Bankruptcy Indiana

As a longtime bankruptcy attorney and debt consolidation lawyer in Indiana, I'm keenly aware of the tie-in between bankruptcy and jobs.  Every one of the Anderson, Indianapolis, Bloomington, and Columbus bankruptcy lawyers who work in the Mark Zuckerberg bankruptcy law offices is seeing people who need help because they lost jobs.  Income from jobs - or lack of it -  is high on the list of discussion topics when we're talking to clients about filing bankruptcy in Indiana, that's for sure.

Last week, though, a statistic was released by the Equal Employment Opportunities Commission that showed me that, for some people, losing a job can be even more tragic than for others.  According to USA Today, "More people with disabilities filed charges of discrimination against their employers last year than at any time in the 20-year history of the Americans With Disabilities Act."

Nicholas LaRocca of the National Multiple Sclerosis Society thinks people with disabilities may be seen as less productive, and, in a recession, are more likely to be let go. That means an increase in the number of people who need to file individual bankruptcy in Indiana, and increase in people needing payday loan debt help, student loan debt help, and even help with mortgage modification.

When it comes to qualifying under Chapter 13 bankruptcy law in Indiana, debtors must show they have enough income to make debt repayments under a three to five year plan.  At least if Mr. LaRocca's impression is correct, finding new work might be doubly hard for disabled debtors. Even under Chapter 7 bankruptcy in Indiana, debtors need income in order to emerge from bankruptcy and get back to keeping their bills paid. While filing personal bankruptcy in Indiana can provide relief from creditors, income from jobs is a key ingredient if a new financial start is to be the result.

As I read this USA Today article, I was reminded that disabled individuals that were downsized obviously were able to work, which means they would probably not qualify for social security disability payments.  What's more, I realized (as a seasoned Indiana lawyer for bankruptcy used to dealing with debt problems), in many cases, the disabled need to pay for medical equipment and supplies.  Many are not in a position to purchase COBRA health insurance.

In my Bankruptcy in Indiana articles, I've often stressed how crucial it is to seek legal advice at the first sign of financial difficulty.  For all the reasons listed above, that goes double for disabled workers who are laid off.  The new bankruptcy laws of Indiana are there to provide a safety net, and it's important for laid off workers to be proactive about using that safety net. 

While I feel  doubly sad for the disabled who've been dealt a "double whammy" by losing their jobs, I feel doubly proud to serve in the profession of Indiana bankruptcy law whose mission it is to provide help and hope to debtors.