Louisiana Bankruptcy Laws

Consult a Louisiana Bankruptcy Attorney

If you reside in the state of Louisiana and are thinking of filing for bankruptcy a Louisiana bankruptcy attorney will go over all of your options.

See, with the guidance of a Louisiana bankruptcy attorney, whether filing Chapter 7 or Chapter 13 bankruptcy is the choice for you.

For an initial consultation with a local Louisiana bankruptcy attorney simply fill out the form on this page.

Fill out our 10-second application form and have one of our attorneys contact you!

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Bankruptcy Law & Louisiana State Exemptions

During your first consultation with your Louisiana bankruptcy attorney you will go over all of the important differences from Chapter 7 and Chapter 13 bankruptcy.

In this interview your bankruptcy attorney in Louisiana will ask you many personal finance questions or provide you with a profile sheet to list specific details regarding your finances. The answers you give should assist you and your attorney in deciding if filing Chapter 7 or Chapter 13 bankruptcy is best strategy.

Chapter 7 bankruptcy is synonymous with liquidation as the bankruptcy trustee often decides to sell or auction non-exempted property (see State Exemptions list below).

In most of Chapter 7 bankruptcy cases, the person filing bankruptcy owns no non-exempt property, so this would not apply to the majority of filings. If you do not own much property or have many assets Chapter 7 bankruptcy may be the best choice, as you would be allowed to discharge most of your unsecured debt.

Before filing Chapter 7 bankruptcy please discuss your situation with a Louisiana bankruptcy attorney to determine exactly how much property may be exempt from liquidation.

Louisiana State Exemptions

Homestead

Up to $25,000 for a home or up to 200 acres of land not in a municipality.

Wages

75 percent of your disposable income.

Automobiles

One vehicle worth up to $7,500.

Personal Property

1. 100 percent of the value of trade and business tools, instruments and books.
2. 100 percent of the value of clothing, furniture, appliances and household items.
3. $5,000 in the value of wedding and engagement rings.

Chapter 13 Bankruptcy is also called “reorganization”. Those filing Chapter 13 may own more property and by filing Chapter 13 may also keep most of their assets.

In Chapter 13 bankruptcy, the individual debtor draws up a proposal for a repayment plan for a term of 3 to 5 years that has to be approved by a bankruptcy court. This plan allows the debtor to repay outstanding bills.

Speak With a Louisiana Bankruptcy Attorney Today

If you have ever contemplated filing bankruptcy in Louisiana you may be unaware of where to begin or feel burdened by the complexity of the state bankruptcy laws.

To answer all questions about the bankruptcy laws, a Louisiana bankruptcy attorney will be able to take you through the bankruptcy process in everyday terms. When you visit a Louisiana bankruptcy attorney you will also be able to get many of your questions and concerns answered in the first appointment.

Take the complexity out of finding a good Louisiana bankruptcy attorney. Just complete our free bankruptcy questionnaire on this page and we will connect you with a Louisiana bankruptcy attorney in your area.

Note: This is not legal advice. All bankruptcy laws in any state need the consult of a bankruptcy attorney licensed in that state. Consult a local attorney if you are seeking legal advice. Some or all bankruptcy laws may have changed since this page was created.

Louisiana Bankruptcy Attorneys are located in the following parishes:

ABBEVILLE, ARCADIA, ARKANSAS LOUISIANA GAS, ARNAUDVILLE, ATHENS, AVERY ISLAND, BARKSDALE AFB, BASILE, BASTROP, BELCHER, BELMONT, BENTON, BERNICE, BETHANY, BIENVILLE, BLANCHARD, BONITA, BOSSIER CITY, BRANCH, BREAUX BRIDGE, BROUSSARD, CALHOUN, CARENCRO, CASTOR, CHOUDRANT, CHURCH POINT, CNB, COLLINSTON, CONVERSE, COTTON VALLEY, COUSHATTA, CROWLEY, CULLEN, DELCAMBRE, DELHI, DELTA, DOWNSVILLE, DOWUS, DOYLINE, DUBACH, DUBBERLY, DUSON, EGAN, ELM GROVE, ENERGY CENTER, EPPS, ERATH, ESTHERWOOD, EUDORA, EUNICE, EVANGELINE, FAIRBANKS, FARMERVILLE, FISHER, FLORIEN, FOREST, FRIERSON, GIBSLAND, GILLIAM, GLOSTER, GRAMBLING, GRAND CANE, GRAND COTEAU, GREENWOOD, GUEYDAN, HALL SUMMIT, HAUGHTON, HAYNESVILLE, HEFLIN, HOMER, HOSSTON, IDA, IOTA, JAMESTOWN, JEANERETTE, JONES, KAPLAN, KEATCHIE, KEITHVILLE, KENNER, KILBOURNE, KROTZ SPRINGS, LA TECH, LAFAYETTE, LAKE PROVIDENCE, LAWTELL, LEBEAU, LILLIE, LISBON, LOGANSPORT, LONGSTREET, LOREAUVILLE, LYDIA, MANSFIELD, MANY, MARION, MAURICE, MELVILLE, MER ROUGE, MERMENTAU, METAIRIE, MILTON, MINDEN, MONROE, MOORINGSPORT, MORROW, MORSE, NEGREET, NEW IBERIA, NEW ORLEANS, NEWELLTON, NOBLE, OAK GROVE, OAK RIDGE, OIL CITY, OPELOUSAS, PALMETTO, PELICAN, PERRY, PIONEER, PLAIN DEALING, PLEASANT HILL, PORT BARRE, PREMIER BANK, PRINCETON, RAYNE, RINGGOLD, RODESSA, RUSTON, SAINT JOSEPH, SAINT MARTINVILLE, SAREPTA, SCOTT, SHONGALOO, SHREVEPORT, SIBLEY, SIMSBORO, SONDHEIMER, SPEARSVILLE, SPRINGHILL, STERLINGTON, STONEWALL, SUMMERFIELD, SUNSET, SWARTZ, TALLULAH, TAYLOR, TRANSYLVANIA, VIVIAN, WASHINGTON, WATERPROOF, WEST MONROE, YOUNGSVILLE, ZWOLLE