The special financial struggles which many military families experience are making news again. The Indianapolis Star’s front page story “Most Indiana veterans have a long wait” was a sad reminder, but not surprise to me as a debt consolidation lawyer offering Indiana bankruptcy help.
Senator Coats’ remark “America’s veterans deserve better than this” echoes the feelings of every good bankruptcy attorney in Indiana. He’s referring to veterans’ disability claims. Veterans are supposed to wait no more than 125 days for a resolution but two out of three have been waiting longer than that. And in the Indianapolis VA Regional Office, 77 percent of disability compensation claims take more than 125 days to process.
Now, the new bankruptcy laws of Indiana follow federal guidelines in offering special protection for members of the military who are in debt. One kind of help takes the form of a “stay” or postponement of any legal action or credit collection effort for all the time the debtor is in the service and even for another 90 days following discharge from the military. Under our last Indiana governor, a military relief extension was put into place, extending the time military families can receive aid from one year to three.
But, as all of the good bankruptcy attorneys of Indiana who work in the Zuckerberg bankruptcy law offices know, timing is everything when you’re in trouble financially, and a much greater percentage of military families (as compared with the civilian population) are in debt. Even with all the time extension, it’s so sad to see service members showing up at our offices needing payday loan debt help and help to stop foreclosure.. Veterans who are single mothers seem to have an especially difficult struggle.
The challenges facing veterans when it comes to finding jobs – now, that’s another story, as every bankruptcy attorney in Indiana well knows. And when a disability is added to the problem of a tough job market, that makes things especially challenging. Regular income from a job is needed in order to file bankruptcy under Chapter 13 bankruptcy law, but, even bankruptcy Chapter 7 can succeed only if money is coming in to keep current bills paid.
I’m always glad to see the press keeping veterans’ issues in the forefront, but our service people deserve better than they’re getting. At the Zuckerberg bankruptcy law offices, we’re doing our best to help.
Categorised in: Bankruptcy Indiana
This post was written by Mark Zuckerberg