The Law Firm of Rocky Willson provides skilled bankruptcy legal services to residents and businesses in the parishes of Central Louisiana. Whether it is a family or an individual filing for Chapter 7 or Chapter 13 or a business filing for Chapter 11, bankruptcy is often the best option for protecting what matters and providing financial help when you need it most.
Regardless of how much debt is accrued through medical costs, credit cards or other means, some still hesitate to make this difficult decision. Nevertheless, the most effective solution to this problem comes from a knowledgeable bankruptcy lawyer like Rocky Willson, who is the only certified consumer bankruptcy attorney in Central Louisiana. The Law Firm of Rocky Willson proudly serves the Rapides, Grant, LaSalles, Avoyelles, Vernon, and Natchitoches parishes in Lousiana.
Want to stop harassing phone calls by debt collectors? Contact our firm to discuss these matters in more depth than these brief overviews:
Chapter 7 bankruptcy: A trustee is appointed to take control of your property. Any property of value will be sold to pay your creditors. However, you may be able to keep some personal items and possibly real estate. If you have already filed bankruptcy under Chapter 7, you may be able to convert your case to a different chapter if it benefits your situation. You can receive a Chapter 7 discharge only once every eight years.
Chapter 13 bankruptcy: You can usually keep your property with this bankruptcy, but you must earn wages or have some other source of regular income. You must also agree to pay part of your income to your creditors. The court must approve your repayment plan and budget. A trustee is appointed and will collect the payments from you, pay your creditors and make sure you live up to the terms of your repayment plan.
Chapter 11 bankruptcy: Your business is able to stay open by setting up a plan with your creditors. In some circumstances under Subchapter V, a trustee will be appointed to take control of your business and property.
Chapter 12 - This form of bankruptcy is built for "family farmers" or "family fishermen" with "regular annual income." Family fishermen and farmers can propose to create a plan to repay all or part of their debts.
Filing bankruptcy will not eliminate your need to pay the following: most taxes, child support, alimony, most student loans and court fines, as well as criminal restitution and personal injury caused by driving drunk or under the influence of drugs.
It is important to remember that this is basic information provided as an outline to the differences in the bankruptcy chapters, as well as how they may or may not apply to your situation. Bankruptcy practice is a complicated area of the law and an attorney unfamiliar with the system might not guide you to the best options available or might even create more problems.
Call our office in Alexandria to speak with noted bankruptcy attorney Rocky Willson. We proudly serve the Rapides, Grant, LaSalles, Avoyelles, Vernon, and Natchitoches parishes in Lousiana. We can also be reached through this website’s Contact page.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.