Chapter 7 Bankruptcy: How does it work? Chapter 7 bankruptcy, also referred to as liquidation bankruptcy, involves the process where a bankruptcy trustee collects and sells the debtor’s non-exempt assets, essentially “liquidating” them. The resulting proceeds from these sales are then allocated towards settling the debtor’s outstanding debts. Following the conclusion of the bankruptcy case, the Court will grant a discharge to the debtor, absolving them of further liability for the majority of their existing unsecured debts. In a Chapter 7 bankruptcy, the trustee’s authority to sell property is confined to assets that are not exempt from the process, rather than encompassing all the debtor’s assets. The Bankruptcy Code outlines a set of federal exemptions; however, it empowers individual states to establish their own lists of exemptions and determine which one resident can utilize. In some cases, certain states have chosen to forego the federal exemptions, obliging debtors to adhere to the state-specific exemption list. Conversely, other states afford debtors the flexibility to opt for either the federal or state exemptions. Cost to file chapter 7 in Louisiana The chapter 7 filing fees in Louisiana are $338, but that doesn’t tell the whole story of the real cost to file bankruptcy. Bankruptcy lawyers usually charge between $1,000 and $2,000 to file a chapter 7 case, in addition to the filing fee. Where are the Louisiana bankruptcy courts located? When are considering filing bankruptcy, you already have more than enough stress in your life. In order to make the process as smooth as possible and keep all the property to which you are entitled, it is smart to consult with a Louisiana bankruptcy attorney. If you are not sure whether or not bankruptcy is your best option, don’t hesitate to call. A good attorney may be able to help you find another way out of your financial troubles. If you do decide to file Chapter 7 bankruptcy in Louisiana, it’s important to know where you’ll file. Your attorney can also advise you of the entire process including how to file, getting a discharge, and rebuilding your credit after bankruptcy. Louisiana has three bankruptcy court districts: Eastern, Middle, and Western. We’ve provided website links and phone numbers below. Louisiana Eastern District New Orleans: U.S. Bankruptcy Court, 500 Poydras St., Suite B-601, New Orleans, LA 70130, Phone: 504-589-7878 Louisiana Middle Bankruptcy Court Baton Rouge: U.S. Bankruptcy Court, 707 Florida St., Room 119, Baton Rouge, LA 70801, Phone: 225-346-3333 Louisiana Western Bankruptcy Court Alexandria: U.S. Courthouse, 300 Jackson St., Suite 116, Alexandria, LA 71301, Phone: 318-445-1890 Lake Charles: U.S. Courthouse, 611 Broad St., First Floor, Lake Charles, LA 70601, Phone: 337-262-6800 (unmanned office; contact Lafayette office for information) Monroe: U.S. Courthouse, 201 Jackson St., Monroe, LA . 71201, Phone: 318-676-4267 (unmanned office; contact Shreveport office for information) Lafayette: U.S. Courthouse, 214 Jefferson St., Suite 100, Lafayette, LA 70501, Phone: 337-262-6800 Shreveport: U.S. Courthouse, 300 Fannin St., Suite 2201, Shreveport, LA 71101, Phone: 318-676-4267 FacebookPinTweetEmail National Bankruptcy Forum Help us match you with a local attorney Free Bankruptcy Evaluation "*" indicates required fields First Name* Last Name* Phone* Email* Δ Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Save my name, email, and website in this browser for the next time I comment. Δ
Chapter 7 Bankruptcy: How does it work? Chapter 7 bankruptcy, also referred to as liquidation bankruptcy, involves the process where a bankruptcy trustee collects and sells the debtor’s non-exempt assets, essentially “liquidating” them. The resulting proceeds from these sales are then allocated towards settling the debtor’s outstanding debts. Following the conclusion of the bankruptcy case, the Court will grant a discharge to the debtor, absolving them of further liability for the majority of their existing unsecured debts. In a Chapter 7 bankruptcy, the trustee’s authority to sell property is confined to assets that are not exempt from the process, rather than encompassing all the debtor’s assets. The Bankruptcy Code outlines a set of federal exemptions; however, it empowers individual states to establish their own lists of exemptions and determine which one resident can utilize. In some cases, certain states have chosen to forego the federal exemptions, obliging debtors to adhere to the state-specific exemption list. Conversely, other states afford debtors the flexibility to opt for either the federal or state exemptions. Cost to file chapter 7 in Louisiana The chapter 7 filing fees in Louisiana are $338, but that doesn’t tell the whole story of the real cost to file bankruptcy. Bankruptcy lawyers usually charge between $1,000 and $2,000 to file a chapter 7 case, in addition to the filing fee. Where are the Louisiana bankruptcy courts located? When are considering filing bankruptcy, you already have more than enough stress in your life. In order to make the process as smooth as possible and keep all the property to which you are entitled, it is smart to consult with a Louisiana bankruptcy attorney. If you are not sure whether or not bankruptcy is your best option, don’t hesitate to call. A good attorney may be able to help you find another way out of your financial troubles. If you do decide to file Chapter 7 bankruptcy in Louisiana, it’s important to know where you’ll file. Your attorney can also advise you of the entire process including how to file, getting a discharge, and rebuilding your credit after bankruptcy. Louisiana has three bankruptcy court districts: Eastern, Middle, and Western. We’ve provided website links and phone numbers below. Louisiana Eastern District New Orleans: U.S. Bankruptcy Court, 500 Poydras St., Suite B-601, New Orleans, LA 70130, Phone: 504-589-7878 Louisiana Middle Bankruptcy Court Baton Rouge: U.S. Bankruptcy Court, 707 Florida St., Room 119, Baton Rouge, LA 70801, Phone: 225-346-3333 Louisiana Western Bankruptcy Court Alexandria: U.S. Courthouse, 300 Jackson St., Suite 116, Alexandria, LA 71301, Phone: 318-445-1890 Lake Charles: U.S. Courthouse, 611 Broad St., First Floor, Lake Charles, LA 70601, Phone: 337-262-6800 (unmanned office; contact Lafayette office for information) Monroe: U.S. Courthouse, 201 Jackson St., Monroe, LA . 71201, Phone: 318-676-4267 (unmanned office; contact Shreveport office for information) Lafayette: U.S. Courthouse, 214 Jefferson St., Suite 100, Lafayette, LA 70501, Phone: 337-262-6800 Shreveport: U.S. Courthouse, 300 Fannin St., Suite 2201, Shreveport, LA 71101, Phone: 318-676-4267