A married couple in their early 40s came in for their free consultation to see if there was any way force their creditors to stop harassing them. The household consisted of the two of them along with their two school-age children. They had a little over $40,000 in credit card bills and signature loans. Both were recently unemployed and had no way to make regular monthly payments on the debt. Even though they had advised their creditors of their financial position, the creditors were pursuing them ruthlessly. We looked at options for controlling the creditors through bankruptcy. With a chapter 13, reorganization, they could have gone into a chapter 13 plan through which they would make a small monthly payment (approximately $100 per month) for 36 months. At the conclusion of the plan unpaid balances will be wiped clean. The other option was to file a chapter 7. With a chapter 7, liquidation, they would not have to repay any of the debt to the creditors and, within approximately 4 months, would receive a full discharge of all debt. After considering both options, the clients ultimately opted to file for Chapter 7.
The attorneys and lawyers at the bankruptcy law firm of Kirkpatrick and Associates have helped good people through bad times in Southeast Louisiana since 1999. The parishes we serve are Orleans, Jefferson, Assumption, Lafourche, Plaquemines, St. Bernard, St. Charles, St. James, St. John the Baptist, St. Tammany, Tangipahoa, Terrebonne and Washington. So whether you live in New Orleans, Metairie, Gretna, Avondale, Chalmette, Belle Chasse, Slidell, Covington, Mandeville, LaPlace, Houma, Thibodaux, Luling, Ponchatoula, Hammond, Amite, Kentwood, Franklinton or Bogalusa, our bankruptcy lawyers and attorneys are here to help.