Lafayette Bankruptcy Lawyer

Bankruptcy Attorney in Lafayette, LA

When you have substantial debt that you don’t know how to address, bankruptcy may be an essential tool to reduce or eliminate your debts. You may be able to obtain a financial fresh start with the help of a Lafayette bankruptcy lawyer. The right lawyer can review your finances to determine if you qualify for different types of bankruptcy and the benefits of those options. You don’t have to deal with creditors and financial debt alone, and can get dedicated legal support.

Hire a Bankruptcy Lawyer You Can Depend On

If your debt is causing severe hardship and stress in your life, and bankruptcy seems like it could help, it is crucial that you review your case with the skilled team at Wiley & Jowers. We have a long track record of success in bankruptcy cases.

At Wiley & Jowers, we believe strongly in providing personal attention and care for each case. Our attorneys take the time to listen to your unique case and your financial circumstances. We can help you determine if bankruptcy or another form of debt relief is right for you.

With over 15 years of experience in bankruptcy cases, our firm has the knowledge needed to help you navigate the process. We have served Louisiana’s Western District for years and have professional connections with local courts. Lafayette Parish is one of three parishes served by the 15th Judicial District Court, with which we have experience. The Lafayette Parish Courthouse is located at 800 S. Buchanan Street.

New Iberia and Louisiana Western District Bankruptcy Cases

Many creditors try to make bankruptcy seem like a shameful option because these companies don’t want you to use the tools available to you to limit or clear your debt. Bankruptcy is not shameful and is instead a useful option that thousands of individuals throughout Louisiana take advantage of.

From March 31, 2024, to March 31, 2025, there were 5,724 bankruptcy cases filed in Louisiana’s Western District. 5,630 of these cases were for nonbusiness debt. 80.5% of all bankruptcy cases in the district were Chapter 13 cases. In Lafayette Parish during the same time period, there were 447 bankruptcy cases filed, including:

• 274 Chapter 13 cases
• 161 Chapter 7 cases
• 12 Chapter 11 cases

There are many reasons that you may be facing difficult and unmanageable debt, from sudden medical emergencies to financial mistakes. Like thousands of other individuals and families, you may be able to secure a fresh start by filing for bankruptcy.

What Are the Types of Bankruptcy Available in Lafayette?

There are three primary options for bankruptcy for individual and business debt. If bankruptcy is the ideal method to address your debt, a skilled attorney can help you review the benefits and drawbacks of each type of bankruptcy. This includes:

Chapter 7 Bankruptcy

Filing for Chapter 7 bankruptcy involves the liquidation of assets and is one of the more common types of consumer bankruptcy, allowing for a fresh start. If you successfully obtain a Chapter 7 bankruptcy, your nonexempt assets are liquidated and sold to pay off your debts. This can mitigate or eliminate your debts, but you may lose a large amount of assets. Some assets are exempt, like possibly your home. Other assets have a lien placed on them.

The Chapter 7 bankruptcy process generally lasts several months, and unsecured debts that are not paid off through the liquidation of assets may be discharged at the end of the process. Unsecured debts may include debts from credit cards, medical bills, and certain court judgments.

Discharged debt means it is cleared, and you are no longer responsible for the debt. However, this is only an option for individual filers of Chapter 7, and not all individual filings will end in the discharge of debt.

When you hire a bankruptcy lawyer, they can review whether you meet the low-income requirements to qualify for a Chapter 7 bankruptcy.

Chapter 11 Bankruptcy

This form of bankruptcy is for business debt. Businesses are able to file for this type of bankruptcy and restructure their debts in a repayment plan.

When filing for this type of bankruptcy, businesses submit information about their assets, debts, and other financial circumstances, as well as their plan for repaying them. The financial disclosure is reviewed by the business’s creditors to determine if the reorganization and repayment plan will be effective. The creditors can then vote on the plan. Based on these results, the court may refuse or confirm the plan.

Filing for Chapter 11 bankruptcy allows you to maintain control over your business and its operation, giving your business a new start and helping it recover.

Chapter 13 Bankruptcy

A Chapter 13 bankruptcy is one of the most common types of consumer bankruptcy. If you secure this type of bankruptcy, your debt is consolidated, and you are able to create a repayment plan to pay back all or part of your debts with your regular income.

This type of bankruptcy ensures you keep all of your assets, while giving you time to repay your debt. This bankruptcy process generally lasts three to five years. Whether you follow the three-year or five-year repayment plan largely depends on your income. Once you reach the end of the repayment period, the debts that were not paid off during the process could be discharged.

FAQs

What Are the Benefits of a Lafayette Bankruptcy Attorney?

Bankruptcy may not be the ideal option for everyone, but it can be complicated to understand the legal requirements and uses of the process. An attorney can talk you through the options for debt resolution and how bankruptcy can help based on your specific financial circumstances. They answer your questions, help you file a petition, and walk you through the entire process.

What Are the Benefits of Bankruptcy?

When you are able to lower or eliminate the debt you owe, you have more income to pay your current bills, expenses, and debts that were not cleared. While bankruptcy is ongoing, it also places an automatic stay on your debts, which prevents creditors from contacting you or engaging in collection actions like levies or wage garnishment. This can lower your stress throughout the process and help afterwards because you have fewer creditors to deal with.

Get in Contact With Wiley & Jowers

While it may feel like you have no options to deal with overwhelming debt, this isn’t the case. Contact Wiley & Jowers today to see how we can help you.