As Louisiana continues to struggle with the pandemic, health concerns are being considered alongside the economic challenges posed by the crisis. State and federally mandated shutdowns have forced businesses to close, and it’s been estimated that more than 30 million Americans have lost their jobs. While Congress has passed stimulus packages to boost the economy…
Anyone who files for Chapter 7 bankruptcy is required to attend a hearing known as the 341 meeting of creditors. This is where the bankruptcy trustee and your creditors can ask you questions under oath about your bankruptcy petition. The 341 meeting is used to verify that the information you included in your bankruptcy papers…
If you’ve decided to file for bankruptcy, you’ll very likely choose between Chapter 7 and Chapter 13. While there are advantages to both, it’s important to understand how they’re different so you can determine which one works best for your situation. These are the two most common forms of bankruptcy for both individuals and small…
Declaring bankruptcy can be a difficult decision, but once the bankruptcy has been successfully discharged, debt that’s been burdening you will have been removed, giving you the opportunity to make a fresh start. However, for many who successfully complete the bankruptcy process, there are lingering worries about how it will impact your credit score and…
As one of the hardest hit states in the country, Louisiana remains under a Stay At Home order requiring residents to remain in their home as much as possible to help slow the spread of the deadly coronavirus pandemic. That order has also forced the closing of many businesses that are not considered “essential,” as…
Dealing with a business that’s deep in debt and struggling to pay credits is a rough situation to be in, and some small business owners facing this challenge might resist bankruptcy out of fears about what it could do to your credit rating and personal assets. If you’re considering a business bankruptcy but are worried…
Running a small business is never easy, and sometimes small business owners find themselves struggling with mounting debt. Figuring out how to cope with that debt is a challenge, which is why some small business owners turn to bankruptcy as an option. Bankruptcy can be utilized by most small business owners, but they’ll need to…
When a business has been operating in the red for too long, sometimes the owners turn to bankruptcy as a means of getting their finances in order or figuring out a way of coping with business debts. It can also be a way to stop creditors from chasing the business for money or threatening legal…
At the age of 20, Milwaukee resident Nick Ruiz got into the house flipping business, putting the down payments for two houses on his credit card, renting them out for a while, then selling them for a profit. After doing this for several years, he’d built a net worth of more than $2 million. Then…
When you’re considering bankruptcy, you have several options for how to proceed. While Chapter 7 is the most common form of bankruptcy, it’s not the only option, and some people chose instead to go with Chapter 11 or Chapter 13. One thing to keep in mind is that Chapter 7, Chapter 11 and Chapter 13…
