Repossession, Foreclosure & Garnishments

Louisiana Lawyers Protecting Clients from Repossession and Foreclosures

Are you at risk for having your car repossessed? Is your lender threatening to foreclose on your mortgage? Are you afraid there is nothing you can do to prevent the repossession or foreclosure from occurring? The bankruptcy attorneys at McBride & Collier can help you save your valuable property from your creditors while consolidating your debt into manageable payments.

Contrary to popular opinion, filing for bankruptcy does not mean you have lost everything. In fact, bankruptcy allows many consumers to keep their most valuable assets while they pay off their debts. However, you must be careful to ensure you are filing for the correct type of bankruptcy because Chapter 7 can actually speed up the repossession or foreclosure process, as opposed to stopping it. That is why it is important to hire a lawyer to help you choose the best chapter for you. At McBride & Collier, we will assess your financial situation and, when we decide bankruptcy is the best solution, we will file under the chapter that is most appropriate.

Chapter 13 bankruptcy can protect your property from repossession and foreclosure, even if the process is already in progress. Not only will you be able to keep your property, but you will also protect it from future liens and judgments imposed by creditors or even the court system. In the foreclosure process it is possible to stop the foreclosure before AND after you have been served with foreclosure documents. Even up to the day of the Sheriff’s sale, filing bankruptcy can prevent the foreclosure.

In Louisiana, creditors can garnish up to 25% of your wages to pay outstanding debt. Chapter 7 bankruptcy immediately stops wages garnishments, with the exception of some tax debts and some student loans. Chapter 13 bankruptcy immediately stops ALL wage garnishments.

The lawyers of McBride & Collier have helped clients throughout the state of Louisiana, including the cities of Alexandria, Shreveport, Monroe, Bossier City, Pineville, Mansfield, Ruston, and Natchitoches; keep their homes and cars under Chapter 13 bankruptcy. We can help you too. Contact our office today to schedule a free initial consultation.

For more information about bankruptcy, visit our Bankruptcy Information Center.