Louisiana Chapter 7 Bankruptcy Lawyers
Are your debts larger than your income and living expenses? If so, you may have trouble making full or even partial payments to your creditors, which means you might want to consider Chapter 7 bankruptcy. At the law offices of McBride & Collier, we can help you decide whether bankruptcy makes sense for you. If so, we can help you come up with a plan to discharge most of your debt and pay back creditors for property you want to keep.
Securing Your Future
Contact McBride & Collier
Chapter 7 bankruptcy proceedings begin with a free initial consultation with one of our attorneys. Once we have filed your bankruptcy paperwork, the court will appoint a Trustee for your case. The Trustee will review the paperwork we filed with the court and determine whether or not you own anything that can be sold in order to pay your creditors.
There will be a meeting with your Trustee within 20 to 40 days after your case is filed. One of our attorneys will be there with you as you receive a discharge of your debts. Known as a Section 341(a) or Meeting of Creditors, this meeting will give your creditors the opportunity to ask you simple questions about your debts. Usually, they do not attend.
What Does Chapter 7 Bankruptcy Do?
Chapter 7 discharges unsecured debt, such as credit cards, medical bills and some income tax payments. As soon as you file for Chapter 7, you will receive an automatic stay, which will put an immediate stop to creditor harassment and any foreclosure or wage garnishment action.
Tax debt that is less than three years old and student loans usually cannot be discharged under any circumstances. You may have some debts that you want to keep paying after you file, such as a car loan or mortgage. In most cases, you will have to sign a Reaffirmation Agreement with your creditors. Once you have signed, you are legally responsible for any reaffirmed debt regardless of the fact that you have received bankruptcy protection.
Contact Us
From offices in Shreveport, Monroe and Alexandria, we help individuals and families across Louisiana get the debt relief they deserve. We are ready to talk to you face to face and come up with a plan to help you secure your financial future. We offer flexible payment plans, so do not hesitate to contact us for a free initial consultation.
