How to Find Bankruptcy Records in Louisiana
Bankruptcy records in Louisiana are files containing extensive financial information on companies and individuals who filed for bankruptcy. These documents are useful when you have to make finance-based decisions.
According to the Louisiana Public Records Act, any individual can place a request for a public record. As per the laws of the state, these documents fall under the Louisiana bankruptcy public records category. You don’t have to state the purpose for why you want to access these files from the custodian. The party in charge of keeping the Louisiana public bankruptcy records must respond to you within three days after receiving your request.
Why do people search for bankruptcy records in Louisiana?
There are several reasons why people look for bankruptcy records in Louisiana. For example, you are planning on starting a company with a handful of business partners. As every individual is making a large investment, you want to learn more about the financial history of all involved parties.
Another reason why you want to search for Louisiana bankruptcy records is that you plan on lending money to an individual. Going through these types of documents will help you understand whether you should go ahead or reconsider your actions.
While going through the Louisiana bankruptcy records, it is essential to discover the reason for taking this measure. For example, the financial situation of a person filing for bankruptcy due to overspending credit differs from one who has an outstanding student loan. At the same time, the time of filing for bankruptcy can give you a glimpse of the person’s current financial status.
What will you find in bankruptcy records Louisiana?
When you go through the bankruptcy records in Louisiana, you will find the gross income of the individual or business along with the source of revenue. In these documents, you can learn about the party’s assets, such as owned businesses, property, stock, and bank accounts.
You can also find the names of all the creditors, along with the amount owed and the addresses of these entities. If you are going through the Louisiana bankruptcy records of a company, it includes what the business owes its employees, like the final paycheck.
How to look for Louisiana public bankruptcy records?
There are several ways you can search for these documents in the state. Keep in mind that federal bankruptcy courts are the ones that handle the cases when companies or individuals file for their inability to keep up with their debts.
These institutions use a proprietary system, known as the Public Access to Court Electronic Records (PACER) for all their bankruptcy court cases. You need to create an account on this platform, to look for these types of documents.
To access the files immediately, you will have to provide details about your credit card. If you don’t have one, you need to wait for an activation code. You will receive this via U.S mail, which takes 7 – 10 days to reach the address you provide.
To create an account on PACER, you don’t need to pay a registration fee. As per the Judicial Conference of the United States, you need to pay a fee for accessing the site. For every page, PACER systems will charge you $.10.
From Jan 1, 2020, if your quarterly usage of this service is $30 or below, you won’t have to bill. This effect will be noticeable from the billing statement in April 2020.
Another way to access Louisiana bankruptcy public records is to get in touch with the federal bankruptcy court where the individual filed for bankruptcy. Given below are the institutions you can place a request for these files: