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Considering bankruptcy? Avoid these mistakes

| Sep 27, 2018 | Chapter 7 |

It is common for Louisiana residents and those elsewhere to have a love-hate relationship with their finances. They may love when they have a little extra income or splurge on a treat, but they may also hate the amount of debt they have. For some, their debt may be so consuming that they rarely, if ever, have the chance to buy even a small treat. Fortunately, avenues like bankruptcy may be able to help.

Bankruptcy is a major step when looking for debt relief. While it can allow individuals to get back on track financially, it only works when completed correctly. Parties looking to follow this route need to make sure that they understand all of their outstanding balances. If they do not, they may not disclose all of their debts in their bankruptcy petitions and to the court, which means that the debts cannot be discharged. As a result, the process may not work as intended.

Additionally, bankruptcy involves a considerable amount of paperwork and legal steps. If any important information is left out or filed improperly, a person’s case could get derailed. Of course, it can seem intimidating to try to get all of the correct documents and information together.

Fortunately, Louisiana residents do not have to try to face bankruptcy alone. Attorneys experienced in this debt relief process could provide useful information and guidance to interested parties. These legal advocates can also ensure that petitioners have filed all the correct documentation and that preventable errors do not exist that would otherwise complicate parties’ cases.

Facing Overwhelming Debt?