Don’t Hesitate To File Chapter 7 Bankruptcy!

A popular question that most people have is, “Why should I hire a Chapter 7 attorney in Louisiana?” Imagine someone in debt, feeling lost. Chapter 7 bankruptcy is like a helping hand, a clean slate. But the rules are tricky, like a maze. That’s where a lawyer comes in, like a guide. 

Chapter 7 bankruptcy in Louisiana might be a way out from your overwhelming debts. Think of it like selling some stuff (except what the law protects) to pay off most of your bills like credit cards, medical costs, and loans. This process usually takes 3-6 months. Plus, it stops creditors from bothering you while things get sorted.

Short Summary

  • Chapter 7 bankruptcy offers a fresh start by wiping out most debts, like credit cards and medical bills, typically within 3-6 months.
  • A Chapter 7 attorney can assess your situation and explore options beyond bankruptcy.
  • They help you understand Chapter 7 eligibility criteria, assess the value of your assets accurately, and navigate state-specific rules.
  • A Chapter 7 attorney provides essential support at every stage of the bankruptcy process, from initial filing to rebuilding credit after bankruptcy.
  • To qualify, individuals need to meet certain income criteria and may need to pass a means test to determine eligibility.
  • Certain assets, such as a portion of home equity, vehicles, household items, and retirement savings, are protected under Louisiana law during Chapter 7 bankruptcy.
  • Once Chapter 7 bankruptcy is filed, creditors are legally required to stop contacting debtors, providing relief from constant harassment.

What is Chapter 7 Bankruptcy? 

Stuck in debt and looking for a quick way out? Chapter 7 bankruptcy might seem like the answer. It’s fast, taking just a few months, and you don’t have to pay your creditors back. 

This option only works well if you mainly have essential stuff like clothes, furniture, and maybe a car to get to work. Anything extra could be sold to pay your debts. Plus, unlike other types of bankruptcy, you can’t catch up on missed mortgage or car payments. So, you could lose your house or car too. 

Why Should I Hire a Chapter 7 Attorney in Louisiana?

Facing a mountain of debt can feel scary and confusing. But before you jump into bankruptcy, it’s important to get help from someone who knows the ropes: a lawyer who specializes in bankruptcy. They can spot problems early on and guide you towards the best solution, saving you a lot of stress and trouble in the long run.

Here’s why having a Chapter 7 attorney on your team is worth it:

  • They explore other options: Turns out, bankruptcy isn’t always the answer! Your Chapter 7 attorney can look at other ways to get back on your feet, like debt consolidation or negotiation.
  • They pick the right path: There are several things underlying Chapter 7 bankruptcy. Each one has its own rules and benefits. Your Chapter 7 attorney will talk with you about your goals (like saving your house) and pick the path and sound choices that get you there.

Can a Chapter 7 Attorney Help Me Get Ready?

Absolutely! Filing for bankruptcy can be confusing, but a Chapter 7 lawyer can help you with every step. Here are some ways they can be your guide:

  • Figure out if you qualify: There’s a test to see if you qualify for Chapter 7 based on your income. Your Chapter 7 attorney knows how to do this test and can even consider special situations you have that might affect your result.
  • Know what you own: Do you know how much your stuff is worth? Your lawyer can help you figure out the value of your belongings, like your TV or furniture, so you report everything accurately.
  • Keep what you need: Every state has different rules about what you can keep after filing. Your Chapter 7 attorney knows these rules and will help you protect as much of your stuff as possible.
  • Say goodbye to debt: Not all debts disappear in bankruptcy. Some might stick around even after you file. Your lawyer will explain which debts you’ll be free of and which ones might still be hanging around.

What Does a Chapter 7 Attorney Do for You?

Here’s what they can do to help:

  • Paperwork Pro: Bankruptcy involves tons of forms about your money, debts, and stuff. It’s easy to mess up. Your Chapter 7 attorney knows all the rules and what needs to be filled out, so you don’t have to worry.
  • Your Guide Through the Maze: Filing for Chapter 7 bankruptcy can be confusing, but your Chapter 7 attorney will explain everything step-by-step. You’ll learn what the judge and trustee do, how to get your debts discharged, and what your creditors can do.
  • Telling the Truth: When you sign the paperwork, it’s like promising it’s all true. Your Chapter 7 attorney helps you answer questions honestly in court and at meetings with your creditors.
  • Keeping Creditors in Line: Sometimes, creditors keep trying to collect even after you file. But there’s a rule that stops them! If they break it, your Chapter 7 attorney can tell them to stop or even ask the judge to punish them.
  • Dealing with Debts: In certain cases, your Chapter 7 attorney can negotiate with creditors to lower your debt or let you keep your car or house. They can also help you lower your monthly payments in other situations.

Does a Chapter 7 Lawyer Help After Bankruptcy?

Yes, the right Chapter 7 attorney can still be helpful after your case is over. They’re like your bankruptcy buddy, there to make sure things go smoothly and you get a fresh start.

Sometimes, a creditor might try to collect a debt that’s already been wiped out. If that happens, your Chapter 7 attorney can step in and remind them of the rules.

Rebuilding credit after bankruptcy takes time, but your lawyer can offer helpful advice. They’ll point you towards good offers and explain how to use them to improve your credit score.

How Filing Chapter 7 Bankruptcy works in Louisiana?

Think Chapter 7 bankruptcy is like a fast track to debt relief? It can be, but there’s a catch. It’s quick and you don’t pay creditors, but only if you mostly have basic stuff you need to live and work. Fancy things like RVs or vacation homes might get sold to pay them off. Plus, unlike another type of bankruptcy, you can’t catch up on missed house or car payments, so you could lose them too.

How To Qualify for Chapter 7 Bankruptcy?

Feeling buried in debt? Chapter 7 bankruptcy might help, but it’s not for everyone. Here’s how to see if you qualify:

  • Check your income: Add up all your family’s earnings from the last 6 months and double it. Is it lower than the average income for families your size in your state? Check those numbers on the U.S. Trustee’s website.
  • Quick online test: Don’t want to do math? Try the Quick Median Income Test online.
  • Too much income? No worries: Even if you earn more, you might still qualify. Look at your expenses after your debts. If you can’t afford a payment plan for another type of bankruptcy, Chapter 7 could be an option.

How Does Chapter 7 Bankruptcy Work in Louisiana?

The Chapter 7 bankruptcy process in Louisiana involves several steps:

  1. Means Test: Is Chapter 7 bankruptcy right for you? Your Chapter 7 Attorney in Louisiana can check with a simple test.
  2. Petition Time: If it works, your lawyer files a petition with the court to start the process. You and your spouse can even file together.
  3. Credit Class: Before filing, take a credit counseling class and get a certificate to prove it.
  4. Paperwork Pile: You’ll file papers listing your income, expenses, debts, and property. It’s like a financial snapshot.
  5. Keeping Stuff: Some things you own might be protected by law, your lawyer will help figure it out.
  6. Stop Calls: Once you file, most debt collectors have to stop calling and bothering you.
  7. Creditors Notified: The court tells all your listed creditors you’re in bankruptcy.
  8. Meeting Time: A trustee oversees your case and meets with your creditors.
  9. Temporary Hold: All your stuff basically gets put on hold while the case goes on.
  10. Debt Discharged: Most of your debts get wiped out, like a clean slate!
  11. Rebuilding Credit: After everything’s settled, you might get credit card offers. Use them responsibly to rebuild your credit score.

For people stuck in deep debt, it can be a way to start over. But remember, it also affects your money and legal stuff for a long time afterward.

Can Chapter 7 Bankruptcy Stop Creditor Harassment?

Hitting hard times? Chapter 7 in Louisiana can offer a break. Here’s what it means:

  • No more calls: Creditors can’t bother you once you file. Even lawsuits against you get put on hold (except for your house).
  • Keep some stuff: Not everything disappears. You get to keep certain belongings under special rules.
  • House payments still due: Gotta keep paying your mortgage to avoid losing your home.

File Chapter 7 Bankruptcy Today in Louisiana!

In seeking answers to “Why should I hire a Chapter 7 attorney in Louisiana?” Always know that we can help! E. Orum Young Law has been helping folks in Northeast Louisiana with bankruptcy for over 35 years. 

Our legal team will guide you every step of the way to get back on your feet financially. We’ve helped over 20,000 people file for bankruptcy and are part of a national group. We handle both Chapter 7 (wipe out debts) and Chapter 13 (repayment plan) cases. Let’s achieve financial freedom! Schedule a free case review now.