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Reorganization

New Orleans Bankruptcy Lawyer Case Study: Stopping Creditor Collections with Chapter 7 in New Orleans, Louisiana

Late 40s divorced male attended the consult to consider bankruptcy related options to control his overwhelming debt. His primary debt stemmed from a home foreclosure deficiency balance. Another words, when his home was foreclosed on, he owed approximately $100,000 but the property only sold for $60,000 at Sheriff sale. Accordingly, the creditor was pursuing him for the $40,000 difference plus interest and cost. As well, he has a proximally $20,000 in credit card debt and a couple thousand dollars in tax liabilities. Finally he has a car note that he is current on.

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