Reliable Help When Filing For Bankruptcy in Louisiana
Sudden job loss. A medical emergency. Divorce. Life can throw serious challenges our way. Financial difficulty is one result of events like these, and it’s nothing to be embarrassed about. The De Leo Law Firm, LLC in Mandeville helps people just like you throughout St. Tammany Parish and the North Shore get back on solid financial footing. Since 1998, I’ve guided many people through bankruptcy, debt settlement, discharge and reorganization, helping them escape financial darkness and step into a brighter future.
Chapter 7 bankruptcy offers a fresh start
Chapter 7 is essentially a debt elimination program that is available to individuals and businesses who qualify. It can take three to five months from filing to completion and allows you to:
- Eliminate various unsecured debts, including credit card debt, medical bills and personal loans
- Get immediate court protection on the day you file to stop creditor collection attempts, creditor harassment, wage garnishment and other activity
- Surrender property, such as a vehicle, for which you would not be able to afford payments without taking on more financial obligations
- Potentially renegotiate a home or vehicle contract through a reaffirmation agreement
- Restart your financial life with a clean slate and begin rebuilding your credit
In addition to moving you through the bankruptcy system, I offer advice and counsel on wise ways to build your credit once your debt is eliminated, giving you a head start on your post-debt life.
Chapter 13 bankruptcy reorganizes debt and makes it manageable
Chapter 13 provides court protection from creditors along with a three- to five-year roadmap for paying back debts using a reasonable repayment plan. Think of it as a financial tool that offers a way to consolidate, restructure and reduce your debt. Chapter 13 is designed for people who earn income and have secured and unsecured debt under a certain amount. If you qualify for Chapter 13, I can help you:
- Stop home foreclosure and vehicle repossession
- Eliminate a second mortgage or home equity loan
- Possibly restructure car loans
- Prevent utility shut-offs
- Put a stop to wage garnishment
- End creditor harassment
Ultimately, Chapter 13 can help repair your credit score as long as you make timely monthly payments and improve your debt-to-income ratio.
Chapter 11 bankruptcy helps a business regain its footing
Chapter 11 is a way to reorganize debts, prioritize them and restructure operations, all while providing protection from creditors and a repayment plan to at least partially satisfy debts. Perhaps most important, Chapter 11 allows a business to continue operating, as opposed to Chapter 7, which requires liquidation of the business to pay debts. A reorganization plan that details how claims for each class of creditors (unsecured, secured, etc.) will be treated must be accepted by certain of the creditors via a vote and approved by the court. Generally, any business entity (corporation, LLC, etc.) is eligible for Chapter 11.
Obtain a free initial consultation with a Louisiana bankruptcy attorney
You can rely on The De Leo Law Firm, LLC in Mandeville, Louisiana to help you navigate the bankruptcy process. Arrange a free consultation by calling 985-685-1487 or contact me online.