Living in Greenwood, Indiana
Sitting just to the south of Indianapolis, the city of Greenwood first saw settlers as early as 1823 with a single cabin. The city today boasts a population of over 60,000 people, having grown over 22% in the last decade (though only 1.7% between 2019 and 2020).
The 14th largest city in the state of Indiana, 57.8% of Greenwood residents are homeowners with 42.2% renting. The majority of homeowners are married, and only 23.3% of married couples rent.
The median household income is $75,751 with a poverty rate of 9.85%. Greenwood has an unemployment rate of 4.2%
Bankruptcy in America
A recent study found that medical issues have contributed significantly to two-thirds of individuals filing for bankruptcy in the United States. While America’s high healthcare costs have long given rise to financial troubles, recent uncertainty with the state of health insurance as well as the unprecedented COVID-19 pandemic only have made the situation more dire for many Americans.
Beyond healthcare costs, loss of income, expensive mortgages, foreclosure, student loans, divorce, and other factors such as living above one’s means or experiencing a birth or death in the family have contributed to the need for many Americans to turn to bankruptcy.
Recent data shows that personal bankruptcies peaked during the Great Recession in 2005, with over 2 million people filing for bankruptcy. Also in 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) took effect and limited the number of individuals who could qualify for Chapter 7 bankruptcy; despite this, Chapter 7 remains the most common filing.
To file for bankruptcy in Indiana, whether Chapter 7 or Chapter 13, you must provide detailed information about your financial situation, including property, income, expenses, bills and any additional transactions.
Overwhelmed? A qualified Indiana bankruptcy attorney can help you navigate the required forms and paperwork, ensuring a proper and successful filing process.
You’re Not Alone: Bankruptcy Statistics
National Numbers
Take a look at the number of bankruptcy filings for the past four years nationwide, and know that you are not alone in needing financial help.
Chapter 7 Filings
2019: 477,417
2018: 480,933
2017: 488,417
2016: 523,394
Chapter 13 Filings
2019: 288,039
2018: 290,566
2017: 298,348
2016: 302,193
Indiana’s Numbers
The Southern District of Indiana saw the following filings over the last five years:
Chapter 7 Filings
2019: 6,632
2018: 6,853
2017: 6,947
2016: 7,168
2015: 7,885
Chapter 13 Filings
2019: 3,105
2018: 3,030
2017: 2,857
2016: 3,015
2015: 3,043
Of these filings, the following occurred in Johnson County:
Chapter 7 Filings
2019: 396
2018: 420
2017: 394
2016: 413
2015: 442
Chapter 13 Filings
2019: 228
2018: 221
2017: 200
2016: 203
2015: 219
The Southern District of Indiana has three federal courts for filing bankruptcy. The court serving Greenwood and Johnson County is the Birch Bayh Federal Building and United States Courthouse.
Birch Bayh Federal Building and United States Courthouse
116 U.S. Courthouse
46 East Ohio Street
Indianapolis, IN 46204
https://www.insb.uscourts.gov/
This court serves the following counties in addition to Johnson:
Bartholomew, Boone, Brown, Clinton, Decatur, Delaware, Fayette, Fountain, Franklin, Hamilton, Hancock, Hendricks, Henry, Howard, Madison, Marion, Monroe, Montgomery, Morgan, Randolph, Rush, Shelby, Tipton, Union and Wayne.
Sawin & Shea—Greenwood, Indiana, Bankruptcy Attorneys
Filing for bankruptcy is not the end. It’s the beginning of a new financial life for you.
The Greenwood 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.
