Due to today's tough economic climate, many families are struggling to keep up. Due to layoffs, cutbacks or catastrophic medical expenses, you may be wondering how you will possibly make all your monthly payments. Making a fresh start through Chapter 13 Bankruptcy may be right for you.
To find out more about bankruptcy, we recommend you consult an experienced bankruptcy attorney. At Bacchus Law Group, LLC we counsel clients that bankruptcy is not a sign of shame or failure. Chapter 13 Bankruptcy lets you reorganize your debts in payments over three to five years. Note that it is a common misunderstanding that filing a Chapter 13 plan of reorganization necessarily means that you have to pay back all of your unsecured creditors. Depending on your past and present income as well as your projected living expenses, it may be that you receive a full discharge of liability on your unsecured debts just as if you filed a Chapter 7 bankruptcy. A through consultation and evaluation of income and expenses will help your attorney determine to what extent you must pay back certain creditors. Call for your free Chapter 13 plan analysis today!
Contact the firm to discuss your case. Call the Baton Rouge office at 225-615-7774 or the LaPlace office at 985-651-5421 to schedule your free telephone consultation.
Chapter 13 Bankruptcy is also called a wage earner or debt repayment plan. To qualify for Chapter 13 you must have a regular source of income for the three to five year repayment plan. In order to determine if you qualify for Chapter 13, you mfust first determine if you make more or less than the State median income of $48,287 for a famifly of two or $66,256 for a family of four.
If your income is lower than the median, you may propose a three year repayment plan. If your income is higher than the median, you may propose a five year repayment plan. If you lose your job halfway through the payment plan, you may request a modification.
You will not qualify for Chapter 13 Bankruptcy if secured debt such as a mortgage exceeds $1,010,650, or unsecured debt such as money owed on credit cards, exceeds $336,900.
If you decide to move forward with Chapter 13 Bankruptcy, you must complete required credit counseling education to meet bankruptcy requirements. Enter attorney code RL4722 to have a certificate of completion sent to our office for the two required courses.
When you file for Chapter 13 Bankruptcy, the court will order an automatic stay. That means that your creditors may not contact you at work or at home to collect unpaid debts. If your home is in foreclosure, it may not be sold, and creditors may not garnish your wages. The stay remains in force throughout the three to five years of the payment plan.
The Bacchus Law Group, LLC prides itself on client communication. Our attorneys keep clients informed of every step of step of the process involved in resolving their concern. Phone calls are important and are returned within the same day. Contact the firm to schedule a free telephone consultation about your Chapter 13 or Chapter 7 Bankruptcy concerns with a qualified lawyer.
Bacchus Law Group, LLC
Baton Rouge Office:
5536 Superior Drive, Suite F
Baton Rouge, LA 70816
Telephone: 225-615-7774 | Fax: 225-615-7573
LaPlace Office:
518 Belle Terre Blvd
Laplace, LA 70068
Telephone: 985-651-5421 | Fax: 985-651-5491
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
The lawyers at Bacchus Law Group, LLC provide quality legal services to clients throughout southeast Louisiana and the River Parishes in the communities of Baton Rouge, LaPlace, Denham Springs, Gonzales, Prairieville, New Orleans, Kenner, Metairie, Zachary, Port Allen, Livingston and Walker. The firm also represents people and businesses in St. John Parish, St. James Parish, St. Charles Parish, East Baton Rouge Parish, West Baton Rouge Parish, Ascension Parish, Livingston Parish, Jefferson Parish, St. Tammany Parish and Orleans Parish.
The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.
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