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Louisiana Bankruptcy Forms

Louisiana Bankruptcy Forms

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Video instructions and help with filling out and completing Louisiana Bankruptcy Forms

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Instructions and help about Louisiana Bankruptcy Forms

What are the different types of the most common bankruptcies that can be filed? This depends upon whether it's an individual filing or a business filing. So, a business can file a chapter 7 or chapter 11 ⁠— those are the most common for businesses, and I’ll go over those in a minute. An individual can file a chapter 7, a chapter 13, and in some cases, they will file a chapter 11. Now chapter seven is a complete liquidation. It's one of the quicker and simpler processes in bankruptcy where you basically liquidate any assets or sell off any potential assets to pay whatever debts you have and then you're done. You get what's called a discharge meaning you're no longer liable for certain debts. That can be used by a business that's closing down and shutting its doors or by an individual who applies certain exemptions to keep some assets, but doesn't have a lot of other assets to be able to pay creditors with. A chapter 13 is onl

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