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...
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 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...
What to know about the BAPCPA
Bankruptcy in Louisiana is a legal process that can help consumers remove certain unsecured debts. However, in 2005, Congress added more requirements under the Bankruptcy Abuse Prevention and Consumer Protection Act. Overview of the BAPCPA Congress enacted the BAPCPA...
Can you convert from Chapter 13 to Chapter 7 bankruptcy?
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...
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....
