Filing Bankruptcy in Shreveport, Louisiana

Collect Your Shreveport Bankruptcy Documents

The first thing you will find out about a Chapter 7 bankruptcy in Shreveport is that it involves a lot of paperwork. You can make this process a lot easier by getting your papers organized at the beginning. Start by getting together pay stubs and bank statements from the past 6 months. You’ll also need your most recent federal tax return. If you can’t find it, you can ask the IRS for a copy. When you fill out your Shreveport bankruptcy forms, you need to list everyone you owe money to. Even if you haven’t kept track of these accounts, they’re listed on your credit report. If you ask for a copy of your credit reports, you’ll have this information at your fingertips.

Take Credit Counseling

Everyone filing bankruptcy in Shreveport needs to take a credit counseling class. Make sure the class provider is approved by the Western District of Louisiana, so you get credit for your time! Most people will take the class online or over the phone. Unfortunately, there are no companies based in Shreveport, but MMI has a location in Bossier City. Your first credit counseling class costs around $10 - $50. The class helps you figure out if a Louisiana bankruptcy is the right option for you. You can finish in an afternoon or evening. After finishing, you will get a certificate that you need to include when you file your bankruptcy forms. The certificate is valid for 180 days.

Complete the Bankruptcy Forms

You’d probably rather spend time at Splash Kingdom Waterpark than filling out the paperwork needed for your Louisiana bankruptcy case. These forms can be complicated and difficult to understand. This is why many people decide to hire a local bankruptcy lawyer or ask Upsolve for help. If you are working through these forms by yourself, tackle them one by one. Use the documents you collected earlier to help. Be honest and specific. This isn’t the time to guess or gamble. You need to give the Louisiana Bankruptcy Court your entire financial picture. This will let you complete your Chapter 7 bankruptcy in Shreveport successfully and on time so you can move on with your life sooner rather than later.

Get Your Filing Fee

Filing a Chapter 7 bankruptcy in Shreveport costs $338. You can pay this as a lump sum upfront or you can ask the Court for an installment plan. This is broken into three monthly payments of $112, 112, and $111. If you can put together the full amount ahead of time, it’s better to pay at once. If you miss even one installment, your case can be thrown out without a refund. You should pay with a money order or cashier’s check made out to “US Bankruptcy Court.” If your household income is less than 150% of the federal poverty guidelines, you can ask the Louisiana Bankruptcy Court for a fee waiver. You need to fill out one more form, using information from your other Shreveport bankruptcy forms.

Print Your Bankruptcy Forms

After you’ve finished the Shreveport bankruptcy forms, you need to print them out and sign them. You’ll need to print everything on regular 8.5 x 11” letter paper. Make sure that you print everything single-sided and, if possible, print two copies of everything. You’ll give one to the clerk to keep. The clerk will stamp the other copy, which you’ll keep for your records. If you don’t have a printer, you can print your forms at the Shreve Memorial Library. Print shops like FedEx/Kinkos or Office Depot can also help you out. Double-check to make sure you have all the bankruptcy forms and your credit-counseling certificate before you head to the courthouse to file Chapter 7 bankruptcy in Shreveport.

Go to Court to File Your Forms

Once you complete and print your Shreveport bankruptcy forms, you need to submit them to the Court. It’s a good idea to go in person because the clerk can make sure you have everything you need. You don’t want your papers returned because you forgot a signature! The Western District’s courthouse is:

Tom Stagg United States Court House

300 Fannin Street

Suite 2201

Shreveport, LA 71101

The Shreveport Bankruptcy Courthouse is open 8 a.m. to 5 p.m., Monday through Friday, but make sure to get there before the lobby closes at 4 p.m. Everyone needs to go through building security. Bring your photo ID and leave knives or guns behind because this is a federal building. If you have questions, you can call the courthouse toll free at (866) 721-2105.

Mail Documents to Your Trustee

After filing bankruptcy in Shreveport, the Court will assign a Trustee to oversee your case. The Trustee isn’t your attorney. Instead, they administer the case to make sure all the Louisiana bankruptcy rules are followed. The Trustee makes sure everything you filed is complete and accurate. Pay attention to any communication, such as a letter or email, from your Trustee. They may ask you for additional financial paperwork, like your pay stubs or more information about certain loans. You need to send these documents to the Trustee, along with your most recent federal income tax return, so they receive it at least a week before your 341 meeting. 

Take Bankruptcy Course 2

You need to take a second bankruptcy class before your Louisiana bankruptcy case is over. This class talks about making healthy financial choices moving forward. Now that you have a fresh start, you should take advantage of the opportunity to learn about financial management, and not just view this as one more box to check before getting your discharge. This class talks about creating and sticking to a budget, setting short- and long-term goals, and keeping accurate financial records. You can take the class online, over the phone, or in-person with MMI in Bossier City, as long as the provider you ultimately choose is approved for Shreveport bankruptcy cases. This course costs around $50. Give yourself an afternoon or evening to finish the class. You’ll get a certificate of completion, which has to be submitted to the Court before your discharge can be entered.

Attend Your 341 Meeting

The only time you need to go to Court as part of your Shreveport bankruptcy is for your 341 meeting. This is usually about 30 days after filing bankruptcy in Shreveport. The Court will send you a notice of the date and time. This meeting is sometimes called a “meeting of creditors,” but usually creditors don’t come. When you go, bring your government-issued photo ID and original social security card. This lets the Louisiana bankruptcy Trustee verify your identity. You should also bring a copy of your bankruptcy paperwork, recent paystubs, and your most recent federal income tax return. You’ll meet the Trustee and other people who filed Chapter 7 bankruptcy in Shreveport in a conference room inside the courthouse. The Trustee will talk to you for a few minutes and might ask you about how you paid for your house or car. Don’t be nervous. This part is usually over in 5 or 10 minutes.

Dealing with Your Car

You have some options for what you can do with an outstanding car loan as part of your Chapter 7 bankruptcy in Shreveport. If you want to keep the car, you can “reaffirm” the car loan by agreeing with the lender to keep making payments as usual. You can also “redeem” the car by giving the lender a lump sum amount equal to the car’s actual value, but you might need to take out another loan to accomplish that, so make sure to carefully consider your options. Finally, if you want to “surrender” or give up the car as part of your Louisiana bankruptcy, you won’t have to make any additional payments after filing bankruptcy in Shreveport. If you own a car free and clear, you can keep it if it’s worth less than $7,500 because that means it’s protected by the available exemptions. You might need to sell a car worth more than this.