On August 23rd of 2005, Hurricane Katrina formed during the Atlantic Hurricane season and devastated New Orleans and all of the Coast of Louisiana. Loss of property and life caused a change in the lives of those living along the coastline. Due to the massive destruction, for those people filing bankruptcy in Louisiana leaner restrictions will be allotted.
The new bankruptcy forms will still be filled out but specific restrictions will be set aside, such as the use of the means test that is now state law. In October of 2005 a bankruptcy act requiring credit counseling and a means test evaluation were passed in several states. These requirements however are being waived in order to show sympathy and to provide aid for the numerous families affected by Katrina.
There are specific assets that are to be exempt. Assets are divided into nine categories including homestead, insurance, miscellaneous, personal property, public benefits, tools of the trade and wages. These exemptions vary between states. Though there are variations on bankruptcy laws and procedures, the overall process is the same. Evaluations are performed where finances including income, assets and debt are reviewed in order to decide on chapter eligibility. Once this is completed a bankruptcy judge will review this information and he or she makes the final decision. Bankruptcy is mainly an administrative process and is completed mostly outside of the physical court. In order to understand your specific eligibility for a bankruptcy claim in Louisiana contact a Louisiana bankruptcy attorney for a free evaluation and bankruptcy guidance.
Bankruptcy gives those who were suffering financial chaos a fresh start, a type of new financial beginning. After bankruptcy has been filed and all of your debts have been discharged you should allow yourself to stop thinking about your credit history and instead focus on your financial present. Law can in fact report bankruptcy on your credit report for a total of 10 years from the filing of your case. Past delinquencies as well as the bankruptcy can be reported on your credit report, but by the Fair Credit Reporting Act, the discharged debts must be reported at a zero balance showing that the debtor no longer has any ties to those past debts. So even though your credit history may show you're past financial flaws, remember they are PAST financial flaws.
Keeping the focus that you have a fresh start is what should be your drive to keeping your credit clean. Bankruptcy is not a shameful event. There are life occurrences that can lead towards bankruptcy. Letting go of the bankruptcy and discharged debts is the first step in your new beginning. Your next step is to use common sense in how you spend your money. After bankruptcy companies will still send credit cards and loan offers to you. It is wise to distance yourself from debt creators. If you choose to receive a credit card, do so with only a single credit card. Do not max out the cards limit and pay the bill off on time monthly. This will begin a new payment history that will begin a clean credit history. Keep this same focus with all of your spending and payments and your past history will haunt you no more. Your present history will be your focus and will help you to maintain a clean credit goal.
Pictures Of Natural Disaster
When Hurricane Katrina ravaged New Orleans in 2005, rank amateur con artists had a field day, not even needing the benefits of any particular rip-off training. Collectively they ripped about everything ripable from FEMA's pockets, including the lining. Here is just a sampling of the "enrichment activities" which took place at taxpayer expense as reported by a Senate Investigating Committee:
> An unbelievable 33% of the 2.5 million total applications for all forms of individual assistance were duplicates. That's right, nearly 1 million cases of fraud. Extraordinary.
> Government auditors, using bogus identities, false addresses, and creative disaster stories--for practice--were able to obtain their own $2,000 checks. No questions asked.
> Of 200 home addresses listed as hurricane damaged, 80--a staggering 40%--turned out to be nonexistent apartments or vacant lots.
> Twenty people used 35 bogus social security numbers to rake in more than $100,000 in payment-loot.
> Almost half of 11,000 people who were issued special debit cards good for $2,000 each as survival funds, got a second $2,000 windfall.
> More than half of a group of 250 collected using phantom social security numbers--numbers which had never been issued.
> Use of the social security numbers of dead people proliferated.
> Many cases were found of the special electronic debit cards being used to pay for jewelry, bail bond services, a .45-caliber handgun, and "adult entertainment" of some form or another. This part of the story reads more like fiction, like from a legal thriller.
In the aftermath of Hurricane Katrina, almost simultaneously with residents streaming out of New Orleans, a wave of illegal immigrants streamed in. Many of the clean-up jobs were taken by these people, no doubt extending the massive fraud, due to the known, high quantity of fake social security number use in their ranks.
End in sight? Who knows? After a 2-year struggle, the Homeland Security Dept. is still trying to get a handle on it. Being a cumbersome, lumbering government agency, one should not hold one's breath in wild-eyed anticipation Con artists are not the only ones who know that dealing with the government is like kicking a 300-pound sponge.
Oddity is, some 80 years before--in 1925--New Orleans was devastated by an almost identical hurricane-disaster. Not a penny came out of the Federal Treasury to bail the city out of that one. Nonetheless, somehow, the city got rebuilt. Obviously, with no federal bailout, no funds were available for fraud. So, the outcome was entirely different on that score too. How times have changed!
A generally accepted sage-wisdom of life is: You don't want to be so intelligent that nobody can relate to you. Consequently, professionals in every field generally regard talented amateurs with respect. The top executives of NBA basketball were duly impressed with the court prowess of Kobe Bryant and LeBron James while they were still in high school. Corporations vigorously recruit computer nerds, engineers, scientists, and honor graduates of all stripes on college campuses yearly. Even the federal and state governments are constantly seeking talented amateurs from among the masses, to employ and train.
Not so in the con artists' profession. Here the sociopath professional regards the amateur with disdain, convinced he is incapable of developing any kind of workable shell game. He feels, in this field of endeavor, the amateur, not having the I.Q. of a postage stamp, would be the type who would hold up a bank with thumb and forefinger for a gun, forgetting to keep the hand in a pocket. It is therefore appalling to the professional con artist to see this army of not-ready-for-prime-time players charge forward in Louisiana with such stunning success.
Many lock-the-barn-door steps have been taken by Homeland Security since the August, 2005 hordes of amateur con artists were unleashed upon them. But sadly, an ominous, almost hysterical note of panic winds through these moves. There's a ring of resignation about them. Too patch-quilt! Too little! Too late!
Both Legal Helpers & Jack Payne are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Legal Helpers has sinced written about articles on various topics from Bankruptcy Law, Bankruptcy Law and Finances. Legal Helpers is a debt relief agency helping people to file for bankruptcy relief under the bankruptcy code. We're one of the largest consumer bankruptcy firms.
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