Many people who are trying to get out of debt believe bankruptcy to be an unfortunate last resort. However, filing for Chapter 7 bankruptcy can actually be beneficial for many Louisiana residents who have accumulated significant amounts of consumer debt. Those who file can emerge with a clean slate and begin rebuilding their finances without the worry how to pay off overwhelming debt.
Chapter 7 bankruptcy could lead to financial stability
Debt relief after the death of a loved one
The loss of a loved one is difficult on everyone. Besides the emotional stress involved, families often deal with financial stresses as well. One common issue families face is what to do about credit card debt. Several debt relief options could be available to Louisiana residents who face monetary problems following the death of a family member.
Struggling businesses can benefit from Chapter 11 bankruptcy
Financial stability is one of the most important aspects of a successful business. However, factors such as debt accumulation can greatly affect the stability of many companies. Louisiana business owners should be aware of their legal options when dealing with serious financial problems. In some cases, filing Chapter 11 bankruptcy can help alleviate this burden and save a failing business. The owners of a large tech company called Avaya recently made the decision to file.
Is a vehicle purchase possible during Chapter 13 bankruptcy?
For some Louisiana consumers, getting back on their feet after financial difficulties can take a long time. While the support and guidance of an experienced attorney can be invaluable when a person files for Chapter 13 bankruptcy, it can be just as valuable in the three to five years it takes to complete the process. Many issues can arise during that time, one of which is the need for a new vehicle.
Can you discharge student loan debt in Chapter 7 bankruptcy?
You went back to school to improve your life. You expected that school would help you find a more secure, better paying job. It was easy to think that you could easily pay back your student loan debt once you had a good paying job.
Debt relief: What to do if a loan application is rejected
Louisiana consumers who are going through tough financial times may try various options to regain financial stability. Applying for a personal loan is likely one of the first remedies sought to obtain debt relief. However, many loan applications are not successful, and those already anxious about their financial situations may stress even more, not knowing how to resolve the problem.
Bankruptcy is one option for overcoming debt problems
Residents of Louisiana whose financial circumstances have unexpectedly changed for the worse may be concerned about their credit card payments falling behind. Whether the difficulties followed job loss or unexpected medical emergencies, remedies are available. While many people choose to try other options first, some consumers find the protection offered by bankruptcy to be most appropriate.
Bankruptcy: Credit cards -- enemies or friends?
In Louisiana and other states, some people are said to never leave their homes without their credit cards. According to the Federal Reserve, credit cards are used to make more than half of all purchases nationwide. However, if managed properly, a credit card can be a consumer's friend; if not, it can be an enemy that may bankruptcy protection to alleviate.
