As I was saying in my last Bankruptcy in Indiana article, every story has a moral. I like to use news stories about bankruptcy to help clarify to readers and clients the way the bankruptcy process works.
With that educational purpose in mind, one of my Columbus bankruptcy lawyer colleagues picked up on a happy-ending bankruptcy story out of Battle Creek, Michigan. Since many Indiana small business bankruptcy cases are handled out of our five Zuckerberg bankruptcy law offices, this story about a Battle Creek restaurant, she knew, could offer encouragement to our business owner clients who are facing the decision whether to file under Indiana bankruptcy law.
The downtown Battle Creek restaurant Clara’s on the River actually just emerged from bankruptcy after filing just one year ago. I think Bankruptcy in Indiana readers will find this list of reasons the owners of Clara’s gave for filing in the first place very, very familiar:
- Poor economy
- Death of a partner
- Failure of a delicatessen project they’d started
- Floating mortgage rate that went up a lot
The point of the story is that the business fell victim to forces that, for the most part, were outside the owners’ control. I've been offering bankruptcy services in Indiana for more than twenty-six years, and every single day of my work, I see confirmation that bankruptcy is meant to help people whose financial problems are simply too overwhelming to handle on their own. It is not a punishment, nor a "handout" to people who were irresponsible in handling their affairs.
And why should everyone contemplating filing small business bankruptcy in Indiana (or even individual Indiana bankruptcy) see the Clara’s restaurant story in such positive light? Owner Ross Simpson expresses it all:
“I don’t think people will notice any difference other than less pressure on my forehead and couple of gray hairs. The outlook is pretty optimistic because our customers continue to support us.”
That’s precisely the effect my work is designed to create – whether I’m offering student loan debt help, payday loan debt help, helping stop foreclosure, or simply helping business owners reorganize their finances – an outlook that’s pretty optimistic after my clients emerge from bankruptcy in Indiana!
Categorised in: Bankruptcy Indiana
This post was written by Mark Zuckerberg