Bankruptcy Indiana

Yesterday I wrote about the "B" word, and how often individuals put off considering filing personal bankruptcy in Indiana longer than they should.  Likewise, business owners allow fear of the "B" word to stop them from using small business bankruptcy in Indiana to help buy time to make decisions and to chart a course for the future of their business.

As a debt consolidation lawyer offering Indiana bankruptcy help, I'm following the Blockbuster story as it unfolds.  (No, I do not handle mega-corporations, only small business bankruptcy in Indiana, along, of course with personal bankruptcy in Indiana.)

However, with Zuckerberg bankruptcy law offices serving 55 counties in Indiana, I realized, just about every one of these has one or more Blockbusters stores!  And, according to CEO Jim Keyes (as reported in the Wall Street Journal) "the movie rental chain is seeking short-term financing that would help it stay afloat during bankruptcy proceedings." (Here's the part I want to stress to my individual and small business bankruptcy clients in Indiana):  "should the company fail to restructure on its own."

Blockbuster's plans are to possibly file Chapter 11 bankruptcy, so that they can be a debtor in possession.  That means the company would remain in possession of its property and continue to operate its business under court supervision.

As any of the good bankruptcy attorneys in Indiana who are my colleagues would agree, the best time to have a discussion with an Indiana lawyer for bankruptcy is at the first signs of financial problems.  That's when all the options are likely to be open, and that's how you can be prepared to file bankruptcy in Indiana "should you fail to "restructure on your own!"