Chapter 7 Bankruptcy


Low Cost. Personal Attention. We Return Your Calls!

702-420-7052

We are a solo practitioner attorney’s office in Las Vegas. If you want personal attention from your bankruptcy lawyer and don’t want to be shuffled between several attorneys and paralegals all the time, this is the place to come.

Mr. Smith himself will be with you at the Creditors’ Meeting, not another bankruptcy attorney who’s never looked at your file.

We take your calls even after you’ve paid us.

las vegas discount attorneyChapter 7, often better-known as the “Fresh Start Bankruptcy” allows for the elimination of nearly all your debts.

las vegas discount attorneyThe U.S government looks at it as a “liquidation,” meaning that all nonexempt property must be sold and the proceeds distributed equally between creditors. No creditor can be favored above another.

ARE YOU ELIGIBLE FOR A CHAPTER 7 BANKRUPTCY?

  • To qualify for relief under a Nevada Chapter 7 Bankruptcy filing, the debtor must be: an individual, a partnership, or a corporation or other business entity, though we are only addressing individuals here.
  • Individuals may file a Chapter 7 Nevada Bankruptcy subject to a means test, which we administer for you. The means test is basically a list of questions on income and debts owed.
  • No matter the amount of your debts, they can all be erased by filing a Nevada Chapter 7 Bankruptcy.
  • However, if you filed a Nevada Bankruptcy petition during the preceding 180 days and it was dismissed due to failure on your part to appear at the Bankruptcy Hearing, or you failed to comply with court orders, or you voluntarily dismissed the previous bankruptcy case because your creditors sought relief from the bankruptcy court to recover property on which they hold liens. 11 U.S.C. §§ 109(g), 362(d) and (e), you wont’ be able to file at this time.
  • As part of the process of a Nevada Chapter 7 Bankruptcy filing, you must, within 180 days before filing, receive credit counseling from an approved credit counseling agency* either in an individual or group briefing. 11 U.S.C. §§ 109, 111.
  • You must file any debt management plan you develop during this required credit counseling with the court. It is not mandatory for you to create such a plan during the credit counseling.
  • The primary purpose of a Nevada Chapter 7 Bankruptcy filing is to give an honest individual debtor a Fresh Start. Once your Chapter 7 Bankruptcy is discharged, you will have no liability for the discharged debts.
  • A bankruptcy discharge does not remove a lien on real estate.

Nevada State Median Yearly Income

One individual in a family: 45,642 Two individuals: $57,860 Three: $65,032 Four: $67,997 Add $6,900 more per year for each individual in excess of four family members

YOUR ALTERNATIVES TO FILING A  CHAPTER 7 BANKRUPTCY

  • If you are engaged in a business, including a corporation, partnership, or a sole proprietorship, you should consider filing a Nevada Chapter 13 Bankruptcy. It would allow you to keep your business and to keep operating it and earning income from it. Your debt would either be reduced or reorganized, or the time for repayment would be extended.
  • Even if you do not own your own business, but you do have an income, a Nevada Chapter 13 Bankruptcy would allow you to save your home from foreclosure, for instance.
  • If your current monthly income is more than the Nevada State Median Income (see above on this page), the Bankruptcy Code requires application of a “means test” to determine whether the chapter 7 filing is presumptuously abusive.
  • Another option to a Nevada Chapter 7 Bankruptcy open to you is out-of-court agreements with creditors or debt counseling services, such as loan modifications.

* We provide the link to this particular agency strictly as a matter of convenience for our clients. We do not recommend this agency over others, nor do we have any financial arrangement with this agency for sending clients to them.