Following the lean years we’ve all gone through, there’s hardly anything more encouraging to us Indiana bankruptcy attorneys than news about job opportunities on the rise. With five Zuckerberg bankruptcy law offices around central and southern Indiana, it felt wonderful to find no fewer than five good-news articles about jobs, and that’s just in the past two weeks!
1. When I read about Walmart’s plan to hire 100,000 vets over the next five years, I was especially gratified. Every debt consolidation lawyer knows that the unemployment rate is particularly high among veterans. Now, as I’ve explained to Bankruptcy in Indiana readers, the Servicemembers Civil Relief Act protects service members against creditors, preventing their wages from being garnished and preventing eviction. Then, under Indiana bankruptcy law, there are special allowances for veterans, allowing them to have more income and still file bankruptcy Chapter 7.
With all of that said, it’s still crucial to get veterans back in the workforce, earning income.
2. Reading about Berry Plastics’ plan to add 115 jobs this year made me think of all the fathers who’ve been laid off, forced after a divorce to file individual bankruptcy in Indiana because they could not keep up with their child support obligations and COBRA insurance premiums and still pay their creditors. (While debts that definitely cannot be discharged through filing personal bankruptcy include alimony and child support, filing bankruptcy after a divorce , particularly when a layoff is also involved, can be the only way to get other debts discharged, freeing up enough cash to pay those obligations.)
3. My Indianapolis bankruptcy lawyer colleagues were happy to learn that the Suburu plant in Lafayette is planning a big expansion. (Many Indianapolis and Anderson residents who are looking for work would be happy to make the commute, because they desperately need regular income in order to keep up with their Chapter 13 bankruptcy debt repayment plans.
4. Apparel and home décor retailer Gordman’s will be opening a distribution center in Hendricks County and creating as many as 250 new jobs. As a longtime lawyer for bankruptcy in Indiana, that is music to the ears. I'm always struck by the fact that while the new bankrukptcy laws of Indiana are meant to offer debtors a fresh financial start, that fresh start can't happen without the availability of well-paid jobs.
As my Richmond bankruptcy lawyer colleague always stresses, income from jobs is important not only to avoid bankruptcy – it’s actually crucial when it comes to “completing” a bankruptcy.. There are still hundreds and thousands of people trying to get back on their financial feel following a bankruptcy. Regular income is essential for keeping the bills paid, avoiding debt, and building up an emergency fund.
Remember that old commercial: “How do you spell relief?” From the vantage point of a bankruptcy attorney in Indiana, I think the answer is J-O-B-S!
Categorised in: Bankruptcy Indiana
This post was written by Mark Zuckerberg