Bankruptcy Indiana

It's June now, but we're just getting the April numbers.  The news isn't good.

Yesterday, as part of my work as a debt consolidation lawyer providing bankruptcy information in Indiana to clients and readers, I shared some very hopeful pieces of news about the job markets in Indiana.  Today, though, my topic for Indiana bankruptcy help  is foreclosures.  As the Indianapolis Star reported, "Indy-area foreclosures soared 17% in April" (as compared with April one year ago).

As a lawyer for bankruptcy in Indiana, I spend a hefty percentage of my time with clients who want to help stop foreclosure on their homes.  The Columbus bankruptcy lawyers and my colleagues in the Anderson, Bloomington, and Indianapolis Mark Zuckerberg bankruptcy law offices are all involved along with me in foreclosure prevention efforts, using several tools and strategies:

• Financial  counseling: In some cases, clients might actually be better off stepping away from the pressure of property ownership.  It depends on the situation.  Lending a sympathetic, yet legally informed, ear, can help clients arrive at an informed decision about their home.
   
• While under current law, bankruptcy courts cannot discharge mortgage debt, filing individual bankruptcy in Indiana can sometimes itself help stop foreclosure.
   

 b) Under the new Chapter 13 banakruptcy laws in Indiana, second mortgages can often be discharged through the bankruptcy, freeing up money to keep up with the primary mortgage.

c) My colleagues and I help clients negotiate with their lenders for mortgage                         modifications.

d) I keep Indiana readers and bankruptcy clients up-to-date on foreclosure prevention organizations, resources, and events around our state.  For example, I've reported on:

                              Citigroup's Foreclosure Alternatives Program

                               The Indiana Foreclosure Prevention Network
                             
                              Bank of America's Loan Modification Program

                              Free HAMP Report website

                               Chase Foreclosure Prevention Events

As a long-time Indianapolis bankruptcy lawyer, I've been repeating this message for years, and repeating it with increasing urgency as the foreclosure problems have escalated in Indiana:

People need help to stop foreclosure!