Bankruptcy
If you are facing insurmountable debt, financial stress, and harassing calls from creditors, you need to discuss your financial situation with an experienced bankruptcy attorney who can analyze your situation and see if bankruptcy relief is an option for you. The attorney can discuss whether other financial solutions, such as debt consolidation, are better suited to your needs, and give you a realistic view of what bankruptcy can accomplish for you. The attorney can advise you as to what assets you can keep.
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Bankruptcy laws
Bankruptcy laws are complex and extensive documentation is required by the court, so you need to ensure it is done correctly to maximize the relief available. You also need to know the consequences of filing bankruptcy and the effect on your future credit rating. A lawyer helps you weigh all of the factors involved, such as the type of debt, the types of bankruptcy available to you, and what debts bankruptcy can discharge and what debts it cannot discharge.
For individuals seeking a discharge of their debt through the bankruptcy court, there are two options: a Chapter 7 liquidation, or a Chapter 13 repayment. The type of bankruptcy you qualify for depends on they type of debt you have, and your income and expenses. A consultation with an attorney who knows the applicable formulas that apply to your situation is the most precise way to effectively start this process.
Chapter 7
This is a liquidation bankruptcy for people who do not have the ability to pay their existing debt.
Chapter 13
This is a reorganization bankruptcy for people who have income left over after paying their necessary household expenses.
What type of information does the lawyer need from me to analyze my financial situation?
List of your creditors, amounts owed, and type of debt (mortgage, car loan, consumer charges, etc.); Your income; List of the property you own and value of that property; List of your monthly living expenses.
We provide you with a form to gather information before talking with an attorney.
Get in touch with us
Over two decades of working in the Northern Nevada legal community has given us the chance to collectively be involved in thousands of cases. Our familiarity with courts, processes and opposing attorneys gives us the experience and insight to help you navigate your case.
