Wisdom From “Bankruptcy in Indiana” Christmases Past – Part One

December 23, 2012 10:48 pm Published by

‘Tis the season, and for me, as a longtime debt consolidation lawyer, it’s a time for both looking back and for looking ahead.

Back five years ago, when I’d just begun this article series, I felt the most important message I needed to convey to Bankruptcy in Indiana readers was “Don’t do debt alone.” 

One of the Columbus bankruptcy lawyers who works in the Zuckerberg bankruptcy law offices had read a study showing that, rather than turning to friends or family to lend support when they were going through financial difficulties, they tended to keep their troubles to themselves, particularly around the holiday season.  The worst part was that, as the study demonstrated, the stress and sense of isolation tended to have negative health effects. My colleagues and I all felt that, in addition to legal advice, we wanted to offer support and comfort to those being harassed by creditors, describing the relief and hope that awaited them once they had gone through the process of filing personal bankruptcy in Indiana.

Then, during the winter holiday season in 2008, right in the thick of the recession and all the job layoffs, I felt it important to report to Bankruptcy in Indiana readers on the job markets in our state. I explained the importance of steady income.  Those who had filed bankruptcy Chapter 7 needed to get their budgets in order and begin a regular pattern of keeping up with expenses, while those who’d filed under Chapter 13 bankruptcy law needed to keep up with their debt repayment plans. I used the article to reassure job seekers that some companies, specifically three big retailers, were opening new stores and expanding their work forces. I wanted to bring a message of hope for post-bankruptcy rebuilding.

Both these messages from past years hold very true today:

 In this 2012 holiday season, I want to urge people that they don’t need to “do debt alone”.  In fact, they will have plenty of company, and, at least in any of the five Zuckerberg bankruptcy law offices, plenty of support.  After more than 26 years, we know: Most people who file bankruptcy, (despite the myth that only “deadbeats” file) are honest and hard-working people who file bankruptcy in Indiana only as a last resort.  

And, even more so than in 2008, the job markets are beginning to show signs of improvement.

It may not feel like the merriest of seasons, but next month, things could be better:

Next month,

….you could have a lot less debt;
….you could be done with minimum payments;
….you could be paying out hundreds less in monthly payments;
….you could be sleeping worry free;
….your creditors could be calling somebody else;

Wouldn't that be nice? That’s what I wish for you…
 

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This post was written by Mark Zuckerberg

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