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...
Debts and Chapter 7 discharges
Chapter 7 bankruptcy might be the preferable option for those who pass the requisite means test. Under Chapter 7 rules, particularly unsecured debts may face discharge, indicating the debtor no longer must pay the debts. However, not all debts face dismissal, and some...
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,...
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...
Meeting the requirement for Chapter 7
When obligations to creditors become so massive that making minimum payments proves impossible, a debtor living in Louisiana could consider filing bankruptcy. A potential bankruptcy filer may prefer Chapter 7 liquidation bankruptcy to a Chapter 13 payment plan....
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...
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....
