According to tabulations by the American Bankruptcy Institute (ABI), bankruptcy filings in 2022 in Louisiana increased nine percent, which was the highest rate nationwide. There was a total of 1,613 bankruptcies, with 24 percent of them Chapter 7 and 75 percent Chapter 13. The remaining one percent was for Chapter 11.

Bankruptcy can very often be the best way of addressing your IRS and tax debt problems. Both Chapters of consumer bankruptcy (Chapter 13 and Chapter 7)

Missing a mortgage payment is often unavoidable. You are shuffling payments around to try and stay afloat, but there just isn’t enough money to cover all of your payments in any given month.

In Louisiana, when a creditor gets a judgment against you, they can then ask the court for permission to begin garnishing your paycheck. Creditors can garnish up to 25% of your paycheck after standard deductions.