Living in Richmond, Indiana
Richmond, Indiana sits in the eastern part of Wayne County and borders the state of Ohio. According to the 2010 census, it has a population of 36,812 people and is included in the Dayton, Ohio metropolitan area.
The city is sometimes referred to as “the cradle of jazz” because some of the earliest known recordings of jazz music were done at the local Gennett Records. Gennett Records had a vital hand in the early recordings of influential musicians such as Louis Armstrong, Bix Beiderbecke, Jelly Roll Morton, and Hoagy Carmichael.
In 1806 the first European Americans, a quaker family, moved to Richmond along the eastern side of the Whitewater River. It was part of the National Road, the first road built by the federal government, and was heavily used by pioneers in the 19th century.
The unemployment rate in Richmond is just under the national average, coming in at 5.5%. The average income of a Richmond resident is $18,481 a year while the national average is around $28,000. However, the average household income in Richmond is $29,802 per year, which is almost half of the national average.
About Bankruptcy in Richmond, Indiana
Contrary to popular belief, bankruptcy can impact even the most financially secure individuals. 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 can always happen, and emergencies are never predictable, so it’s important to remember that bankruptcy is not the end, and to call a Richmond bankruptcy attorney as soon as possible.
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, your nonexempt property is liquidated in exchange for a discharge on most types of debt. Most Chapter 7 cases are what we call “no-asset” cases. That means that most people keep everything that they have through the process. Chapter 7 cases are generally 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. Our team of experienced Richmond bankruptcy attorneys can help you decide if Chapter 7 is right for you.
The other type of bankruptcy you may consider is Chapter 13. This type of filing is a reorganization plan under the Court’s protection over 3-5 years. Chapter 13 can help you if you are not eligible for a Chapter 7 for some reason. Further, a Chapter 13 can help you catch up on and keep things like houses or cars if you have fallen behind on payments. It can help you keep your home and other valuable belongings if they would be at risk for liquidation in a Chapter 7. It is for this reason that Chapter 13 bankruptcy is a popular choice for homeowners and business owners, but it’s important to consultant with a Richmond bankruptcy attorney first.
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
Wayne County Chapter 7 Filing
- 2017: 207
- 2018: 197
- 2019: 208
- 2020: 160
- 2021: 160
Wayne County Chapter 13 Filing
- 2017: 18
- 2018: 30
- 2019: 30
- 2020: 25
- 2021: 23
Sawin & Shea – Richmond Bankruptcy Attorneys
Filing for bankruptcy is not the end. It’s the beginning of a new financial life for you. The 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 our Richmond bankruptcy attorneys today at 317-759-1483 or send an email for a free consultation. We are ready to help.