Indiana Bankruptcy Blog-Making the Decision to File Bankruptcy is the Hardest Part

            Yesterday gas prices rose about $.35 a gallon in the Indianapolis, Indiana area, with predictions of at least $4.00 per gallon gas this summer.  While most people find this jump annoying, for some it is the difference between being able to pay the bills and falling short at the end of the month.  As a bankruptcy attorney in Carmel, Indiana, I talk to people in this situation often.  These are people who have been grinding it out each month, working hard and something as minor as a gas spike starts the chain reaction that brings them to my office.

           Although I titled Indiana Bankruptcy Blog posting, "Making the Decision to file Bankruptcy is the Hardest Part," perhaps a more proper title would have been "Calling a Bankruptcy Attorney for an Appointment is the Hardest Part."  I often meet with people who have put off calling a bankruptcy attorney until their paycheck is garnished and they are a few months behind on their house payment.  Understandably, most people will do about anything to avoid filing bankruptcy.  People want to pay back money they have borrowed or pay for services they have used and the filing of a bankruptcy petition is not something that should be done without careful consideration.  In my opinion, the filing of a bankruptcy petition should also not be done without the advice of a bankruptcy attorney, (although there is certainly no requirement that an individual have an attorney to file a bankruptcy petition) but I will leave that subject for another day.

        The bottom line is that people are afraid of bankruptcy for a number of reasons.  I believe first and foremost they are afraid of the unknown.  Certainly, many people believe that if you file for bankruptcy someone from the bankruptcy court comes and takes all of your stuff and hauls it away.  People are also embarrassed and afraid of the social stigma that they believe is attached to bankruptcy.  While I completely understand these feelings, we are blessed to live in a country where there is no debtor's prison and the bankruptcy code exists for those people who need to hit the reset button financially.  While I will make no claim that the decision to file a bankruptcy is an easy one in most cases, I will say that in my experience there is a sense of relief for my clients after they have made the decision because at least now they have a plan of how to deal with the debt and how to get their finances back on track.

         And for those in the Indianapolis area, I think it is worth mentioning that Forum Credit Union is offering a low-cost Dave Ramsey Financial Peace University course.  Whether or not you decide that you need to file bankruptcy, this course could help you avoid bankruptcy or make sure that you never find yourself in the position to need to file bankruptcy again.  I myself have been through this course, and found it very helpful.  I should also add that I believe it is not only helpful for those attempting to manage debt, but also for those who are in an excellent financial situation.

         As always, if there is a topic you would like to see discussed on the Indiana Bankruptcy Blog or are seeking a bankruptcy attorney in the Indianapolis area, Anderson, Kokomo, Tipton, Lebanon, Fishers, Noblesville or Carmel, Indiana, please feel free to contact me.

Halcomb Singler, LLP, is a debt relief agency.  It helps people file for bankruptcy under the bankruptcy code.  No attorney-client relationship with the firm of Halcomb Singler, LLP, is created through this blog. Also, please note that Erika Singler is an attorney licensed in Indiana and does not seek to practice law in any jurisdiction in which they are not properly authorized to do so.  The information contained in this blog is general in nature and should not be relied upon for the circumstances of any individual(s) or businesses.