Legal Question in Credit and Debt Law in Louisiana

There likely was a loan document signed at the time you took the loan. That contract will likely specify the consequences of not paying. The contract likely allows for stiff penalties, possibly seizure of any collateral that was put up (like a loan on a car), attorrney's fees, and even the use of executory process and summary proceedings. You would have to read the contract, which would be the law between the parties. The short answer is that the consequences of not repaying the loan are going to be pretty bad for you.

If you are truly bankrupt, you may want to consider seeking the protection of the bankruptcy court. If that is the case, you should talk to a bankruptcy lawyer near you.

I would not recommend going to any of these "credit fixing" companies. They are scams and will not offer you any real help. If you qualify for a bankruptcy, seek the advice of a competent bankruptcy lawyer.