400 Convention Street, Suite 700, Baton Rouge, Louisiana, 70802
Practice Areas : Bankruptcy
11953 Coursey Blvd., Baton Rouge, Louisiana, 70816
Practice Areas : Bankruptcy
400 Convention Street, Suite 700, Baton Rouge, Louisiana, 70802
Practice Areas : Bankruptcy
3433 Hwy 190, Mandeville, Louisiana, 70471
Practice Areas : Arbitration & Mediation
10537 Kentshire Court, Baton Rouge,, Louisiana, 70810-2853
Practice Areas : Bankruptcy
100 South Main St., Breaux Bridge, Louisiana, 70517
Practice Areas : Bankruptcy
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Bankruptcy attorneys help people and businesses deal with debt they cannot pay. Chapter 7 wipes out most unsecured debt in a few months for filers who qualify. Chapter 13 reorganises debt into a three- to five-year plan and can stop a foreclosure or catch up arrears. Chapter 11 restructures businesses and high-debt individuals.
Filing triggers an automatic stay: collection calls, wage garnishment, repossession and foreclosure proceedings stop while the case is pending. What you keep depends on exemptions, which differ sharply from state to state.
Before you hire
- Ask which chapter fits and why. The means test decides eligibility for Chapter 7, but the better answer often depends on whether you are trying to protect a house or a car.
- Ask what the flat fee covers and what the court filing fee and mandatory credit counselling add.
- Not all debt is dischargeable: most student loans, recent taxes, child support and fraud-based debts survive.
- Stop using credit cards and do not transfer property before filing. Both create problems that are expensive to fix.
Foreclosure defence, collections and consumer law cover neighbouring problems if bankruptcy is not the right tool.
Bankruptcy: frequently asked questions
Can you keep your house if you file for bankruptcy?
Often, yes. In Chapter 7 you can keep your home if your equity is protected by your state's homestead exemption and you are current on the mortgage. In Chapter 13 you can keep it even with extra equity or missed payments, by catching up on the arrears through a three- to five-year plan while paying the regular mortgage.
How long does bankruptcy stay on your credit report?
A Chapter 7 bankruptcy can stay on your credit report for up to 10 years from the filing date. A Chapter 13 bankruptcy is usually removed after 7 years. The effect on your score is strongest in the first year or two and fades over time, especially if you rebuild with on-time payments.
How much does it cost to file for bankruptcy?
The court filing fee is $338 for Chapter 7 and $313 for Chapter 13. Required credit counseling and debtor education courses add roughly $20 to $100. Attorney fees usually range from about $1,000 to $2,500 for a simple Chapter 7 and from about $3,000 to $6,000 for Chapter 13, often paid through the plan.
What debts cannot be discharged in bankruptcy?
Bankruptcy does not erase every debt. Child support and alimony, most student loans, most recent income taxes, criminal fines and restitution, debts for death or injury caused by drunk driving, and debts obtained by fraud generally survive. Some of these survive automatically; others only if the creditor successfully objects in the bankruptcy case.
What is bankruptcy law?
Bankruptcy law is the federal law that lets people and businesses who cannot pay their debts either eliminate them or repay them under court protection. It is set out in the US Bankruptcy Code, handled by federal bankruptcy courts, and offers several “chapters” — mainly Chapter 7, 11 and 13 — each designed for different situations.
What is Chapter 13 bankruptcy?
Chapter 13 is “reorganization” bankruptcy for individuals with regular income. The debtor keeps their property and repays part or all of their debts through a court-approved plan lasting three to five years. It is often used to stop foreclosure, catch up on missed mortgage or car payments, or protect assets that Chapter 7 would not.
What is Chapter 7 bankruptcy?
Chapter 7 is “liquidation” bankruptcy. A court-appointed trustee may sell a debtor's non-exempt property to pay creditors, and most remaining unsecured debts — credit cards, medical bills, personal loans — are discharged, usually about four months after filing. To qualify, individuals generally must pass a means test showing limited income.
What is the automatic stay in bankruptcy?
The automatic stay is a court order that takes effect the moment a bankruptcy case is filed and stops most collection actions against the debtor — lawsuits, wage garnishments, repossessions, foreclosures, collection calls and utility shutoffs. It gives the debtor breathing room while the case proceeds. Creditors who violate it can be ordered to pay damages.