When I meet with a married couple that are considering a Chapter 7 bankruptcy, one major consideration that needs to be addressed is whether or not to file for both, or only one of the spouses. I practice in Louisiana. Louisiana is a community property state. This means that all the assets acquired after the [...]
Louisiana
A change in the Median Family Income used to determine eligibility to file a bankruptcy changes on November 1, 2009. The Median Family Income for Louisiana beginning November 1, 2009 is as follows: One Person: $37,464.00 Two Persons: $48,287.00 Three Persons: $53,461.00 Four Persons: $66,256.00 For each additional person in the household and additional $6,900.00 is allowed.
Shortly after Hurricane Katrina hit the Louisiana and Mississippi Gulf Coasts in August of 2005 and Hurricane Rita hit the Gulf Coast of Louisiana, it was suggested by many that the citizens of the Gulf Coast region should not be subject to the provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA). With [...]
