When people in Louisiana and around the country file personal bankruptcies, the judge handling the case issues what is known as an automatic stay. This is a court order that prohibits creditors from attempting to collect debts from individuals who have filed for...
Getting ready for your Chapter 7 bankruptcy
If you are struggling to stay current on credit card, auto loan or other debts, you may want to consider filing for Chapter 7 bankruptcy. To qualify, you will likely need to pass a means test verifying that you have little or no disposable income. There may also be...
Should you file for Chapter 7 or 13 bankruptcy?
Many Louisiana residents have problems with debt, and many cannot foreseeably pay it off. After exhausting other options, bankruptcy might be the way to go. Comparing Chapter 7 and Chapter 13 bankruptcy can help determine which is best for you. Understanding Chapter 7...
Can student loans be discharged by bankruptcy?
Filing for bankruptcy in Louisiana is a big step. Although you must meet certain legal guidelines to qualify for total or partial debt forgiveness, time is of the essence if you want to stave off more costly, long-term legal issues like foreclosure, wage garnishment,...
Is there a way to keep credit cards when declaring bankruptcy?
With so many struggling to make ends meet, it's no wonder that bankruptcies are on the rise. But what happens to your credit cards when you declare bankruptcy in Shreveport, Louisiana? Can you keep any of your credit cards? When you file for bankruptcy, you must...
Why would a bankruptcy discharge be denied?
Those filing for bankruptcy typically seek a discharge from the court. With a discharge order, the debtor no longer has obligations for certain debts. However, there might be instances where the court denies the discharge. Refusals to discharge a bankruptcy There must...
Facts about the bankruptcy certificate in Louisiana
Filing for bankruptcy can be a great way to get a fresh start on your finances. However, the bankruptcy process can be complicated and confusing. One important document that you will need to obtain during the bankruptcy process is a bankruptcy certificate. What is a...
Can you afford bankruptcy in Louisiana?
One of the main reasons why people avoid filing for bankruptcy is they worry about how much it will cost. It might not cost as much as you fear, and there are some options for gathering the money to file or waiving the fees. Bankruptcy filing fee Filing for a Chapter...
What assets are exempt in a Chapter 7 bankruptcy filing?
Filing for bankruptcy is often viewed as a scary and negative situation There’s a common misconception that you’ll lose all your Louisiana property if you file. However, certain assets are exempt in a Chapter 7 bankruptcy filing. Your home States sometimes have...
Are you eligible for the new Chapter 7 trustee payment?
An extra $60 will now be processed by bankruptcy courts for every case payment for some Chapter 7 trustees in Louisiana from the fiscal year 2021. Not all chapter 7 bankruptcy trustees are eligible though. Does this apply to me? The cases that this change applies to...
