Which Comes First – Finding or Filing? Indiana Lawyer for Bankruptcy Offers the Facts

September 9, 2012 2:46 pm Published by

If there’s one topic I need to stay on top of as a debt consolidation lawyer offering Indiana bankruptcy help, it’s the job market in Indiana.  It’s been tight, to put it mildly. And that “tight job market can be especially hard on job seekers with 15 or more years of work experience,” explains foxsboroughpatch.com.. "When employers review a resume, they first tend to weigh the level of education and a candidate's past experience against the job opportunity. If the candidate possesses qualifications that are higher than the position requires, a manager may set the resume aside."

In fact, it’s many of those “over-qualified”, under-funded Indiana folks who are showing up at all five Zuckerberg bankruptcy law offices. These tend to be well-trained, well-educated workers who have always been responsible managers of their finances, and who, because of a lay-off, are suffering with obligations on which they can’t keep up the payments.  In many cases, as one of my Columbus bankruptcy lawyer colleagues points out, clients will have been putting off filing personal bankruptcy in Indiana, thinking they ought to find a job first.  That way, they had reasoned, they would be able to file under Chapter 13 bankruptcy law.

On the other hand, these same “over-qualified” individuals have been reluctant to take jobs, even when offered, that pay only a fraction of what they were used to earning.  In the meanwhile, the credit card debt (as I well recognize after more than 25 years of practicing Indiana bankruptcy law) has been piling up, in some cases with lowered borrowing power. The very same “overqualified” client is the type most likely to need student loan debt help, and in some cases, help to stop foreclosure.

The big question that arises is what to do first – If John wants to file Chapter 13 bankruptcy in Indiana, he must show that he has regular income from a job. Yet, if he earns “too much” income, he may not qualify to file individual Indiana bankruptcy at all! It could be that John’s best course of action is filing bankruptcy Chapter 7 before he lands the job. Each individual situation is different, and it’s the task of a lawyer for bankruptcy to sort out all the information and lay out the options that could make sense in each case.

I’ve been reading some positive news about employment in our state:


What to do first, then?  File bankruptcy or get a job?  It depends. As a longtime lawyer for bankruptcy in Indiana, I think the only answer to the question of what to do first is “Get experienced legal help.” 



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This post was written by Mark Zuckerberg

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