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December 2018 Archives

Debt increases but it may not be a bad thing

Louisiana residents have contributed to the nearly $4 trillion in debt that Americans owe collectively. About $1 trillion of that debt is attributed to credit cards with another $2.93 trillion from other debts such as auto and student loans. Mortgage balances are not considered to be part of the $3.93 trillion figure. According to LendingTree, credit card balances are expected to increase by 5 percent through the end of 2018, which could bring that number right to the $4 trillion mark.

Time restrictions on multiple bankruptcy filings

Filing for bankruptcy is often thought of as a one-time thing, and most filers believe they'll never have to file again after their first bankruptcy is finalized. For some people in Louisiana, though, more than one filing might be necessary during the course of their lives. Technically, there is no restriction on the number of times an individual can file for bankruptcy protection, but there are restrictions placed on when subsequent bankruptcies can be filed. The applicable time period varies based on the types of bankruptcy involved.