Bankruptcy Indiana

Today I have three pieces of hopeful news to share. Believe me, as an Indiana bankruptcy attorney, it brings me pleasure to begin this third week of my third year on a happy note. Don't get me wrong - the bankruptcy law offices of Mark Zuckerberg have been established in Indiana for almost twenty five years.  But 2010 marks the beginning of my third year offering Indiana bankruptcy information through blogs.

Looking back, I would say that 10-15% of my blog posts have had to do with the employment markets in Indiana.  Needless to say, the many job layoffs over the past couple of years have been a big contributing factor in the rise in bankruptcy in Indiana.  But that's not the reason I devote so much blog space to employment-related topics.  It's just that, as I've stressed so often before, the most important part of bankruptcy isn't the filing part - it's the emerging part. And emerging from bankruptcy means getting back on your financial feet, which takes income.

• If you file Chapter 13 individual bankruptcy in Indiana, you need to have a regular income that allows you to keep up with your debt repayment plan.  If, through helping you file that Chapter 13, I've been able to keep you in your home and get rid of your second mortgage, you still need income to keep up payments on the first mortgage!
  
• Even if many of your debts were discharged through Chapter 13 bankruptcy laws or Chapter 7 bankruptcy laws,  you may need income to pay child support. 
  
• Even after I've provided student loan debt help, there may be regular student loan payments to make.  In all boils down to income, and that means employment, doesn't it? 

One piece of good news is very welcome for many blog readers and bankruptcy clients in Indiana: Congress has extended its COBRA subsidy for the next six months.  That means thousands of jobless Hoosiers will be able to have affordable health insurance, at least for the first half of this year.  This latest legislation extends the 65% government subsidy of the premiums to a total of 15 months after layoff.

Meanwhile, I learned, Hilex Poly, the plastic bag recycling company, is adding 21 jobs at its North Vernon plant, using a supermarket take-plan plan called Bag-2-Bag.

On a longer-range but even larger scale, there's good news about Think City cars.  A 415-employee electric car battery manufacturing plan is being established in Elkhardt.  While the plan won't be fully operational until 2013, this is excellent news for two reasons: First, the idea is "to put the first relatively affordable electric car on American roads, bringing Indiana to the forefront of the new, "green manufacturing" stage. Second, Think buys all its components from other companies, which can indirectly boost employment overall.  As the Indianapolis Star's Ted Evanoff and Bruce Smith put it, "Indiana's plugged into an auto revival."

Revival, fresh financial start - those are the kind of results the Indiana bankruptcy services I provide are meant to bring.  Those results can happen only with a revival in job opportunities.  Looks like we're headed in the right direction!