Chapter 13 Las Vegas
File your Chapter 13 bankruptcy for $500 plus Court costs!
Chapter 13 Las Vegas is a method of paying back the creditors in a three or five-year plans at amounts agreed upon. During this time you will not be able to take out any other loans, buy a different home or use your credit in any way. This style of bankruptcy takes place over 3-5 years and some of the creditors will receive payment in full; others will receive pennies on the dollar. This is all decided by the trustee in Bankruptcy court and the Bankruptcy law. During the process, it will be decided how much you will have to pay into the trustee on a monthly basis. This cannot be paid off early and you cannot choose what creditors are to be paid.
The payment order of Chapter 13 Las Vegas is typically the trustee’s fees and attorney’s fees are paid first. The secured debts, priority debts and unsecured debts are then next. During Chapter 13 Las Vegas you can keep certain properties, depending on what types of loans you have and any liens on that property. It is best to speak to a qualified Law office such as ours to make that determination for you. If you don’t want to keep your property you can give it back to the creditor and it will then become an unsecured debt.
Las Vegas Chapter 13
The bankruptcy law determines what creditors get paid first. This chapter is also known as the wage earner’s plan. It’s a way to allow people with a good income to develop a plan to get out of excessive amounts of debt. It’s determined by your income if you will have a three or five-year term. If your income is under the applicable state median your plan will most likely be three years. However, if your income is over, it will be five years.
There are advantages of Chapter 13 Las Vegas. One is that you can save your home from foreclosure. And, the creditors cannot have direct contact with you. So, the collector calls stop. If you are looking to stop a foreclosure and throw that debt into the bankruptcy we can help. However, the regular mortgage payments need to be made during Chapter 13 to continue to keep the home. Chapter 13 is similar to a consolidated loan to pay back the creditors.
Chapter 13 Planning
During any kind of bankruptcy you will need to have a full list of creditors you owe, the amount owed and proof of your income. We will also need copies of the most current tax return as well. Be prepared to have people in your finances and asking a lot of questions. Filing a petition of Chapter 13 will immediately stop all the creditor phone calls and collection actions. This can help bring some instant relief for some people.
We would love to work with you on your Chapter 13 or Chapter 7 Bankruptcy Las Vegas case. We have helped 1000’s of people get the debt manageable and their lives back. This is why we do what we do. We love to help people and understand people don’t go into life thinking bankruptcy is an option. But, sometimes it’s a very needed option, loss of job, divorce, illness and other situations couldn’t be avoided.
For all bankruptcies after 2005 everyone needs to take a debt management course. These courses are designed to help the people that end up in bankruptcy to not go down the same paths that got them there in the first place. The idea is to learn from your mistakes. And try not to do the same mistakes again. Everyone makes mistakes and has rough patches in life. But, trying to avoid making the same mistakes can save you from the same outcome.