According to statistics compiled by Epiq Bankruptcy, the leading U.S. supplier of bankruptcy statistics, data provided by the United States Courts showed that bankruptcies declined nationwide by 6.3 percent in 2022 from 2021.

According to a 2019 report by Northwestern University, one in every 100 workers has had their wages garnished at some point, resulting in an average loss of 11% of their gross earnings.

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.

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.

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)

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.