Is Bankruptcy Right for You?
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At Andress | Inzina, LLC, our attorneys help people in South Louisiana take control of their financial problems through bankruptcy. We have years of experience in bankruptcy law and understand the benefits that filing for bankruptcy can bring.
But the reality is that bankruptcy is not the right answer in every situation. To answer the question likely going through your mind, “why should I file for bankruptcy,” you must first understand your rights and the likely outcome of your case. We can give you the information you need to make the right decision for you.
What Problems Does Bankruptcy Solve?
One of the first, and most important, benefits you will receive after filing for bankruptcy is that creditors will get off your back. When you owe money, the person or company you owe has some measure of control over your life. Creditors can put pressure on you with constant phone calls, threats of garnishment and even lawsuits.
Filing for bankruptcy forces creditors to stop certain collection behaviors and exposes them to legal consequences if they continue. It moves many of these financial concerns to one process, giving you the room you need to breathe.
There are several types of bankruptcy. Most people are restricted to filing for either Chapter 7 or Chapter 13 bankruptcy. These forms of bankruptcy allow you to reorganize or eliminate your debt. In some cases, debt is simply forgiven by the court, with you owing no further duty to pay. In other cases, debts are reduced or consolidated under new terms, so you can pay them off under a single, organized plan.
Foreclosure, Repossession & Garnishment
Many of our clients are worried about losing their homes, cars or other personal property. Some are worried about having their wages garnished to the point where they can’t even afford basic living expenses. In most cases, filing for bankruptcy can stop foreclosure proceedings, sheriff’s sales, garnishment, and levies. Bankruptcy is meant to return you to a functioning financial position. It is not meant to leave you homeless and unable to earn a living.
A Financial Do-Over
Bankruptcy is the beginning, not the end. Creditors, and particularly collection agencies, may try to convince you that there is no way back from declaring bankruptcy. That is clearly not true. Filing for bankruptcy may limit your ability to borrow money for a limited time. It does not signal the end of your financial future. Bankruptcy relief can be the only way to find financial security for many.
Do I Need a Bankruptcy Lawyer?
You don’t need another person pressuring you. We believe that we make a difference for our clients. Whether or not you want an attorney to represent you may depend on your confidence in your ability to hit every deadline and complete the process exactly as instructed.
Studies have shown that people who are represented by counsel generally do better in bankruptcy than people who represent themselves. The process can be confusing. The penalties for a mistake are more severe than they should be.
If you would like to speak with an attorney to discuss your situation without obligation, we can help. To schedule a free consultation with one of our South Louisiana bankruptcy lawyers, please contact us online or call our most convenient office location.