Bankruptcy Indiana

If almost 25 years as a debt consolidation lawyer writing and teaching about bankruptcy information in Indiana has taught me anything, it's this: individual bankruptcy in Indiana and unemployment statistics go hand-in-hand.

Together with my colleagues in the Zuckerberg bankruptcy law offices in Bloomington, Anderson, and Indianapolis, I'm always following the news about Indiana jobs.  It's important for us to know who's hiring, who's firing, who's expanding, who's downsizing.  Inevitably, we see the results of employment trends in the form of people needing Indiana bankruptcy help.

This being the beginning of July, the May unemployment statistics have just been released.  Nationally, according to the Indianapolis Star, unemployment fell in 37 states in May.  Six states had increased unemployment, and seven saw no change from the month before.  As an Indiana lawyer for bankruptcy, I had mixed feelings upon learning that Indiana was one of the states whose jobless rate remained the same as the previous month - 10%.  Not that new jobs haven't been created - in fact, I've been writing about the many new opportunities that have already opened up or which are on the horizon for the next year or two.

I can tell things are not back to where they need to be, at least not yet.  I can tell by the increase in the number of people needing payday loan debt help, help in stopping foreclosure, and even student loan debt help.  In certain industries such as transportation, utilities, and construction there were net job losses, and in many cases I'm already seeing the results in the form of an increased number of people filing personal bankruptcy in Indiana.

The fact is, as any good bankruptcy attorney in Indiana can attest, clients emerging from bankruptcy need income from jobs.  If they've filed Chapter 7 bankruptcy, they need income to pay bills and get back on their financial feet.  Under Chapter 13 bankruptcy law in Indiana, clients need income to keep up with their three to five year debt repayment plans. 

i was sharing with the Columbus bankruptcy lawyers who are my colleagues that, as a longtime lawyer for bankruptcy, the way I see things is this:

Indiana may be better off than neighboring states when it comes to unemployment, but, however you slice it, a jobless rate of 10% isn't good news!