Let’s review some of the most common questions we are asked about bankruptcy:
Q: Can anyone file for bankruptcy?
We will walk you through the process of determining if bankruptcy is the best solution for your financial problems. If we decide bankruptcy is the solution to your difficulties, the bankruptcy that best fits you is determined by many factors, but your gross monthly income is very important. Please bring your most recent pay stub to your free consultation.
Q: How can bankruptcy help me?
Bankruptcy provides a fresh start and an opportunity to straighten out your finances.This affordable option can end the stress caused by debt including wage garnishments, lawsuits, harassing telephone calls from creditors, car repossessions, and home foreclosures.The moment we file your bankruptcy petition, all of those collection activities stop immediately.
Q: How can I afford bankruptcy if I can’t afford to pay my bills?
Hiring a qualified attorney doesn’t always need to be expensive. Your consultation with Christine is free. If you choose bankruptcy is the right option for you, we can set up an affordable payment plan to meet your budget. We can start your Chapter 7 bankruptcy with $0 down and a flexible payment plan. Chapter 13 bankruptcies can be started with as little as $500 down.
Q: What types of debt are eliminated in bankruptcy?
In a Chapter 7 bankrutpcy, many of your debts are eliminated upon receiving your bankruptcy discharge. Debt such as credit card debt, short-term loans or payday loans, debt collections, medical bills, car repossessions, and home foreclosures are discharged. Some debts, such as IRS or tax debt, unpaid child support or alimony, some student loans, and fraudulent debts are not eliminated through the bankruptcy process.
Q: Can I keep my house or car if I file for bankruptcy?
Yes!Nevada allows you to keep many of the items you love – your car, your family home, household items, your 401k or pension plan, and many more.
Q: How long does the bankruptcy process take? Do I need to go to Court?
The bankruptcy process is usually completed in as little as four to six months.Remember, there are no phone calls from creditors or collection activity during that time. In most cases, we will need to visit the bankruptcy court only once together, but it is routine administrative visit to ask some simple questions about your finances.
Q: Can I eliminate any of my IRS or tax debt?
Sometimes. To eliminate your IRS debt, the bankruptcy court looks at a few different things: how old the taxes in question are, when were those tax returns filed, when did the IRS assess the tax, and you cannot have an IRS lien. IRS or tax debts are best discussed at in your free consultation.