As a resident of Louisiana who is seeking debt relief through bankruptcy, there are several options available to you. Today, we at Simon, Fitzgerald, Cooke, Reed and Welch, will highlight the benefits specific to Chapter 7 bankruptcy.

Chapter 7 is often a good choice if you are seeking a “fresh start” or a clean financial slate, as it allows you to wipe away your dischargeable debts. Though not all debts are dischargeable, many types are. This includes credit card debt, which is currently among the most prevalent.

If you are being harassed by creditors, Chapter 7 can help you there, too. By law, creditors can no longer contact you after you have filed for bankruptcy. This means any form of harassment will stop, whether it is in person, on the phone, through spam mail or by regular mail.

In addition, Chapter 7 does not require you to make a repayment plan like Chapter 13 does. This makes it ideal if you are in a situation where you cannot pay back your debts even on a changed schedule. For example, if you have recently lost your source of income, it can be impossible to pay back the debts you owe. The larger your debt is, the harder it would be to pay off, even if you readjusted your payment plan.

If you are considering filing for bankruptcy for debt relief, consider taking a look at our web page on Chapter 7 bankruptcy first. You can learn more about the accessibility of Chapter 7 bankruptcy, how it works, and whether or not it will be the best option for your unique financial situation.