Wednesday, December 17, 2008

Indiana Bankruptcies Up

Is news of more bankruptcy filings in Indiana any real surprise? Bankruptcy filings up in Indiana comes from The Indiana Lawyer:

"Bankruptcy cases in federal courts have increased more than 30 percent in the fiscal year ending in September as compared to the 2007 fiscal year. In Indiana, bankruptcy cases have increased more than 25 percent in the U.S. District Court's Northern and Southern districts."
I no longer represent debtors in bankruptcy court and my wife is wondering whether that is a good idea. I do not because of the burdens imposed by BAPCA (the bankruptcy law since 2005). That bankruptcies continue to rise in Indiana shows just how badly off is Indiana. See, the new bankruptcy law was to curtail Chapter 7 filings. Doug Masson has a fuller discussion of why they are increasing here.

I do want to mention that creditors need to get counsel that has both bankruptcy court and collection experience. I have that kind of experience but I limit my work to the Southern District of Indiana.