Many Louisiana residents are currently facing serious financial problems. In fact, some are even in danger of losing their homes. Such circumstances are certainly not unique to this state, as thousands of other people throughout the nation report similar financial struggles. When it comes to debt relief, Chapter 7 bankruptcy may be the most viable option in some situations.
Common contributing factors to bankruptcy
Bankruptcy affects people in Louisiana and the rest of the country. Here are some of the common contributing factors that precipitate a bankruptcy and some of the steps people can take to avoid one.
How can I manage credit card debt?
If you are struggling with credit card debt in Louisiana, you know that keeping your finances in order can be quite difficult. There are methods you can utilize to successfully manage credit card debt however, which will help you improve your financial status while also cutting back on harmful debt that can imperil your future.
Former attorney seeks bankruptcy for second time in as many years
Many in Louisiana may think that people with a lot of money are immune to debt struggles. Yet with large amounts of money also often comes significant spending along with the potential of those assets being mismanaged. Another financial responsibility that those termed as being rich may have is a heavy tax liability. All of these factors add up to the possibility of even wealthy people having to face the prospect of bankruptcy.
