Bankruptcy is a legal proceeding in which an individual who cannot pay his or her bills can get a fresh financial start. Also, Bankruptcy is a right that is provided for individuals in Nevada under federal law. Bankruptcy cases are handled in Federal Court. Declaring bankruptcy immediately stops creditor harassment and collections, at least until your debts are sorted out according to the law. Bankruptcy FAQs can be answered by an experienced Las Vegas bankruptcy lawyer.
Yes, filing for chapter 7 or chapter 13 bankruptcy will almost certainly have a negative affect on your credit initially. However, if you are considering declaring bankruptcy you are probably already have a fairly low credit score or under significant financial stress. In the long term, bankruptcy will get you a “fresh start” and allow you to rebuild your credit from a solid starting place.
YES, it is possible to own property after filing for bankruptcy protection. It is a bankruptcy myth that if you file bankruptcy you will be left without any worldly possessions. This is simply not true!
After filing bankruptcy in Las Vegas you keep your exempt property and anything you obtain after filing the bankruptcy. Keep in mind, if you receive a settlement, inheritance, or significant benefits within 180 days after filing bankruptcy, you may have to pay that money to your creditors.
Yes. After filing bankruptcy an “automatic stay” goes into place and prevents bill collectors from taking any action to collect debts. Action by the creditors to collect a debt while an individual is protected by an Automatic Stay is illegal. Our Vegas bankruptcy team can help assure that creditors stop collection action.
In most cases — YES. Likely, the only time you will need to appear in court is at your “Meeting of Creditors” also called “341 hearing”. At your 341 hearing you will meet with the bankruptcy trustee and any creditor who chooses to come. Don’t worry! Most of the time, this meeting will be a short and simple procedure where they ask you a few questions about your bankruptcy forms and your financial situation. Quite often, not a single creditor appears.
Occasionally, if complications arise in your chapter 7 or chapter 13 bankruptcy, or if you choose to dispute a debt, you may have to appear before a judge at a hearing. Your Las Vegas bankruptcy attorney will be with you every step of the way during any court hearings you may need to attend. Our Vegas bankruptcy team prepares you for your hearing and our lawyer makes sure your represented.
No! An employer CAN NOT fire you just because you file for bankruptcy. The Federal Law and Bankruptcy Code prohibits private employers from discriminating against you because you declared bankruptcy. Losing your job because you filed bankruptcy should not be something you worry about as you consider filing bankruptcy in Las Vegas.
A bankruptcy filing stays on a persons credit for 7 to 10 years.
For more information about bankruptcy, contact the Law Office of Erik Severino to schedule a free consultation. I am a Las Vegas bankruptcy attorney who has helped thousands of people in Las Vegas and throughout Nevada file for bankruptcy. I look forward to assisting you.
However, bankruptcy filings are matters of public record which if you search you can find. They are not usually a common bit of news put into a newspaper but for the most part it is fairly discrete.
I Have a Debt that has a Cosigner. Is the Cosigner Still Responsible for my Debt if I File Bankruptcy?
Yes, cosigners (including a spouse) who do not file bankruptcy themselves remain liable for the debt if the other party files for bankruptcy protection. Regardless if you receive a discharge in bankruptcy, the creditor still can pursue your cosigner for the debt.
Las Vegas Bankruptcy protection offers an opportunity for a fresh start. If your debt is overwhelming, and it is affecting your family, personal, or professional life, a bankruptcy can eliminate debt. Getting out of debt can give you the new beginning to get back on track. Also, filing a bankruptcy petition can immediately stop harassing phone calls by creditors, end a wage garnishment, and stop a foreclosure or repossession. Seek the assistance of an experienced Las Vegas bankruptcy attorney for more details. This is one of the most popular FAQs regarding filing for bankruptcy in Nevada.
Keeping your vehicle when filing bankruptcy
How to file bankruptcy and keep your car.
The best way to assure that your wages never get garnished is to be proactive. Filing your bankruptcy proactively upon the receipt of the Summons can make sure that the garnishment never starts.
The experienced lawyer at the Law Offices of Erik Severino can provide you with a
clear deadline and target date to file your bankruptcy. We can ensure your case is filed and your garnishment stops. It is important to call and schedule your free consultation as soon as you are served with any legal paperwork.
My Spouse is currently in the military and currently deployed or is about to be deployed. Can I still file bankruptcy?
Our Nevada based law firm can prepare the Power of Attorney if you do not have one