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Chapter 13 Archives

Completing bankruptcy does not mean never qualifying for a loan

Many people think that if they need debt relief help then their finances will never be the same. They may believe that filing for bankruptcy will mean that they are never able to buy a home or car or get a difficult type of loan. Fortunately, that is not the case, and taking this route may help many struggling Louisiana residents.

Filing a petition among the first steps of Chapter 13 bankruptcy

Facing financial struggles is an issue that no Louisiana resident wants to deal with. Unfortunately, numerous people do end up in difficult positions regarding their financial affairs, even if they generate a steady income. For consumers who do have a regular income but are still facing overwhelming debt, Chapter 13 bankruptcy may be a worthwhile option to consider.

Bankruptcy will affect credit but does not cause permanent damage

For many Louisiana residents, their finances may have them starting each day off with dread. They may worry that creditors will call, that they will not have enough funds to buy necessities or that their credit cards will be declined. Though bankruptcy is a step that helps many people address this type of ordeal, it is common for parties to worry about how it will affect their credit.

Bankruptcy trustee important to Chapter 13 cases

Deciding to take a major step to address outstanding debt is an important event. Many Louisiana residents struggle financially before choosing to move forward with Chapter 13 bankruptcy in efforts to get their affairs in order. While understanding this type of procedure can be difficult, one aspect that individuals may want to familiarize themselves with is the bankruptcy trustee.

Chapter 13 may provide relief some parties need

Finding the right debt relief option can depend on a number of factors. Louisiana residents considering the possibilities of reducing or eliminating their debt will undoubtedly want to find the right path for their cases. For some, Chapter 13 bankruptcy may be able to provide them with the relief they need.

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.

Chapter 13 bankruptcy could help parties keep their homes

When dealing with the hardships of debt, Louisiana residents may spend a great deal of their time looking for ways to get out from under that debt. Some options may seem appealing but have questionable reliability. Of course, Chapter 13 bankruptcy offers a legal way to address outstanding debt through repayment plans.

What are some qualifications for Chapter 13 bankruptcy?

Many people in Louisiana and across the country struggle with financial problems. In some cases, the situation may become so overwhelming that it is wise to consider debt relief options rather than letting the outstanding balances and interest continue to accumulate. Chapter 13 bankruptcy may be the best option for many people, but not everyone qualifies for this opportunity.

Chapter 13 may help those facing foreclosure

No Louisiana resident wants to wind up in a situation where the loss of a home is a real possibility. However, many people face foreclosure, and it can wreak havoc on the stability of their livelihood. They may also have to contend with a great deal of mental distress as they wonder what they can do to stop the proceedings against them. In many cases, Chapter 13 bankruptcy may be able to help.

Sudden financial hardships may lead to bankruptcy need

Sudden financial hardships can happen to anyone. Some Louisiana residents may find themselves struggling due to job loss, divorce, medical emergencies or other issues that cause their finances to take a hard hit. These predicaments can often also lead to an increase in credit card use and the accumulations of other debts, which may lead to a need for bankruptcy.


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

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