The information contained on this website is not, nor is it intended to be legal advice. Your should consult with an attorney regarding your individual legal situation. Submitting information to us through the form on this website does not create an attorney-client relationship.
The Louque Law Firm, L.L.C.
Phone: (504) 324-2807
Toll Free: 1-866-264-4690
Federal Law designates Robert M. Louque, Jr. and The Louque Law Firm, L.L.C. as a debt relief agency. In addition to protecting the rights of consumers, we help individuals file for Bankruptcy Relief.
FAQ About Bankruptcy
What is the difference
between Chapter 7 and Chapter 13?
In a Chapter 7, you file a
petition seeking a discharge of all dischargeable in exchange
for giving up certain non-exempt assets. Louisiana
has very generous exemptions and most people can keep all of their
property in a Chapter 7. However, there are some
circumstances in which a Chapter 7 debtor will lose property.
The most common example is a large income tax
refund. We will discuss all issues that arise at
your initial consultation.
In
a Chapter 13, you file a
petition, along with a plan of reorganization, and pay your obligations
over a period of three to five years. Chapter 13
is designed for wage earners and is commonly used to save the family
home from foreclosure or to protect valuable property that would be
lost in a Chapter 7.
How much does
it cost to file for bankruptcy?Currently, the bankruptcy filing fee for filing a Chapter 7 is $299.00. The filing fee for filing a Chapter 13 is $274.00. Attorney's fees vary from case to case and will depend on the various issues involved in your case. At the initial consultation, you will be informed of the total costs, including attorney's fees, in the event you decide to file for Bankruptcy.
Can
I pay my attorney's
fees and costs in installments? If we determine you should file a Chapter 7, all fees and costs must be filed before we file your case. The reason for this is, upon the filing of your case, we become a general creditor and are unable to request payment of any outstanding fees and costs.
If we determine you should file a Chapter 13, you will make a down payment on your case and the remainder of your fees will be paid by the Chapter 13 Trustee when you pay your plan payments.
Should I pay
off my debt to any creditors I want to keep? No. If you make any payments to any creditors, including family members, soon before you file for bankruptcy, the trustee can sue those creditors to recover the money you paid to them so the money can be evenly distributed to your creditors. If you have already made a payment to a family member or other creditor, please inform us so we can properly deal with the issue.
Am I allowed to leave
creditors out of my Bankruptcy? No. You must list all creditors on your bankruptcy petition, whether you intend to pay them or not after you receive your discharge. This includes mortgages and car notes. The law allows you to reaffirm the debt on certain property you wish to keep.
Can bankruptcy be used to
stop a vehicle repossession, home foreclosure, or wage garnishment.
Yes. All collection activity must stop when you file for Bankruptcy. If you are behind on your mortgage or care note, a Chapter 13 allows you to catch up the payments without losing the property. If your wages are garnished after you file for Bankruptcy, we can assist you in getting the money back for you.
When do I obtain a
discharge? As long as you honestly complete you Bankruptcy paperwork, a Chapter 7 discharge is usually obtained within 90 days after the Meeting of Creditors.
In a Chapter 13 case, you obtain a discharge when you complete your obligations under the Chapter 13 Plan we work out for you.
Are there any debts I
cannot
discharge in bankruptcy? Yes. While most debts are dischargeable, you will still owe some debts even after you obtain a discharge. Debts that are not discharged include student loans, some tax debts, child support, alimony and spousal support, criminal fines, penalties, and restitution, debts that are not listed in your bankruptcy paperwork, damages caused by driving while intoxicated, and debts incurred by fraud. You will be informed if there are any debts you have that are not dischargeable. In some cases, you can file a Chapter 13 to discharge debts that would not be dischargeable in a 7.
Are judgments
discharged? Yes and no. When you obtain a discharge, your personal obligation on that judgment is discharged. However, if you own any immovable property (real estate) in the Parish where a judgment is recorded, that creditor still has a valid in rem claim to the property. Fortunately, in a lot of circumstances the judgment can be avoided using laws in the Bankruptcy Code. Please inform us of any judgments you have against you, and we will discuss whether you can avoid that judgment.
FAQ
About Bankruptcy