Federal bankruptcy records indicate that in the year of 2007, there have been a total of 751,056 cases of bankruptcy that were filed all across the United States of America. In the following year, this number went up sizably and there were as many a total of 967,831 cases of bankruptcy filed. These included both individuals and business organizations that filed for Louisiana federal bankruptcy. Of these, bankruptcy in Louisiana formed 1.45% of the total number. According to Louisiana bankruptcy records, there were 14,227 Louisiana bankruptcy filings.
Business plans and debts payments don't always go as planned and there may come a time when filing bankruptcy in Louisiana becomes the best course of action for yourself and your business. It is equally important to take the time to research Louisiana bankruptcy law before you begin the entire bankruptcy process. You may want to know what the process will be like and what exemptions you are entitled to.
In Louisiana, if an individual wants to file for bankruptcy, he can do so under Chapter 7 and Chapter 13 of the federal bankruptcy laws. Chapter 7 illustrates the Straight Bankruptcy law according to which one can get rid of all debts except for the ones that have been listed and can start all over again. Chapter 13 lays down the Wage Earner Bankruptcy law according to which a repayment plan is worked upon so that the debt can be cleared over a period of time. However, declaration of bankruptcy does not mean that you can steer clear of all your outstanding debts. You still have to take care of your liabilities that include child support, alimony, student loans, and fraudulent debts.
According to Louisiana bankruptcy laws, there are certain Louisiana bankruptcy exemptions. Even if you are bankrupt, you can still retain your motor vehicle worth $7,500, land and property worth $25,000, group insurance policies, family portraits, a utility trailer, proceeds from life insurance, a firearm worth $500, family pets, wedding rings worth $5000, property that has been designated for burial purposes, arms and military accoutrements and musical instruments.
The section of the bankruptcy code that makes a bankruptcy case public is under Section 107. The Bankruptcy records of Louisiana are made public so that anyone can access them. In some instances, prospective employers look through bankruptcy records of a potential employee. These records are also accessible through the bankruptcy courts websites. They usually include the name of the person and the bankruptcy that they filed for. The social security number, bank bill information, residential addresses can also be found in the bankruptcy records. There are also specific details about the individual's family, and employment history. The records are helpful if you are curious about the individual's financial history.
When the records are accessed, it is usually for acquiring information on the financial state of an individual. Companies normally carry this out for their credit purposes. Since records are available online, the risk of fraudsters can easily take advantage of the situation. They are capable of committing identity fraud.
According to the available Louisiana bankruptcy records, the total number of cases filed in the year of 2002 were 27,133. Of these 26,461 were individual consumers while the remaining 672 were business establishments that had filed for bankruptcy in Louisiana. If one goes by the district Louisiana bankruptcy records then the numbers of cases filed in the western district were 439 in comparison to those in the eastern district of 165. These were all filed under Chapter 7, 11, 12 and 13.
You can access information required for filing for bankruptcy in Louisiana by browsing through the online records of Louisiana bankruptcy court. You can also refer to the Public Access to Court Electronic Records or PACER for cases related information.
The state of Louisiana is divided into three individual districts and each has its respective bankruptcy court and court offices. The office of the Eastern district of Louisiana is located at New Orleans. The Middle District of Louisiana that has the least number of bankruptcies cases, as per Louisiana bankruptcy records, and has its office at Baton Rouge. The Western district of Louisiana has several Louisiana Bankruptcy Centers and these are located at Monroe, Alexandria, Shreveport, Lafayette and Lake Charles. For filing bankruptcy in Louisiana, you need to search for efficient bankruptcy lawyers in Louisiana.
Verify Louisiana Bankruptcy Records Online
Bankruptcy court records of Louisiana, as already mentioned are considered to be public records and can be easily accessed by the general public. It is credited to modernization and the Internet; you will see that these court records are now available for access online.
By just visiting the public court records website of a particular state, you will be able to access bankruptcy records. Here, everything will be recorded, such as why the company filed for bankruptcy, how it paid off its debts and other information that is crucial for businesses in deciding when entering a deal with a particular company.Exhaust free sources of information before you consider paying for Louisiana court records. Sites that charge a fee may only provide information you could obtain elsewhere for free. Fortunately, libraries frequently subscribe to services that you would normally need to pay a fee to access. You should also bear in mind that many Louisiana detailed records are simply not available online.
If you are a resident of Phoenix, you need to search for Phoenix Louisiana Bankruptcy records online. This way you can retrieve all essential information about Louisiana bankruptcy attorneys and states bankruptcy court Louisiana records. The data available is authentic and therefore you can rely on them for the details of Louisiana bankruptcy.
It is the New Orleans Office of Louisiana Eastern District Court that had recorded the latest of such cases in the state. The case of plaintiff Joshua Felix, Jr. and the defendant Betty Felix with the trustee S. J. Beaulieu, Jr. was listed as recent as September 11, 2009 with file number 2:2009cv06262 and currently is under the supervising Judge Ivan L. R. Lemelle. Magistrate Judge Sally Shushan referred the case.
The Bankruptcy Records search of Louisiana assists in identifying all filings of bankruptcy by an individual or business enterprise. The Bankruptcy records search is highly recommended for accounting, managerial or executive positions. In addition, Bankruptcy Records are an important search to use when dealing with contractors, business partners and outsourcing companies.