Living in Evansville, Indiana

Evansville is the third-most populated city in Indiana and the largest in Southern Indiana with 117,298 people as of 2020. It functions as the central hub for southwest Indiana, and it’s the county seat of Vanderburgh County. The bustling city is known for its many tourist attractions as well as valuable amenities for residents, such as the Bally’s Evansville casino, the historic Mesker Park Zoo and Botanic Garden, and the annual West Side Nut Club Fall Festival.

The city also features award-winning educational institutions, including the Signature School, the University of Evansville, the University of South Indiana, and the Indiana University School of Medicine.

In addition to great schools and attractions, the city offers a strong economy and features many different expanding industries including manufacturing, healthcare, finance, and education. It’s also the home of numerous corporate headquarters including Shoe Carnival, T.J. Maxx, Atlas Van Lines, Accuride, Berry Global, Old National Bank, and many more.

As of 2019, the median property value in the city was $94,200 and 55% of residents owned homes. The city has a 5.5% unemployment rate, and the median income is $24,291 for individuals and $40,178 for households.

About Bankruptcy in Evansville, Indiana

Although Evansville is a great place to live and is a major economic center, many people struggle financially. The city’s unemployment rate is below the national average, but the poverty rate is 21% while the national rate is 13.4%.

Many different unfortunate circumstances can lead to a person accumulating a staggering amount of debt. In fact, the average U.S. citizen owes $90,460, which can include credit card debts, medical debts, student debts, loans, mortgages, and more.

The most common reason why people file for bankruptcy in the United States is because of medical debts. One out of three Americans currently has medical debt and half of those with medical debt carry a balance of over $1,000.

Those living in Evansville also struggle with other forms of debt including credit card debt, loans, car payments, mortgages, and more. If you’re struggling with an overwhelming amount of debt, you may need to file for bankruptcy. Although bankruptcy is often stigmatized, it’s frequently the best option for becoming debt-free.

Chapter 7 bankruptcy is the most common way people file in the United States, and it’s the fastest bankruptcy process. People filing Chapter 7 liquidate nonexempt property and assets to pay off creditors, and the process typically takes only three to six months.

Chapter 13, on the other hand, takes much longer than Chapter 7, but it often enables filers to maintain a better standing with creditors and retain more personal property. Those who own a home or business often prefer opting for Chapter 13.

Nationwide and Local Bankruptcy Statistics

Nationwide

The number of new bankruptcy filings has decreased over the course of the last five years, but lingering effects of COVID-19 as well as the high rate of inflation will likely have long-term consequences for the U.S. economy that could increase bankruptcy filings for individuals and businesses.

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 rate of new bankruptcies in the Southern District of Indiana has also decreased in recent years.

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

Vanderburgh County, including Evansville, Darmstadt, Melody Hill, and Highland

Chapter 7 Filings

• 2017: 385
• 2018: 395
• 2019: 511
• 2020: 483
• 2021: 366

Chapter 13 Filings

• 2017: 255
• 2018: 316
• 2019: 341
• 2020: 195
• 2021: 177

Your Evansville, Indiana Bankruptcy Courthouse Location

If you’re filing for bankruptcy as an Evansville resident, you’re required to file through the United States Bankruptcy Court in the Southern District of Indiana. Use the following information.

Street address:

Winfield K. Denton Federal Building & United States Courthouse
101 Northwest Martin Luther King Jr. Boulevard
Evansville, IN 47708

Mailing address:

United States Bankruptcy Court
352 Federal Building
101 Northwest Martin Luther King Jr. Boulevard
Evansville, IN 47708

Counties served:

Daviess, Dubois, Gibson, Martin, Perry, Pike, Posey, Spencer, Vanderburgh, and Warrick.

Sawin & Shea – Evansville, Indiana Bankruptcy Attorneys

There’s no shame in filing for bankruptcy to get your finances back on track. The Evansville, Indiana bankruptcy attorneys at Sawin & Shea can assist you in improving your financial situation as you file and recover from exorbitant debt. We have years of experience assisting Evansville residents with their finances and bankruptcy filing, and we’re ready to guide you through the entire process. Call us today at 317-759-1483, or you can click here to schedule a free consultation.