Will you still be able to file?

Most Louisiana residents will still be able to file under Chapter 7.  What you hear in the media is not exactly legal advice!  Your case is dependant on the facts that apply.  The new law tightens up a lot of the Bankruptcy Code,  but whether it effects you depends on a lot of particular facts,  including:

       IS YOUR INCOME OVER THE "STATE MEDIAN INCOME" FOR LOUISIANA?

We call this the "means test".   If people are making too much money,  Congress wants them to get into a Chapter 13 Plan, which is still Bankruptcy, but includes a payment of something to your creditors.   The Census publishes "Median Income" statistics.  We will have to use your income for the last six months and if it is UNDER the Median you can still file Chapter 7:

For example, 

These are actual recent numbers for Louisiana.   The new law says for a family of more than four we will use the "4 person" figure of $51,325 plus around $525 per person over 4,  so if you are in a family of six, its $51,325,   plus 2 x 525.   Under that number and you can probably still file Chapter 7.  Over that number and you will need some specific legal advice.   If you have $100 a month in disposable income you may be pushed toward Chapter 13.

   FINAL ANSWER - Yes, everybody can still file Bankruptcy.  Some people who make more than the median income of Louisiana will have to file a Chapter 13 and set up a plan to pay something on debts - but that is still a type of Bankruptcy, and still does not require you to pay 100% of your unsecured debts.  So do consult a Bankruptcy practitioner to determine what this means for you.  YOUR CASE IS SPECIAL and so you shouldn't take advice of make decisions without special consideration of your facts and professional advice!

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THE U.S. Congress and President Bush have authorized us by law to state that as to our Bankruptcy Work at this Law Firm, WE ARE A DEBT RELIEF AGENCY. WE HELP PEOPLE FILE FOR BANKRUPTCY RELIEF UNDER THE BANKRUPTCY CODE.