Chapter 13 bankruptcy provides a way for individuals to deal with their financial troubles. Often, people who file for Chapter 13 do not pass the means test for Chapter 7 liquidation bankruptcy. However, it might be possible for a Louisiana debtor to convert Chapter...
Filing for bankruptcy when unemployed
Bankruptcy is a financial tool that provides relief for people who need to get rid of debt but may not have adequate income to do so. Both individuals and married couples can file for Chapter 7 or Chapter 13 bankruptcy. You can also file if you are currently...
What can you do when a lender repossesses your vehicle?
Financial difficulties may mean dealing with collectors. When your vehicle is on the verge of repossession, you may believe you have few options. Chapter 13 bankruptcy is one way people in a financial crisis may find a way out. This particular type of personal...
What type of bankruptcy should you choose?
There are many reasons someone might choose to file for bankruptcy. Divorce, job loss, medical bills and student loans are a few. Bankruptcy is for people who have no reasonable hope of ever paying back all of their debt. If bill collectors are calling and you are...
What can you keep when you file for bankruptcy in Louisiana?
Bankruptcy laws differ from state to state, but there are still federal protections in place. In general, you can keep your basic living essentials, new belongings, your house, and one car when you file for bankruptcy in Louisiana. Belongings after the bankruptcy You...
How often can you file for bankruptcy?
Filing for bankruptcy in Louisiana is a route you should only take once you have tried other ways to eliminate your debt. If you are unsuccessful, bankruptcy may be your only option. Depending on your circumstances, you may want to know what the rules are for filing...
Ignored collection notices could result in serious legal issues
A debtor may feel that disregarding collection letters appears less intimidating than contacting creditors to arrange payment plans. Ignoring notices from debt collectors, however, may only last a short time before a creditor takes legal action. As noted by Chron.com,...
Do not ignore foreclosure notices
Facing foreclosure may mean you need to consider alternate ways to rid yourself of debt. Simply ignoring the notices and phone calls does not make them go away. If you have a family, you may not want to leave the family home. How can you get yourself out of financial...
Why you should disregard the stigma of filing for bankruptcy
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...
