St. Martinville Chapter 7 Lawyer

Chapter 7 Attorney in St. Martinville, LA

When debt becomes too much to manage, filing for bankruptcy can be a clear way forward. Any number of extenuating circumstances can lead to accumulating debt, including divorce, job loss, medical bills, and other unexpected challenges. Federal Chapter 7 laws allow Louisianans to manage serious debts and get back on the right track. If you’re facing a potential bankruptcy, a St. Martinville Chapter 7 lawyer can help you through the process.

If you’re searching for a trusted law firm in St. Martinville, look no further than Wiley & Jowers. Our team brings decades of real-world experience to the table that we’re ready to put to work for you. We’re deeply familiar with Chapter 7 laws and have dedicated ourselves to supporting Louisianans throughout New Iberia and surrounding communities. You can count on us to educate you and help you understand your options for managing your debt.

Chapter 7 Cases in St. Martinville

Louisiana, much like the rest of the country, has been reporting an increase in bankruptcy filings in recent years. In 2023 alone, there were 8,371 bankruptcy filings in Louisiana, including 1,889 Chapter 7 bankruptcies. Under Chapter 7 bankruptcy, also known as liquidation bankruptcy, the debtor gives up assets in order to pay creditors back. While this can be a useful way to get rid of some debt, you may lose significant assets in the process.

You can expect a trustee to collect all assets and sell any that are not exempt. The proceeds are then distributed to any eligible creditors. The trustee takes a percentage, too, for overseeing the distribution. This type of bankruptcy is typically helpful for debtors with a large amount of credit card debt or other unsecured debt.

About Our St. Martinville Chapter 7 Lawyers

Chapter 7 cases are generally complicated to navigate—especially when attempting to do so on your own. It’s recommended that you work with a St. Martinville Chapter 7 lawyer to help you understand how to file and navigate the process that follows. Our skilled attorneys at Wiley & Jowers offer personalized solutions to help our clients get a new start.

With dedicated legal counsel on your side, you can form a solid plan for your future. We’ve helped countless clients in the past, earning their trust as well as many 5-star ratings on Google. While we can’t guarantee future results based on past cases, you can rest assured you’re working with a trusted law firm that is committed to helping you through your case.

Our team works with individuals, businesses, corporations, and partnerships throughout New Iberia and across Acadiana. We can help you gather the right information, file the petition, and guide you through each stage of the process.

FAQs About St. Martinville, LA Chapter 7 Laws

What Types of Bankruptcy Are Recognized in Louisiana?

There are several types of bankruptcy recognized in Louisiana, including Chapter 7, 13, 11, and 12. Chapter 7 involves liquidating assets. Chapter 13 is also called “debt adjustment.” The debtor can make a plan to pay off a portion of the debt from the income they earn over time.

Chapter 11, known as “debt reorganization,” is ideal for businesses or business owners with large debts because it minimizes disruption to business operations. Chapter 12 is solely for family farmers.

What Are the Requirements for Filing for Chapter 7 Bankruptcy in St. Martinville?

There are a handful of requirements for filing for Chapter 7 in St. Martinville. For starters, you must complete a credit counseling course from an approved agency prior to filing and pass the means test.

You must file all required documents within 14 days of filing. You also must provide your trustee with a copy of your federal tax return before your Meeting of Creditors. It’s wise to hire a Chapter 7 lawyer to help with your case.

What Assets Are Exempt From Chapter 7 Bankruptcy in St. Martinville?

What assets are exempt from Chapter 7 bankruptcy in St. Martinville ultimately depends on the assets you own. Certain assets in Louisiana are exempt up to specific amounts. Filers in Louisiana use state-specific exemptions, including:

• Deposit accounts
• Education savings accounts
• Homestead
• Insurance benefits
• Pensions and retirement benefits
• Personal property
• Property for a cemetery plot and burial funds
• Public assistance
• Unemployment compensation
• Veterans’ benefits
• Wages
• Workers’ comp

Can I File Chapter 7 Bankruptcy for Any Type of Debt in St. Martinville?

No, you cannot file Chapter 7 bankruptcy for any type of debt in St. Martinsville. There are certain bets that cannot be discharged, including:

• Child support
• Civil or criminal fines and penalties
• Debts not listed in the bankruptcy paperwork
• Fraudulent debts
• Personal injury or wrongful death debts
• Recent income tax debts
• Spousal support
• Student loans

There are other debts that can be declared non-dischargeable if a creditor challenges the request.

Hire a Chapter 7 Lawyer in St. Martinville to Discuss Your Options for Your Case

If you’re dealing with significant debt and are searching for a better way forward, consider filing for bankruptcy. Whether you’re dealing with personal debt or business debt, a St. Martinville Chapter 7 lawyer can help you navigate your case and work with you on a personalized solution to your financial problems.

Our team at Wiley & Jowers has over a decade and a half of experience navigating Chapter 7 cases in Louisiana. We’re familiar with handling matters through the United States Bankruptcy Court for the Western District of Louisiana, and we have a long-standing record of successful cases for past clients. Past results do not guarantee future case results.

If you’re ready to discuss your case in more detail, turn to a trusted law firm like Wiley & Jowers. You can contact the office to set up an initial appointment with a member of our team to learn more about how we can help you. Our office is located in New Iberia. Find us on S. Weeks Street near the Bayou Teche.