Metairie Chapter 7 Bankruptcy Lawyer
Navigating Chapter 7 Bankruptcy in Jefferson Parish, Louisiana
When you are in dire financial straits, you can quickly become overwhelmed as bills pile up and your debt increases. Despite what you may have learned about bankruptcy, filing for Chapter 7 bankruptcy can help you liquidate your assets and pay off your debts.
At Sisk Law Firm, we focus on debt relief for individuals and families who find themselves underwater financially. As your experienced Chapter 7 bankruptcy attorney, we have spent years working hard to become the go-to Chapter 7 bankruptcy lawyer in New Orleans and Jefferson Parish.
We can thoroughly examine your finances to determine if you're a candidate for Chapter 7 bankruptcy. If you decide to move forward, our Chapter 7 lawyer will explain the filing process, help you get started, and represent you in bankruptcy court. We will ensure that you are entirely comfortable with how your case is handled. At our firm, client satisfaction is a top priority; you will always have access to our Chapter 7 bankruptcy attorney in Metairie at every stage for answers to your questions and concerns.
Call Sisk Law Firm today at (504) 499-5919 or contact us online to schedule a meeting with our Chapter 7 bankruptcy attorney in Metairie!
What is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy, also known as liquidation bankruptcy, is the legal process that allows you to eliminate unsecured debts such as the following:
- Medical bills
- Utility bills
- Past-due rent
- Personal loans
- Credit card charges
Once you file for Chapter 7, your case will be assigned to a bankruptcy trustee who will collect all of your assets and sell any that are not exempt. Exempt assets are protected under bankruptcy law. The proceeds from the sales of non-exempt assets are then distributed to your creditors.
In Louisiana, a considerable amount of personal property is exempt during Chapter 7 bankruptcy. This includes an exemption of up to $35,000 of equity for your residential home and up to $7,500 equity for your motor vehicle. Other exemptions include personal property like furniture, household goods, musical instruments, pets, and other animals, qualified pensions, annuities, 75% of your disposable wage earnings, and other miscellaneous exemptions.
One of the main advantages of Chapter 7 bankruptcy is that it enables you to discharge most of your unsecured debts, giving you a fresh financial start. However, not all debts can be discharged through Chapter 7. For example, student loans, child support, and certain tax debts are usually non-dischargeable.
Chapter 7 not only provides an avenue for tackling insurmountable financial challenges but also imposes certain eligibility criteria that applicants must meet. This includes a means test designed to ensure that your financial situation merits relief through liquidation. Understanding how these factors align with your unique circumstances can be crucial in making informed decisions. Our reliable Chapter 7 bankruptcy attorney in Metairie can guide you throughout the process.
Client Testimonials
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"Mr. Sisk was So helpful Throughout this process; he made thing so easy and comfortable through and not so comfortable time!"Ashley L.
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"I spoke to other attorneys in the area, but none of them made me feel as comfortable as Chris did. I highly recommend his services to anyone in financial hardship."Ariell G.
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"I Would definitely recommend this law firm to anyone that is looking for this type of attorney."Danielle F.
Who Is Eligible for Chapter 7?
To qualify for Chapter 7, you must pass the "means test." This test compares your monthly income with the median income for a similar household in Louisiana. If your income is lower than the median, you automatically qualify for Chapter 7.
However, if your income exceeds the median, you may still qualify through additional calculations applied to the means test. These calculations consider your "disposable income," the amount left after subtracting certain allowed expenses from your monthly income.
These expenses include standard national, local, and regional allowances for living expenses such as food, clothing, housing, utilities, transportation, taxes, and payments for mandatory obligations like child support.
If deducting these amounts shows that you have enough disposable income to repay some unsecured debts over a five-year repayment period, you may not qualify for Chapter 7 bankruptcy. You might still qualify if your income is higher based on certain expenses and financial situations. However, failing the means test doesn't leave you without options. You might still be eligible to repay some of your debts through a three- to five-year Chapter 13 repayment plan.
Aside from financial qualifications, there are also responsibilities you must meet after filing. This includes attending mandatory credit counseling sessions and adhering to any court directives. Successfully managing these requirements is crucial to a positive outcome and achieving the debt relief you seek.
Understanding the Chapter 7 Bankruptcy Process
Filing for Chapter 7 bankruptcy can be complex and overwhelming, but it can also provide the fresh start and financial relief you need. Our experienced Metairie Chapter 7 bankruptcy lawyer at Sisk Law Firm is here to guide you through every step and ensure you understand your rights and options.
When you file for Chapter 7 bankruptcy, you can expect:
- Automatic stay: Once you file for Chapter 7 bankruptcy, creditors are legally required to stop all collection actions, including phone calls, letters, and lawsuits.
- Debt discharge: In a Chapter 7 bankruptcy, most unsecured debts, such as credit card debt and medical bills, can be discharged, providing a clean financial slate.
- Asset liquidation: Some of your assets may be liquidated to pay off your creditors, but exemptions are available to protect specific property, such as your home and car.
- Credit counseling: Before filing for Chapter 7 bankruptcy, you must complete a credit counseling course to ensure you understand the implications of your decision.
Each stage of the bankruptcy process is governed by specific timelines and legal procedures, making it essential to have professional guidance. Failure to comply can result in delays or dismissal of your bankruptcy petition. It's important to maintain open communication with your legal representative to provide accurate information and respond to requests promptly, ensuring a smoother navigation through the court system.
We aim to help you achieve your financial freedom and start a new chapter in your life. Contact Sisk Law Firm today to schedule a consultation with our Chapter 7 attorney and take the first step towards a brighter financial future.
Contact Our Metairie Chapter 7 Bankruptcy Attorney Today
Don't risk financial ruin. Financial freedom is within your grasp. Enjoy a debt-free life today by working with us as your experienced Chapter 7 bankruptcy attorney in Metairie. If Chapter 7 Bankruptcy isn't the right solution for you, we can look into other bankruptcy and debt-relief options, including filing for Chapter 13 bankruptcy.
Whatever circumstances bring you into our office, we'll do everything we can to help you find a solution that gives you the financial freedom and fresh start you deserve.
Contact Sisk Law Firm by calling (504) 499-5919 today to meet with our Chapter 7 bankruptcy lawyer in Metairie!