This document is a disclosure statement of compensation of the attorney for the debtor. The attorney must list the source of the compensation, the amount agreed upon for legal services, and the balance due.
Louisiana Disclosure of Compensation of Attorney for Debtor - B 203
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The good news is that if you ? or the attorney you hire ? gets the paperwork right and the case moves through the court to the point where debt discharge is determined, the U.S. Bankruptcy Courts says that 99% of Chapter 7 cases succeed. Can Bankruptcy be Denied? 6 Reasons for Denial - Debt.org debt.org ? bankruptcy ? chapter-7 ? reasons... debt.org ? bankruptcy ? chapter-7 ? reasons...
Motor Vehicle Exemption In general, Louisiana residents are able to exempt up to $7,500 of the value of one vehicle. You are additionally allowed to exempt up to another $7,500 if you have another vehicle outfitted to assist someone who has a disability. Chapter 7 Bankruptcy Exemptions In Louisiana - The Cook Law Firm thecooklaw.com ? bankruptcy-information thecooklaw.com ? bankruptcy-information
If your total monthly income over the course of the next 60 months is less than $7,475 then you pass the means test and you may file a Chapter 7 bankruptcy. If it is over $12,475 then you fail the means test and don't have the option of filing Chapter 7. Chapter 7? - Louisiana Bankruptcy Means Test louisianabankruptcylaw.com ? means-test louisianabankruptcylaw.com ? means-test
There is a $338 court filing fee for a Chapter 7 bankruptcy. If you can't afford to pay this amount, you can ask the court for a fee waiver. But keep in mind that if your household income exceeds 150% of the federal poverty guidelines, you won't qualify for this waiver. (See the Louisiana Fee Waiver Eligibility below).
The undeniable upside to filing for Chapter 7 bankruptcy is the debt relief it provides. It has the power to lift a major burden off your shoulders in just a few months. Most unsecured debt can be discharged, including credit cards, medical bills, and personal loans. Pros and Cons of Filing for Chapter 7 Bankruptcy - Debt.org debt.org ? bankruptcy ? chapter-7 ? pros-cons debt.org ? bankruptcy ? chapter-7 ? pros-cons