Louisiana bankruptcy information, including Chapter 7, Chapter 13, debt relief, creditor issues, and financial considerations.
What Is Subchapter V Bankruptcy, and Does My Small Business Qualify? Subchapter V is a streamlined form of Chapter 11 designed for qualifying small-business debtors. It can allow a business to keep operating while restructuring debt through a court-approved plan. For cases filed on or after April 1, 2025, the applicable aggregate debt ceiling is
What Is Subchapter V Bankruptcy, and Does My Small Business Qualify? Read More »
Can a Small Business Continue Operating During Chapter 11? Yes. In many Chapter 11 cases, a small business can continue operating while it reorganizes. The business usually remains in control as a “debtor in possession,” but its operations are subject to the Bankruptcy Code, court orders, creditor rights, and oversight by the United States Trustee.
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Chapter 7 and Chapter 13 are the two bankruptcy chapters most often considered by individuals. Both are federal court proceedings, but they address debt in different ways. The appropriate chapter depends on income, property, secured debts, recent financial activity, prior cases, and the goals a person is trying to accomplish. This overview explains several practical
Chapter 7 vs. Chapter 13 Bankruptcy in Louisiana: Key Differences to Understand Read More »
A federal indictment reported by the U.S. Attorney’s Office for the Western District of Louisiana illustrates why complete and accurate bankruptcy disclosures matter. The matter also shows how conduct arising in a bankruptcy case can create potential white-collar exposure. What the government alleged According to the government’s charging announcement, a federal grand jury accused an
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A productive bankruptcy consultation begins with an accurate picture of income, expenses, property, debts, and recent financial activity. Organizing that information in advance can help counsel identify questions, compare available options, and explain what additional records may be needed. Start with a complete debt list Gather recent statements and collection notices for credit cards, medical
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