Filing for Bankruptcy Relief in Nevada
Filing for bankruptcy relief is a serious decision that can affect your finances and life for many years. The decision should not be made lightly or without the assistance and advice of an experienced Las Vegas bankruptcy attorney.
Our team of exceptional bankruptcy lawyers at Your Vegas Lawyers, LLC, handles consumer and business bankruptcies for clients throughout Nevada. Our law firm handles bankruptcy cases filed under:
- Chapter 7 Bankruptcy — Individuals and couples who cannot afford to repay their debts may qualify to eliminate those debts in under six months. Companies filing under Chapter 7 liquidate their assets and close.
- Chapter 13 Bankruptcy — A bankruptcy reorganization for individuals and couples who have sufficient income to repay some of their debts. Chapter 13 cases can help debtors stop foreclosures and repossessions. Chapter 13 plans also spread out payments for past due taxes, alimony, and child support.
- Chapter 11 Bankruptcy — Companies struggling to remain open because of debt problems can restructure their debts through a Chapter 11 plan. Improve cash flow and manage debts effectively to continue doing business. Individuals may file under Chapter 11 when their debts exceed the debt limits in Chapter 13, or they have complicated, high-value assets and debts that are difficult to manage in Chapter 13.
Benefits of Filing Bankruptcy in Las Vegas
There are numerous benefits of filing for bankruptcy relief. Some bankruptcy benefits you may want to consider include:
- An affordable way to eliminate debts you cannot repay.
- Most debts are eligible for a bankruptcy discharge. A discharge eliminates your legal liability to repay a debt.
- You can protect property from being seized or levied to repay debts. Stop foreclosures, repossessions, debt collection lawsuits, wage garnishments, and other collection efforts by filing a bankruptcy case.
- Get the fresh start you need to recover from a financial hardship.
- Relieve the stress and anxiety of dealing with debt problems and creditor harassment.
- Protect home equity and retirement for a healthier financial future.
Contact our Las Vegas bankruptcy lawyers to discuss the benefits of filing bankruptcy during a free, no-obligation consultation. Learn whether filing Chapter 7 or Chapter 13 is the best way for you to get rid of debts.
What Debts Are Dischargeable In Bankruptcy?
You can eliminate most unsecured debts by filing a bankruptcy case. Examples of debts that are eligible for a bankruptcy discharge include, but are not limited to:
- Credit Cards
- Medical Bills
- Old Lease and Rent Payments
- Personal Loans
- Old Utility Payments
- Personal Judgments
Some unsecured debts are not eligible for a discharge. Those include:
- Student Loans
- Tax Debts and Other Government Debts
- Child Support
- DUI Accident Judgments
However, some old income tax debts and student loans can be discharged in bankruptcy, if you meet specific criteria for a discharge. Talk to our bankruptcy lawyers in Las Vegas about how to discharge income taxes and student loans in bankruptcy.
Secured debts can be discharged in bankruptcy, but the bankruptcy discharge does not release the secured lien on the collateral. Therefore, if you want to keep your home or car, you must continue paying the lender. However, in Chapter 13, you might be able to decrease the amount owed on the title loan for your vehicle or get rid of a second mortgage on your home.
What Should I Do If I Cannot Pay My Debts?
Do not ignore the situation. Ignoring debt problems only makes the problems worse. Instead, talk to a Las Vegas bankruptcy lawyer for free. Get the facts about filing bankruptcy in Nevada from a trusted, experienced legal advocate. You might be surprised how affordable and easy filing bankruptcy can be with the right attorney by your side.
Contact Our Las Vegas Bankruptcy Attorneys to Discuss Foreclosure and Bankruptcy
At Your Vegas Lawyers, LLC, we care about what you are going through. We know that debt problems can be overwhelming. Many people suffer from depression and anxiety as they deal with the stress caused by debts.
Do not allow your debts to control your life another day. File a bankruptcy case to end your problems with debt.
Call our office today to schedule your free consultation with an experienced Las Vegas bankruptcy attorney.