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...
When a court could take back a bankruptcy discharge
Chapter 7 bankruptcy can be a godsend for Louisiana debtors who need a fresh start. In an overwhelming majority of cases, these debtors can rest easy knowing that the debt discharge they receive from the bankruptcy process is permanent for all of their past debts....
How the bankruptcy means test determines Chapter 7 eligibility
Most people who file for bankruptcy in Louisiana do so through either a Chapter 7 or a Chapter 13 format. There are some important differences between the two types of filings, including how long they take, how they work and how you qualify for them. If you wish to...
Do you have to sell your cat during bankruptcy?
There should be more to life than constantly struggling to pay monthly bills or worrying about your financial future. Still, if you are like the average American who is more than $90,000 in the red, your outstanding debt may be ruining your life. Your cat always seems...
Do you automatically lose your home if you file for bankruptcy?
Having too much debt often leads to stress and anxiety, and if you count yourself among the many people struggling to make ends meet this year, you may be thinking about bankruptcy. If you are thinking about doing so and are also a homeowner, you may have concerns...
Breaking down the Chapter 7 means test
As you contemplate the decision to seek bankruptcy protection in Louisiana, one of the most important choices you will make throughout the entire process is what chapter you will file under. Like most of the clients that we here at Simon Fitzgerald LLC work with, your...
