A Bankruptcy Attorney In Las Vegas Can Help
When a job loss, injury or illness, or out-of-control expenses has caused your debts to pile up beyond your ability to repay them, the bankruptcy attorneys in Las Vegas at the law firm of Peters & Associates, LLP can help you start over with a clean slate following a Chapter 7 or Chapter 13 bankruptcy discharge.
What Can Bankruptcy Do For Me?
Bankruptcy offers a fresh start for consumers dealing with a wide variety of financial issues, including the following:
Credit Card Debt - Most credit cards are unsecured, and as unsecured debts, they are dischargeable by the Bankruptcy Court.
Medical Debt - Doctor bills, hospital bills, and other medical bills are also examples of unsecured debt, and as such may be discharged by the Bankruptcy Court in a Chapter 7 proceeding.
Tax Debt - Federal income tax is eligible for a discharge in bankruptcy, so long as it meets certain criteria. For instance, it must be related to a tax return that was filed at least two years ago and that had a filing deadline more than three years ago, including extensions. If the government secures a tax lien on your property before you file for bankruptcy, you may not be able to receive a discharge.
Home Foreclosures - As a secured debt, a mortgage is not dischargeable in Chapter 7. However, Chapter 13 allows you to catch up on delinquent payments and stop a foreclosure. The automatic stay in Chapter 7 or Chapter 13 stops a foreclosure during a bankruptcy proceeding, unless the bank petitions the court for a relief from the stay.
Judgments - If a creditor has gone to court on an unpaid debt and obtained a judgment against you, that judgment may be dischargeable by the bankruptcy court, particularly if the underlying debt was unsecured. Judgments based on civil torts, such as intentional torts or drunk driving, are generally not dischargeable. Obtaining a discharge is easier if the judgment creditor has not attached a lien to your property to satisfy the judgment.
Wage Garnishments - If a creditor has instituted a wage garnishment to collect on a debt, the automatic stay invoked by a bankruptcy filing will stop the garnishment immediately. If the underlying debt is unsecured, it may be discharged by the court.
What is My Role in the Bankruptcy Proceeding?
Almost all consumer bankruptcies are voluntary, meaning that they are initiated by the debtor who files a petition with the bankruptcy court, usually under either Chapter 7 or Chapter 13 of the U.S. Bankruptcy Code.
If you are filing under Chapter 7, you will also need to file several supporting documents, including a schedule of your assets and liabilities, a schedule of your current income and expenditures, a statement of your financial affairs, and other similar records, as well as a certificate showing that you have received credit counseling and similar documentation. We can help you prepare and submit the necessary records.
If you are filing under Chapter 13, you will need to attend a creditors' meeting and answer questions, submit a payment plan to the bankruptcy court and make the required payments to the trustee, and also complete any debt management courses which the court requires.
Bankruptcy Law Firm in Las Vegas
For professional, effective assistance with a Chapter 7 or Chapter 13 bankruptcy in Las Vegas or Henderson, Nevada, contact Peters & Associates, LLP for a free consultation.
