Louisiana Bankruptcy

Each year, thousands of people in Louisiana decide to seek bankruptcy protection. If you’re drowning in debt, speak with a local bankruptcy attorney about your options.

We can connect you with a Louisiana bankruptcy lawyer in your area. All you have to do is enter your ZIP code below and fill out our free 2-minute bankruptcy form and we’ll connect you today.

Filing Chapter 7 Bankruptcy in Louisiana

If you’re thinking about filing for Chapter 7 bankruptcy to relieve you debt, you likely have many questions about what to expect from the bankruptcy process before you speak with a Louisiana bankruptcy lawyer.

This page is designed to explain the basics of Louisiana’s Chapter 7 exemptions.

Let’s start by defining what exactly Chapter 7 bankruptcy is. Chapter 7 bankruptcy is oftentimes referred to as “liquidation,” which means your bankruptcy trustee can liquidate (sell off) your nonexempt property to raise money to pay your creditors.

Through a Chapter 7 bankruptcy, old debt like credit cards, medical bills and payday loans may be wiped away … forever. For more information about the specifics of Chapter 7 bankruptcy, please visit out Chapter 7 bankruptcy section.

Louisiana Bankruptcy Laws

When you file bankruptcy, Louisiana bankruptcy law protects some of your personal possessions from the bankruptcy court. Your bankruptcy lawyer can help you figure out exactly which of your belongings are exempt, but here’s some basic information to give you an idea of what to expect.

The following items are exempt from Chapter 7 liquidation in Louisiana:

Homestead: A home, or up to 200 acres of land no in a municipality, is exempt up to $25,000.

Wages: 75 percent of your disposable income.

Vehicle: One vehicle worth up to $7,500.

Personal Property:

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

Questions? Talk to Louisiana Chapter 7 Bankruptcy Lawyer

Whether you’re wondering how to figure out what your personal belongings are worth or how to get your bankruptcy case started, a Louisiana bankruptcy attorney can help guide you.

The bankruptcy process is complex and demanding. Without help from a professional, you could end up missing a deadline, incorrectly filling out a form or forgetting to complete a predischarge requirement.

We here at Chapter7.com want to make sure your bankruptcy case goes as smoothly as possible. We can connect you with a Louisiana bankruptcy lawyer right now–you don’t even have to leave this Web site. Simply fill out the above free online case evaluation or call us at 877-226-6844 to get started.

Note: Keep in mind all laws are complex. If you need legal advice or want to fully understand how these laws affect you, please speak with a local attorney.

Laws may have changed since our last update. For the latest information on your state’s bankruptcy laws, speak to a local bankruptcy lawyer.