“There’s very simply very little about bankruptcy that isn’t related to income from jobs,” I repeated just a couple of weeks ago in one of these Bankruptcy in Indiana articles.
The connection is very simple and very important for those 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. Regular jobs translate into regular income flow.
Over the past two or three weeks, news about jobs in Indiana has centered on the auto industry and on the health care field. The Indianapolis Star’s “Autos” section, one of our Columbus bankruptcy lawyers notes, has no fewer than four good-news items:
1. Toyota: The company is investing $30 million and creating 200 jobs in Princeton, Indiana.
2. Subaru: The company will be investing $400 million and adding 900 jobs starting in 2016 in Lafayette, Indiana.
3. Chrysler: In Kokomo and Tipton, more than 1,250 new jobs will be created over the next couple of years.
4. GM: $275 million and 150 new jobs will help the Ft. Wayne plant “go green”.
“Indiana’s economy is expected to improve gradually, as the automotive manufacturing industry, which is central to the Indiana job market, regenerates and expands,” I was happy to read on Monster.com.
Meanwhile, especially since the main hub of the Zuckerberg bankruptcy law offices is in Indianapolis, we were delighted to learn that American Specialty Health is bringing 675 jobs to Carmel, half of them in the very next calendar year.
I’ve been practicing Indiana bankruptcy law for almost twenty seven years now, through many ups and downs in the economy. I was reminiscing the other day with my Anderson and Bloomington bankruptcy lawyer colleagues, and we concluded that in good times and bad, income from jobs is important. It’s not only that jobs help avoid bankruptcy – jobs are actually crucial when it comes to “completing” a bankruptcy. You might even say that for us debt consolidation lawyers, jobs are a big part of what we’re about.
Categorised in: Bankruptcy Indiana
This post was written by Mark Zuckerberg