosed properties are predicted to hit the market this year.

So, while bankruptcy will continue to offer relief from harassment by creditor and to buy time for individuals and small businesses to plan how to handle financial problems, one thing is all too plain: We won't be able to mortgage our way out of this one!