Living in Martinsville, Indiana
Martinsville is the county seat of Morgan County, Indiana, and is located along Interstate 69 about 30 miles south of Indianapolis. In its early days, it was the site of some of the largest fisheries in the world and famous mineral water health spas.
Today, Martinsville has a small-city atmosphere with affordable housing and a busy commercial business and shopping district. It has many long-time family restaurants and stores that have been in business for generations. The newly-built Interstate 69, formerly State Road 37, has had an undeniable impact on Martinsville, bringing new construction and change to the city.
Demographically, Martinsville is 97% white, 1.3% Hispanic or Latino, .2% African American, .3% Native American, and .4% Asian. The city’s residents are primarily homeowners who are married couples with or without children. Martinsville’s primary employers are in the fields of construction, manufacturing, insurance, retail, administration, transportation, and education.
About Bankruptcy in Martinsville, Indiana
In the U.S., two-thirds of bankruptcy filers cite medical debt as their primary reason for filing for bankruptcy, and Martinsville is no exception. There are also many other reasons to opt for bankruptcy, including unexpected job loss, divorce, catastrophic property damage, and life emergencies that drain your resources and harm your credit.
Martinsville lost many employers that offered industrial and manufacturing jobs in the past few decades, impacting many families in the area. Today, many people commute to Indianapolis to stay employed, which causes extra commuting and car costs.
If you live in Martinsville and have suffered life circumstances like these, bankruptcy may be a route to re-establishing your credit and erasing a mountain of debt. Chapter 7 bankruptcy is the most popular choice because it quickly liquidates all nonexempt property and is usually finalized within 3 to 6 months.
Chapter 13 is also a common choice because although it takes 3 to 5 years, it often allows people to keep their homes and more of their property while completing a payment plan with creditors. Talk to your bankruptcy attorney to decide which option is best for you.
Nationwide and Local Bankruptcy Statistics
NATIONWIDE
The nation’s total number of bankruptcy filings fell slightly for the 12-month period ending in March 2020. However, the number of filings is anticipated to rise again due to the lasting impact of COVID-19 on the economy, including job loss.
Chapter 7 Filings
2016: 523,394
2017: 488,417
2018: 480,933
2019: 477,417
Chapter 13 Filings
2016: 302,193
2017: 298,348
2018: 290,566
2019: 288,039
FOR INDIANA
The number of Chapter 7 filings in the Southern District of Indiana has dropped somewhat since 2015. However, the number of Chapter 13 filings has risen. This is the same trend we see in the city of Martinsville, with Chapter 7 filings dropping and Chapter 13 filings rising.
Southern District of Indiana
Chapter 7 Filings
2015: 7885
2016: 7168
2017: 6947
2018: 6853
2019: 6632
Chapter 13 Filings
2015: 3043
2016: 3015
2017: 2857
2018: 3030
2019: 3105
Morgan County (Martinsville)
Chapter 7 Filings
- 2015: 240
- 2016: 193
- 2017: 200
- 2018: 197
- 2019: 151
Chapter 13 Filings
- 2015: 95
- 2016: 81
- 2017: 73
- 2018: 87
- 2019: 103
Your Martinsville, Indiana Courthouse Location
Every bankruptcy filer must follow the proper procedure for filing, and they must do it in the right court. For Martinsville Indiana, you should file your paperwork with the United States Bankruptcy Court for Morgan County using the information below.
Birch Bayh Federal Building and the United States Courthouse
116 US Courthouse
46 East Ohio Street
Indianapolis, IN 46204
Counties Served:
Bartholomew, Boone, Brown, Clinton, Decatur, Delaware, Fayette, Fountain, Franklin, Hamilton, Hancock, Hendricks, Henry, Howard, Johnson, Madison, Marion, Monroe, Montgomery, Morgan, Randolph, Rush, Shelby, Tipton, Union, and Wayne.
Sawin & Shea – Martinsville, Indiana Bankruptcy Attorneys
Filing for bankruptcy is not the end. It’s the beginning of a new financial life for you. The Martinsville, 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.
