Shreveport Bankruptcy Law Blog
Understanding the Chapter 7 means test
It is often portrayed that those people in Shreveport who seek personal bankruptcy protection are abusing the privilege simply to get out of having to pay their bills. This leads to a stigma being associated with bankruptcy. Yet in reality, federal bankruptcy laws...
What is the bankruptcy means test?
If you want to file for bankruptcy protection, then you will have to choose which Chapter you will file. Chapter 7 bankruptcy allows you to liquidate your non-exempt assets to repay your debt and then the court dismisses any remaining debt you cannot pay off. Chapter...
Can businesses file Chapter 13?
There is a chance that your company could file for Chapter 13 personal bankruptcy. If you qualify for and adhere to the strict repayment plan associated with this type of debt reorganization, it could represent a way for you to continue doing business, keep your home...
A growing number of Americans are living paycheck-to-paycheck
While the average U.S. household income is about $50,000, it may not stretch far enough in between paychecks. As reported by CNBC, about 32% of working individuals find themselves short of cash before every payday. Researchers found that workers earning less than...
What are the positives of bankruptcy?
Many people across the US file bankruptcy across the country each year, and there is a running theme surrounding the process: shame. There is a prevalent belief in American society that bankruptcy is embarrassing, or even an admission of defeat. The reality is that...
Examining the pre-bankruptcy credit counseling requirement
You know your financial situation better than anyone else in Shreveport; thus, you may wonder why many might question your decision to seek personal bankruptcy protection. While the social stigma regarding bankruptcy has faded somewhat in recent years, the...
The facts about wage garnishments
If you owe a debt that you cannot pay in Louisiana and the creditor takes you to court to get a judgment against you, then the court can order you to pay the debt. If you do not pay it voluntarily, then the creditor may go back to the court and request the right...
How serious is the problem of medical debt?
If you or someone in your family in Louisiana contracts a disease, sustains a serious injury or otherwise becomes very ill, you may struggle with how to pay for the medical treatment necessary. The sheer cost of health care in America often prevents people from...
Are these signs of creditor harassment?
No resident of Louisiana wants to be in debt, but life is sometimes unpredictable. You cannot anticipate every financial issue that may come your way. If life circumstances lead you into debt, this does not make you a bad person. It does not justify the abusive...
Why bankruptcy may be good for your health
Some Louisiana residents with debt problems try to avoid bankruptcy at all costs, fearing that the stigma of going through bankruptcy will brand them a financial failure. However, remaining under the pressure of financial debt without seeking bankruptcy relief can...
