Baton Rouge Office225-769-1414
New Orleans/Metairie Office504-831-1222

April 2018 Archives

Bankruptcy might discharge some tax debts under narrow conditions

Bankruptcy might offer relief to people overwhelmed by multiple debts in Louisiana, but tax debts often do not qualify for discharge. Bankruptcy laws, however, contain numerous exceptions to general rules, and certain circumstances could make the discharge of a tax debt possible.

Charity care from hospitals could help people avoid medical debt

People in Louisiana confronted by high medical bills should investigate whether their hospitals offer assistance to people unable to pay. Some hospitals that accept government funding have an obligation to set up charity care funds. They usually do not promote the programs, but hospitals have billions of dollars available nationwide to help people challenged by high medical costs. According to the American Hospital Association, U.S. hospitals offered $38 billion in financial assistance to patients in 2016.

Interest rate increase could mean more debt for some

According to at least one nonprofit credit counseling service, the number of people seeking help with debt has increased. Some Louisiana consumers could be among those who have mounting debt. Unfortunately, Americans have a pattern of feeling good when the economy is strong and loading up on debt that they then struggle to pay off during leaner times.

Rate hikes may make debts harder to pay

In 2017, people throughout the country added $92 billion in credit card debt. That is twice the annual average since the end of the Great Recession. For Louisiana cardholders, recent rate hike increases may have be harder to take even if the raises are only .25 point each. According to WalletHub, there have been four years in the past 30 that saw credit card debt increase by that much.