WE PREPARE AND FILE PERSONAL AND BUSINESS TAX RETURNS. Call Now
At Randolph Law Firm in Las Vegas, bankruptcy attorney Taylor Randolph helps individuals and families throughout Nevada get debt relief that significantly improves their quality of life.
Our legal team understands how the burden of debt can adversely affect your relationships, your physical and mental health, and your career. If you feel overwhelmed with debt that you cannot afford to pay off despite your best efforts, bankruptcy may provide relief to you and your family. Bankruptcy protection is provided by federal law and is available to all citizens who need it and qualify for it.
Give our Las Vegas bankruptcy law firm a call today at 702-757-7777 to discuss your specific situation. Initial consultations are FREE.
One of the most common questions our clients ask is, “Can bankruptcy clear all debt?” Keep in mind, as you consider your options, that while it cannot clear away all of your debt, bankruptcy can help you create a fresh financial start as you look to the future.
It can help you wipe out:
If you are getting threatened with foreclosure or vehicle repossession, bankruptcy may be a way to help you keep your home or vehicle, or it may be an excellent way to help you cut ties with an unaffordable house or car and move on to a better situation. Filing bankruptcy in Las Vegas may be able to help protect:
As a skilled bankruptcy lawyer, I can help you weigh your options for resolving debts and help you make informed decisions about what is best for you and your family.
There are various types of bankruptcy in the United States, but the two main chapters of the U.S. Bankruptcy Code that most individuals and families file for protection under are Chapter 7 and Chapter 13.
Chapter 7 bankruptcy, also referred to as “liquidation bankruptcy” is most for individuals. Chapter 7 allows you to discharge most unsecured debts, such as credit card debt, medical bills, and personal loans. In exchange for debt discharge, the court appoints a trustee who sells your non-exempt assets to pay back creditors to the extent possible. However, Nevada has a generous exemption list that allows you to keep most of your belongings, including your home car, and household items.
Known as the “wage earner’s bankruptcy”, Chapter 13 allows individuals with a regular income to create a repayment plan to repay their creditors, usually over a period of 3 to 5 years. Under Chapter 13, debtors keep their assets, but they must make monthly payments to a court-appointed trustee. The trustee distributes the funds to creditors according to the approved plan. This option allows debtors to catch up on missed payments and avoid foreclosure or repossession of their property.
It’s crucial to consult with a qualified bankruptcy attorney in Nevada to determine the best course of action for your specific situation. At our bankruptcy law firm, we can advise you on which chapter of bankruptcy is right for you, help you navigate the complex legal process, and ensure you maximize your chances of a successful outcome.
Many Nevada consumers have questions about whether bankruptcy is right for them. Bankruptcy may be a good option for you if you can answer “Yes” to one or more of these questions:
We can help you assess your financial situation and weigh the pros and cons of bankruptcy during a free consultation.
Our bankruptcy law firm can advise you regarding your debt relief options and help you file for bankruptcy in Las Vegas if you choose to do so. Contact us to learn more.
Filing for bankruptcy will certainly have a negative impact on your credit score. A Chapter 7 bankruptcy can stay on your credit report for up to 10 years, while a Chapter 13 bankruptcy remains for 7 years. However, it’s important to remember that bankruptcy isn’t the end of the road for your credit. Here’s what you can expect:
Filing for bankruptcy can actually be a step towards a healthier financial future. By eliminating overwhelming debt, you can free up resources to rebuild your credit score through responsible credit card use and timely payments on loans.
Yes, it is possible to get a mortgage after filing for bankruptcy in Las Vegas, but the waiting period and loan terms will depend on the type of bankruptcy you filed and how long it’s been since the discharge.
Tips for Getting a Mortgage After Bankruptcy:
No, filing for Chapter 7 bankruptcy in Nevada doesn’t guarantee you’ll lose your home. Nevada has a generous homestead exemption that protects a significant portion of your home equity from creditors. This means that even if you have to sell assets to repay creditors, your primary residence is likely safe.
However, it’s important to consult with a bankruptcy attorney to determine the exact amount of equity exempt in your specific case. There are situations where you might have more equity than the exemption protects, or if you have a second mortgage or lien on your property, which bankruptcy may not eliminate.
Generally, bankruptcy does not eliminate most federal or state tax debt. However, there are some limited exceptions depending on the circumstances. An experienced bankruptcy attorney can advise you on the dischargeability of your specific tax debt in Nevada.
The timeframe for bankruptcy can vary depending on the chapter you file and the complexity of your case.
It’s important to note that this is a general timeframe, and the actual time may differ depending on your situation. Consulting with a bankruptcy attorney can give you a more accurate estimate for your specific case.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
We are available. Call us at 702-757-7777 to get connected right now,
or fill out the form below and one of our representatives will contact you shortly.
