Monroe Louisiana Chapter 7 Bankruptcy Lawyers

Chapter 7 Bankruptcy Lawyers in Monroe, Louisiana

Campbell, House, & Company are Chapter 7 bankruptcy lawyers in the state of Louisiana who work with clients who need to file for bankruptcy. If you are struggling under the weight of high debts that you cannot pay, are facing phone calls from collection agencies, find yourself being threatened with wage garnishment, or have questions about whether bankruptcy may be able to give you a clean start, reach out to the Chapter 7 bankruptcy lawyers in the state of Louisiana at Campbell, House, & Company today.

Bankruptcy isn’t right for everyone, and filing for bankruptcy can have serious consequences for your credit, your finances, and more. So, before you file for bankruptcy, consider reaching out to the Chapter 7 bankruptcy attorney at Campbell, House, & Company.

What is Chapter 7 Bankruptcy?

With Chapter 7 bankruptcy, a person known as a trustee, reviews your income, assets, debts, and finances. In order to file for Chapter 7 bankruptcy, you must pass the means test. Basically, you need to show that you earn under the median income in Louisiana. These standards can change year to year and with your family size, so if you have questions about whether you are low-income enough to pass the means test, you may want to speak to the Chapter 7 bankruptcy lawyers at Campbell, House, & Company in the state of Louisiana. Even if your income is higher than the median, you may have other bankruptcy options.

There is some property and assets you may be allowed to keep under Chapter 7 bankruptcy. Many people think you’ll lose everything if you file for Chapter 7 bankruptcy. This is not true. You may be able to keep your home, a vehicle, certain household goods, wedding rings, tools you use for your job, retirement accounts, life insurance, and other exempt items. However, you may not be able to keep your home with Chapter 13 bankruptcy if you own it, and its value is higher than the exempted amount. When it comes to figuring out what you can and cannot keep with Chapter 7 bankruptcy, you may want to speak to your Chapter 7 bankruptcy lawyer at Campbell, House, & Company in the state of Louisiana.

In general, Chapter 7 bankruptcy is the best option for people who earn a low-income and who do not own a home or other major assets. If you own a car, but the car isn’t very valuable, Chapter 7 bankruptcy may still be an option for you. Not sure about whether Chapter 7 bankruptcy is right for you? Not sure about what Chapter 7 bankruptcy means for your financial life and future? Reach out to Campbell, House, & Company, Chapter 7 bankruptcy lawyers in the state of Louisiana today to learn more.

Chapter 7 Bankruptcy vs. Chapter 13 Bankruptcy

Chapter 7 bankruptcy differs from Chapter 13 bankruptcy in many ways. With Chapter 7 bankruptcy, you will be required to sell all nonexempt property to pay off your debts before the other remaining debts are discharged. If you don’t own much, you may not be required to sell anything. But even if you do own some property, Chapter 7 may still be your best option, especially if you owe quite a bit. Chapter 13 bankruptcy is a little different. Your debts aren’t discharged right away. Instead, you are put on a payment plan. Chapter 13 bankruptcy may allow you to keep your home or your vehicle, as long as you keep up with the payment plan. At the end of the payment plan, remaining debts may be discharged. With Chapter 7 bankruptcy, you must pass the means test, which basically means your income must be below the median for your family size. With Chapter 13, your debt must be under a certain amount, and you must be able to pay debtors the value of your unexempt assets.

It can be complicated knowing which type of bankruptcy you should choose. It can also be difficult to know whether bankruptcy is right for you in the first place. It may not be the right choice for everyone and it can have major consequences for your financial future. If you have questions about the type of bankruptcy you can pursue and your options, reach out to Campbell, House, & Company, Chapter 7 bankruptcy lawyers in the state of Louisiana. We are here to help you every step of the way.

Contact a Chapter 7 Bankruptcy Lawyer in the State of Louisiana Today

The Chapter 7 bankruptcy lawyers at Campbell, House, & Company in the state of Louisiana, may be able to assist you with your case if you are considering filing for bankruptcy. The burden of not being able to pay your debts can be stressful. You are not alone. Campbell, House, & Company may be able to help you.

Our Team

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G. MENNON CAMPBELL, JR., is a former Assistant District Attorney in the Fourth Judicial District of Ouachita Parish, Louisiana. Born and raised in Monroe, Louisiana, he earned his Bachelor of Science degree in Aviation from the University of Louisiana at Monroe. He obtained his Juris Doctorate and diploma from the Mississippi College School of Law in 2008.

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G. MENNON CAMPBELL, JR.

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WADE L. HOUSE, is a native of Oak Grove, Louisiana. He graduated in 2006 with a Bachelor of Science degree in Criminal Justice from the University of Louisiana at Monroe. He earned his Juris Doctorate degree from Southern University Law Center in 2010 as a Magna Cum Laude graduate.

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WADE L. HOUSE

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