There’s a reason that I, a debt consolidation lawyer offering bankruptcy services in Indiana, continue to follow every bit of news about employment in our state. There’s very simply very little about bankruptcy that isn’t related to income from jobs.
I and all the good bankruptcy attorneys in Indiana who work in the Zuckerberg bankruptcy law offices were glad to read the following headline: “Indiana gains manufacturing jobs for second straight year”. In fact, according to Manufacturer’s News, Indiana gained more than 8000 jobs, especially in the transportation industry.
This is very good news for folks filing personal bankruptcy in Indiana. Those who filed bankruptcy Chapter 7 need income to pay bills and start a savings “cushion”. Those who file using Chapter 13 bankruptcy law need income to keep up with their three to five year debt repayment plans. All of them need jobs.
Inside Indiana Business has good news about jobs as well, noting that Vera Bradley announced plans to expand in Ft. Wayne, adding 128 jobs over the next few years. Also in Fort Wayne, Burlington announced plans to open a second location, bringing 50-60 new jobs. Little Raymond’s Print Shop, Inc. in Lawrence plans to bring more than 100 new jobs to the area. Meanwhile, Toyota plans to increase production of its mid-sized SUV and create 200 new jobs.
On an even larger scale, one of my Indianapolis bankruptcy lawyer colleagues learned, Amazon.com Inc. is looking to fill 7,000 jobs in 13 states. Approximately 200 of those jobs will be available here in the Tri-State area, so Indiana stands to benefit.
Precisely because so many new jobs seems to be opening up here, I want to remind my Bankruptcy in Indiana readers about the egg-or-chicken decision I was talking about last week. People who have been putting off even thinking about filing individual bankruptcy in Indiana in hopes of finding a job that will allow them to get back on track financially. Unfortunately, even if debtors have kept the wolves at bay so far, their debt problem may be too severe to fix by the time they restart work. Once they have income coming in from the new job, they may not qualify under the means test to have their debts discharged through bankruptcy.
Indiana jobs may be on the upswing, but that may actually mean the bankruptcy safety net can take an even more important role in getting people back and “walking on their financial feet”!
Categorised in: Bankruptcy Indiana
This post was written by Mark Zuckerberg