Richoux Law Firm
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March 2019 Archives

Who is eligible for Chapter 7 bankruptcy?

Many Louisiana residents may struggle with their overwhelming debt for years before deciding to take significant measures to address it. Of course, even if they decide to move forward with Chapter 7 bankruptcy, they must still meet the requirements necessary to receive debt relief through this option. As expected, a major eligibility factor relates to income.

Chapter 11 filed after company receives unfavorable court ruling

Companies that have been operating for decades are not immune to serious financial difficulties. In some cases, Louisiana businesses may have been operating well despite the debt liabilities they held, but a sudden financial blow could cause their circumstances to become unmanageable. As a result, they may file for Chapter 11 bankruptcy for help.

Chapter 13 may work for those who do not qualify for Chapter 7

When struggling with financial issues, namely substantial debt, many Louisiana residents want to find the best option for their particular circumstances. They may even have ideas in mind for finding the debt relief they strive for, like filing for bankruptcy. However, it is important to remember that qualifications must be met for Chapter 7 or Chapter 13 bankruptcy.

Is debt settlement a beneficial debt relief option? Probably not.

Wanting to get out from under crushing debt is a desire of many people in Louisiana and elsewhere. Of course, finding the right option for reaching that goal can be difficult. After all, it can be hard to determine when a debt relief option is legitimate or is a scam that may only make matters worse. While options like bankruptcy are certainly reliable, some individuals may still want information on other possible paths, like debt settlement.

Contact

Richoux Law Firm, L.L.C.
110 E. Kaliste Saloom Road
Suite 205
Lafayette, LA 70508

Toll Free: 888-327-5740
Phone: 337-205-7049
Fax: 337-456-6299
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