Being heavily in debt in Louisiana can be overwhelming. It may seem like you have nowhere to turn but bankruptcy. While there’s a stigma associated with filing for bankruptcy, you should disregard it and know that there are many good things that can come out of it....
Federal and state bankruptcy exemptions you may be entitled to
Deciding to file for bankruptcy in Louisiana is never an easy choice. Doing so may be your last resort after exhausting all other possible options to pay back your debts. When you file for bankruptcy, you are allowed to keep certain property known as exemptions. You...
Bankruptcy and disposable income
Bankruptcy provides debtors in Shreveport, Louisiana, a legal process to remove some unsecured debt they struggle to pay. Two common types of bankruptcy are Chapter 7 and Chapter 13, and most debtors choose Chapter 7. However, each debtor needs to meet the...
When the eviction moratorium ends, will you have enough to pay?
The stay of eviction put in place by the government is expiring. This gives your landlord back the right to evict anyone who owes rent. Is there anything you can do to prevent an eviction? Did the moratorium cancel rent? Discover what you may expect as the relief from...
Is it too late to save the roof over your head?
Owning a home is a major part of living the American dream. Unfortunately, for many Americans, foreclosure is an imminent threat. In fact, because they are behind on mortgage or rent payments, as many as 35% of Americans may lose their homes in the coming months....
What are the common misconceptions about bankruptcy?
If you have more debt than you can pay off, bankruptcy may be a viable solution to financial turmoil. Personal bankruptcy may allow you to discharge your debts or at least create a payment plan to repay. According to U.S. News, there are a lot of misconceptions...
Significant life events can lead to bankruptcy
Historically, bankruptcy was considered a failure of planning or the result of an individual’s excessive spending due to lack of financial control. Fortunately, the mindset has steadily changed to embrace the true purpose of Chapter 7 and Chapter 13 bankruptcy – to...
Can you keep your car during bankruptcy?
Filing for bankruptcy allows you the opportunity to reset your finances and start over. Getting rid of a majority of your debt may give you the resources and mental clarity to implement a new financial plan. As you prepare to file for bankruptcy, you may feel...
How the bankruptcy means test determines Chapter 7 eligibility
Most people who file for bankruptcy in Louisiana do so through either a Chapter 7 or a Chapter 13 format. There are some important differences between the two types of filings, including how long they take, how they work and how you qualify for them. If you wish to...
What to do when you miss several car payments
If you are behind on several car payments, you may fear repossession. Perhaps you wonder what to do next. There are a few options available. One is to contact your lender and request leniency. Another is to try selling your vehicle to pay off the loans or trading it...
