How a Shreveport-Bossier Bankruptcy Lawyer Can Help You and Your Family Regain Control of Your Finances and Move Forward
Over the years, bankruptcy somehow acquired a stigma it did not deserve. Because many people did not understand how bankruptcy truly works, it was seen as an absolute last resort or desperate measure. In today’s economy, however, bankruptcy has emerged as a reliable and trusted method to help individuals and businesses reorganize debt and build a solid financial future.
Whether delinquency notices are piling up or you have simply noticed that your bank accounts are lower than you are accustomed to, filing for Chapter 7 or Chapter 13 bankruptcy in Louisiana may be a viable option for you. You work hard to make ends meet, but sometimes that still is not enough—which is why bankruptcy could be the best thing that could happen to you.
Bankruptcy: Why It May Be the Right Option for You
Many people have different “red flags” that alert them to a potential financial problem. For some, things may feel uncomfortable as soon as funds in their savings account start dwindling. For others, it may be when creditors begin calling. Regardless of what alerted you to your situation, one thing remains constant—the overwhelming stress and concern that goes hand-in-hand with money problems.
The current economic state of our country has forced numerous families and businesses to reevaluate their expenses and budget. Basic costs of living—such as food, gasoline, and healthcare—have skyrocketed, causing already tight belts to tighten further. Several of the most common reasons that people seek the assistance of a Louisiana bankruptcy attorney include:
- Home Foreclosure: These words strike fear in the hearts of families who are struggling to pay their bills. It is difficult enough facing the endless calls from banks and creditors and then to find out you may lose your home. You have now entered the Home Foreclosure Danger Zone.
- Wage garnishment: Once a creditor gets a default judgment, he can use it to have your wages garnished. Your ability to stop the garnishment and to recover your garnished wages by filing bankruptcy can be severely impacted by how long you wait to file and initiate recovery.
- Credit Cards: One of the most common headaches people face is their credit card debt. Many people see their interest rates or monthly payments rise as they get behind in payments, while others use several different credit cards to pay off other credit card debt. This can turn into an endless cycle that is difficult to escape alone.
- Household Expenses: As home or car payments fall behind, many individuals find themselves using all available funds to pay their bills with little left over. In that situation, saving money can feel impossible, which puts any future expenses—such as retirement or medical care—at risk.
- Creditors: If you are in financial trouble, you are likely already incredibly concerned and overwhelmed. When banks and creditors begin calling nonstop at your home or work, it can be challenging to keep from panicking.
- Personal Life: Financial trouble does not just affect your bank statements. It can also wreak havoc on your personal life. If your personal relationships are suffering and you are losing sleep over your finances, it is time to seek guidance.
Robert Raley Law: A Shreveport & Bossier Bankruptcy Law Firm Dedicated to Bringing You Peace of Mind
You do not have to face overwhelming credit card debt, possible foreclosure, or creditors alone. At Robert Raley Law—the Shreveport-Bossier area bankruptcy law firm—Robert Raley and his associates have helped thousands of clients in northern Louisiana free themselves from the never-ending cycle of debt. Dedicated wholly to the practice of bankruptcy law, Robert Raley Law takes great pride in providing personalized representation along with the warmth and respect that you deserve.
Sometimes bankruptcy is the right option for you, and sometimes it isn’t. When you meet with Robert Raley and his team, they will work closely with you to find the best option for you and your needs. If you are facing credit card debt in Louisiana, or are worried about losing your home, car, or retirement savings or your wages being garnished, contact Robert Raley Law today at 318-747-2230 for your free consultation. Peace of mind—and a stable financial future—is just a phone call away.
A Chapter 7 bankruptcy, also known as a liquidation or fresh start bankruptcy, helps people erase certain types of debt and regain control of their financial situation. If you are in the Shreveport area and your debt is becoming unmanageable, read more to find out whether this type of bankruptcy is right for you.
The current economy has seen people just like you struggling to repay debt, while creditors profit off of your hardship. A Chapter 13 bill consolidation bankruptcy can help lift pressure from financial institutions, while allowing you to consolidate your debts and schedule payments over a specified amount of time. Visit this page to learn more about filing for Louisiana Chapter 13 bankruptcy.