Including credit card debt in your bankruptcy filing in Louisiana is a process that involves several steps. It’s important to understand that when you file for bankruptcy, you are required to list all of your debts, including your credit card debts. This is true regardless of whether you are filing for Chapter 7 or Chapter 13 bankruptcy.
In a Chapter 7 bankruptcy, most of your unsecured debts, including credit card debts, can be discharged, meaning you are no longer legally obligated to pay them. However, certain types of debts, such as student loans, child support, and some tax debts, are generally not dischargeable.
In a Chapter 13 bankruptcy, you enter into a repayment plan to pay back a portion of your debts over a period of 3 to 5 years. This includes your credit card debts. Any remaining credit card debt may be discharged at the end of your repayment plan.
How should I list my credit card debts in the bankruptcy paperwork to ensure they are included in the filing in Louisiana?
Here are the steps you should follow to ensure your credit card debts are included in your bankruptcy filing:
- Gather all your credit card statements: Collect all your recent credit card statements. These will provide the necessary information about your credit card debts, including the name of the creditor, the account number, and the amount you owe.
- Complete the bankruptcy forms: In the bankruptcy forms, you will need to list all your debts. This includes your credit card debts. Be sure to list the name of the creditor, the account number, and the amount you owe for each credit card debt.
- Verify the information: It’s important to ensure that the information you provide is accurate. Double‑check all the information before submitting your bankruptcy paperwork.
- Consult with an attorney: If you have any questions or concerns about listing your credit card debts in your bankruptcy paperwork, consult with an experienced bankruptcy attorney. They can provide you with the necessary guidance and ensure that you are completing the paperwork correctly.
Is there a limit to the amount of credit card debt I can include in a bankruptcy filing in Louisiana?
When it comes to including credit card debt in a bankruptcy filing in Louisiana, there is no specific limit to the amount of credit card debt you can include. Whether you have a small amount or a substantial amount of credit card debt, you can include it in your bankruptcy filing.
The purpose of bankruptcy is to relieve individuals or businesses from overwhelming debt. It allows for the discharge or reorganization of debts, including credit card debt, in order to obtain a fresh financial start. However, it’s important to note that not all debts are dischargeable in bankruptcy, and there may be certain limitations or exceptions depending on the type of bankruptcy you file.
Bankruptcy is designed to assist individuals in financial distress, providing relief and a fresh start regardless of the specific debts involved. Our knowledgeable attorneys will analyze your situation, ensuring that all eligible credit card debts are properly included in your bankruptcy filing, allowing you to address your financial issues comprehensively.
At Simon Fitzgerald LLC, our team of experienced bankruptcy attorneys is here to assist you. We can provide you with accurate information, answer your questions, and guide you through the process of including your credit card debt in your bankruptcy filing. Our goal is to help you navigate your financial challenges and determine the best course of action for your situation.
For more information, you can visit: U.S. Courts ‑ Filing for Bankruptcy
Feeling trapped by credit card debt? Our free guide is a great place to start. And remember, if you’re stuck with a tough question, our bankruptcy experts are just a click away. If you’re considering bankruptcy, submit your details and let our experienced team guide you.