Bankruptcy Indiana

Since one of the four Mark Zuckerberg bankruptcy law offices is in Anderson, I'm interested in news from that area, including neighboring Muncie, home of Ball State University.  That's especially true when the news has to do with jobs.  As a debt consolidation lawyer offering bankruptcy information in Indiana, I'm always looking for news about job markets.  As my Bankruptcy in Indiana readers and Indiana bankruptcy clients are used to me repeating, successfully emerging from personal bankruptcy in Indiana depends upon steady, adequate income from jobs.

Economics professor Michael Hicks, director of the Ball State University Center for Business and Economic Research believes "Indiana is starting to see the light of recovery".   And while Hicks admits that right now our state is continuing to lose jobs, he sees us as being back to "full employment" in 2011. The federal government reports that initial jobless claims have fallen to their lowest point since early May. 

Needless to say, I and the good bankruptcy attorneys in Indiana who are my colleagues take these reports with a big grain of salt. As clients continue to come to us for help filing individual bankruptcy in Indiana, we're finding that, in more and more cases, a job loss was the beginning of the financial slide that led these financially responsible people to the point of considering bankruptcy.

Still, I am reading some good-news developments.

• Auto supplier NTN Driveshaft in Columbus has been approved for a tax abatement that will keep more than 1,200 jobs in Bartholomew County.
   
• Again in the Columbus area, Cummins Engine announced it's expanding its nearby Seymour operation, and will be creating 200 new jobs over the next five yea

(The Columbus bankruptcy lawyers who work in the Zuckerberg bankruptcy law offices in that city were mighty glad to hear both these pieces of news!)
 

• In another part of the state, Saratoga Potato Chips LLC intends to locate its U.S. headquarters in Ft. Wayne and create up to 175 jobs.

(With Zuckerberg bankruptcy law offices in Anderson, I'm sure this news will someday result in helping Chapter 7 bankruptcy clients in Indiana emerge from bankruptcy and get back on their financial feet.  Those that have filed under Chapter 13 bankruptcy law in Indiana will have a much better chance at keeping up with their 3-5 year debt repayment plans.

The one big negative piece of news this week cam from the Indiana Family and Social Services Administration's Division of Mental Health and Addiction.  It will transfer many patients from state hospitals to community-based care, eliminating 355 jobs in Logansport State Hospital, plus another 106 positions at Richmond State Hospital.

For all of the more than twenty years I've been in practice as an Indianapolis bankruptcy attorney, loss of a job has been one of the three leading causes of bankruptcy in Indiana, along with divorce and medical expenses. In recent years, job loss has become a gigantic factor in bankruptcy.  That's the reason I think it's important to keep reporting how we're doing in the job market department.  In the meanwhile, I just keep helping people take advantage of the bankruptcy safety net system to make a fresh financial state - one person, one family at a time.