Business & Finance Bankruptcy

How to File for Bankruptcy in Louisiana

    • 1). Collate the reason you are filing for bankruptcy. These reasons are important not only because of the future ventures you will take on and for the purpose of self-exploration, but are exact factors you will have to list as reasons for declaring bankruptcy. Consider the fact whether you are filing for individual or a company bankruptcy, and make sure to consult with both your accountant and lawyer about the best choice and solution.

    • 2). Check the specific rules for your district of Louisiana, since each has slightly different regulations regarding filing for bankruptcy. In some districts, for example, it is recommendable to file online, while in some it is mandatory.

    • 3). Pass the means test in order to see if you are eligible to file for Chapter 7 bankruptcy in Louisiana. You can do the test online before making it official. If you don't pass the test for a Chapter 7 bankruptcy, in Louisiana there is another option and that is Chapter 13 bankruptcy.

    • 4). Fill out the documents for bankruptcy declaration online. Make sure to choose the right kind of documents, based on the test you passed. In most districts of Louisiana, the electronic way is the preferred method of filing for bankruptcy.

    • 5). Pay the fee for filing for bankruptcy, otherwise your case will be dismissed. You can pay the required fee online as well. Note that in some parts of Louisiana, you have 10 days to make the payment while in others it is possible to apply for a waiver.

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