Living in French Lick
French Lick is a small town in Orange County, Indiana with a population of just under 2,000 people. While it was originally a French trading post built near a spring and salt lick, the town was officially founded in 1857.
French Lick gained a reputation for being a spa town over the following decades due to its close proximity to natural sulfur springs, which began to be exploited for medical purposes as early as 1840. In the early half of the 20th century, the town had built several casinos which attracted celebrities such as Al Capone and Irving Berlin.
The unemployment rate is just under the national average which is 6%, while the future job growth over the next ten years is predicted to be 23%. The average income in French Lick is $17,129 a year, which is less than the national average.
French Lick is known for several interesting facts such as being the training center for the Chicago Cubs during the Second World War, but perhaps the most well-known fact is that it was the hometown of NBA legend Larry Bird.
About Bankruptcy in French Lick, Indiana
Bankruptcy can happen to anyone regardless of how well they think they have their finances under control. Across the nation, medical debt is cited as the number one reason people file for bankruptcy, but there are many other situations that can lead families to file. Unexpected life events such as job loss or divorce are always possibilities, and emergencies are never predictable, so it’s important to remember that bankruptcy is not the end.
America has created a social stigma surrounding bankruptcy, often leading people to believe that once you file, you will never be able to get back on your feet. The truth is filing for bankruptcy can help you take control of your finances during a time when you are suffocating underneath overwhelming debt. Debt can happen to anyone, so be aware that filing for bankruptcy is a reasonable choice if you are in this financial situation.
The most common type of bankruptcy that residents in the United States choose is Chapter 7 bankruptcy. When you file for bankruptcy under Chapter 7, all of your nonexempt property is liquidated for the benefit of your creditors. Most Chapter 7 filings are what we call “no asset cases” which means that you keep everything you have. The benefit of Chapter 7 bankruptcy is that cases are finalized quickly, usually in a period of 3-6 months. If you need a speedy fresh start, this may be the best option for you.
The other type of bankruptcy you may consider is Chapter 13. This type of filing is a reorganization of debts over a period of 3-5 years. We can use Chapter 13 to help debtors catch up on houses or cars, save assets that might be at risk in a Chapter 7, and help those that are not eligible for a Chapter 7. It is for this reason that Chapter 13 is a popular choice for homeowners and business owners.
Southern District of Indiana Chapter 7 Filing
- 2017: 8,814
- 2018: 8,673
- 2019: 8,518
- 2020: 6,930
- 2021: 5,666
Southern District of Indiana Chapter 13 Filing
- 2017: 4,673
- 2018: 5,064
- 2019: 5,302
- 2020: 3,202
- 2021: 2,854
Orange County Chapter 7 Filing
- 2017: 34
- 2018: 33
- 2019: 23
- 2020: 16
- 2021: 15
Orange County Chapter 13 Filing
- 2017: 47
- 2018: 45
- 2019: 42
- 2020: 38
- 2021: 32
Sawin & Shea – French Lick, Indiana Bankruptcy Attorneys
Filing for bankruptcy is not the end. It’s the beginning of a new financial life for you. The French Lick, Indiana bankruptcy attorneys at Sawin & Shea can help you get rid of the overwhelming debt and advise you on life after bankruptcy. We are here for you during this life-changing process. Please do not hesitate to call us today at 317-759-1483 or send an email for a free consultation. We are ready to help.