Persons struggling with financial situations may discover they cannot pay their creditors. Rather than continue with their current insurmountable debt situation, Louisiana debtors might file for bankruptcy in federal court. For many, Chapter 13 is the appropriate...
Chapter 13 bankruptcy for those who qualify
Chapter 13 bankruptcy is one of the two main types of bankruptcy generally open to Louisiana consumers, the other being Chapter 7. Chapter 13 is also sometimes referred to as a wage earner's bankruptcy because it is available to people who have a steady source of...
Filing for Chapter 13 bankruptcy
Filing for bankruptcy might be the most beneficial financial decision a debtor could perform. Anyone challenged by excessive creditor obligations may find themselves paying interest yearly without lowering the loan and credit card balances. Repossessions could become...
Understanding the Chapter 13 payment plan in Louisiana
When you are in debt, one of the practical ways that can help you get out of it is filing for bankruptcy in Louisiana. However, if you decide to go this route, it is essential for you to devise a plan that would make this process a success. How repayment works Chapter...
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...
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...
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...
What to know about the bankruptcy means test
Many consumers in Shreveport, Louisiana, consider bankruptcy when they don't see a way out of debt. The most popular bankruptcy type is Chapter 7, which liquidates assets to pay certain unsecured debts. However, the filer must meet certain requirements before they can...
Final payments and Chapter 13 bankruptcy discharges
Although bankruptcy remains a structured process, many wonder how their specific proceedings will play out. Persons filing Chapter 13 bankruptcy must agree to a payment plan and meet their monthly obligations on time. After making the final payment, a Louisiana...
