Bankruptcy in Louisiana is a useful tool to remove some unsecured debts. Medical debt, divorce and unexpected expenses are the top reasons people file for bankruptcy. However, some myths still circulate make that may make consumers hesitate to file. Consumers have to...
The truth about bankruptcy
Filing for bankruptcy may allow you to eliminate credit card, medical and other types of debts. However, it's not uncommon for Louisiana residents to refrain from seeking this type of debt relief because of the stigma associated with doing so. Filing for bankruptcy...
How Chapter 7 and Chapter 13 bankruptcy differ
If a consumer feels that they can no longer manage debts, they may file bankruptcy. Bankruptcy is a legal process that can help individuals with certain debts, but there are several kinds of bankruptcy. The two main types that consumers file in Louisiana are Chapter 7...
The difference between bankruptcy and insolvency
Insolvency and bankruptcy in Shreveport, Louisiana, are financial terms often used to mean the same thing. While insolvency may lead to bankruptcy, they are two different legal concepts. Insolvency overview Insolvency is the condition of not being able to pay debts to...
Pros and cons of bankruptcy in Louisiana
Consumers in Shreveport, Louisiana, may be able to file for bankruptcy when they feel overwhelmed with debt. The top reasons for bankruptcy are medical debt, divorce and job loss. It's important to understand the pros and cons before filing, which will depend on the...
File for bankruptcy before raiding your retirement
Bankruptcy is the process of allowing the federal courts to assist you with paying off your debts. Many people see bankruptcy as a last resort and something that is shameful. However, it can be a very smart option for many people, including those who are thinking...
Tax returns for Chapter 13 bankruptcy
Chapter 13 bankruptcy may be a gamechanger if you are in debt. This way, you can pay back your creditors in installments over several years without having to worry about interest accruing. However, Chapter 13 bankruptcy can only help you if you follow the right steps,...
What is the automatic stay in bankruptcy?
Bankruptcy helps consumers in Louisiana get some of their unsecured debts forgiven through liquidation or repayment. If consumers get behind on debt, they could get calls from collectors. However, the automatic stay of bankruptcy is beneficial in this situation....
What should you know about bankruptcy?
If you're struggling with debt, there are many tactics to regain control of your finances. One such option may be to present a bankruptcy petition to a Louisiana judge. In most cases, you will seek protection under Chapter 7 or Chapter 13 of the bankruptcy code. Take...
What really happens when you file for bankruptcy?
The thought of filing for bankruptcy may fill you with a sense of dread. This is because you may believe that doing so could result in the loss of your Louisiana home, a car or other assets. However, the truth is that you may be able to discharge your debts without...
