Living in Terre Haute, Indiana
Terre Haute, Indiana is a city located five miles from Illinois, and it serves as the county seat of Vigo County. The city is also known as the Queen City of the Wabash because it’s situated along the Wabash River. As of 2020, the city has a population of 58,389 people and a total of 22,870 households. The median household income in Terre Haute is $28,018 while the median income for families is $37,618.
The city has much to offer residents including museums, great restaurants, festivals, and a bustling art scene. In 2010, the Indiana Chamber of Commerce named Terre Haute as Indiana’s Community of the Year. Notable attractions for art and culture enthusiasts include the Swope Art Museum, the Turman Art Gallery in Indiana State University, the Vigo County Historical Society Museum, and the Indiana Theater. The city also features prestigious higher education institutions including Indiana State University, Rose-Hulman Institute of Technology, and Ivy Tech Community College.
Terre Haute also features an award-winning parks department. The Division of Forestry recognizes the city as a Tree City USA, and the Arbor Day Foundation gave Terre Haute the Growth Award, indicating top-notch urban forestry management.
With excellent culture, natural and urban attractions, and higher education, Terre Haute is a great place to live.
About Bankruptcy in Terre Haute, Indiana
Terre Haute has much to offer its residents, but, sadly, much of the population struggles economically. 26% of the population lives below the poverty line, with 13,620 out of 52,461 reporting incomes below the poverty threshold. There are many reasons why someone may struggle economically, and financial hardship can suddenly fall on anyone because of the tumultuous economy and changing labor markets.
Those who struggle financially may accumulate a great deal of debt. One way people can overcome debt is by filing for Chapter 7 or Chapter 13 bankruptcy. The most common reason why people declare bankruptcy in the United States is medical debt, but a variety of factors and circumstances can lead to someone declaring bankruptcy, including losing a job, property damage, emergencies, and divorce.
Whatever the reason may be for your overwhelming debt — such as missed car payments, credit card debt, medical debt, student loans, or another type of debt — you can seek relief by filing for bankruptcy.
In the United States, people often file under Chapter 7 bankruptcy because it expedites the bankruptcy process. Chapter 7 liquidates your nonexempt assets and property and only takes 3 to 6 months. This is a great option for people needing to overcome their debts as quickly as possible.
Chapter 13 bankruptcy, on the other hand, takes between 3 to 5 years and utilizes a repayment plan. This is an optimal bankruptcy method for those wanting to remain on good terms with their creditors. Additionally, Chapter 13 enables you to retain your Terre Haute home and more of your possessions.
Nationwide and Local Bankruptcy Statistics
In the last year, the number of new Chapter 7 and Chapter 13 bankruptcy filings has decreased. It’s critical to note that the economy and labor market are rapidly shifting with unprecedented challenges, such as the COVID-19 pandemic, and individuals may find themselves needing to file for a variety of reasons.
U.S. Chapter 7 Filings
- 2017: 488,417
- 2018: 480,933
- 2019: 477,417
- 2020: 409,164
- 2021: 310,597
U.S. Chapter 13 Filings
- 2017: 298,348
- 2018: 290,566
- 2019: 288,039
- 2020: 194,384
- 2021: 117,784
Southern District of Indiana
The Southern District of Indiana has also seen a decrease in both Chapter 7 and Chapter 13 filings.
Southern District of Indiana Chapter 7 Filing
- 2017: 8814
- 2018: 8673
- 2019: 8518
- 2020: 6930
- 2021: 5666
Southern District of Indiana Chapter 13 Filing
- 2017: 4673
- 2018: 5064
- 2019: 5302
- 2020: 3202
- 2021: 2854
Vigo County, including Terre Haute, West Terre Haute, North Terre Haute, Seelyville, and Riley
Chapter 7 Filings
- 2017: 157
- 2018: 146
- 2019: 167
- 2020: 125
- 2021: 100
Chapter 13 Filings
- 2017: 119
- 2018: 134
- 2019: 139
- 2020: 59
- 2021: 93
Your Terre Haute, Indiana Bankruptcy Courthouse Location
If you declare bankruptcy in Terre Haute, you need to file through the United States Bankruptcy Court for Terre Haute. If you need to mail documents, do NOT mail them to the Terre Haute Courthouse. Instead, mail it to the Evansville Bankruptcy Courthouse.
United States Courthouse
921 Ohio Street
Terre Haute, IN 47807
United States Bankruptcy Court
352 Federal Building
101 Northwest Martin Luther King Jr. Boulevard
Evansville, IN 47708
Clay, Greene, Knox, Owen, Parke, Putnam, Sullivan, Vermillion, and Vigo
Sawin & Shea — Terre Haute, Indiana Bankruptcy Attorneys
Filing for bankruptcy is a great option for getting your finances back on track. For bankruptcy legal assistance in Terre Haute, Indiana, contact the bankruptcy attorneys at Sawin & Shea. Our seasoned attorneys can help you through the filing process, and we can give you financial guidance after you complete the bankruptcy process. Contact us today at 317-759-1483, or you schedule a FREE consultation here.