Are you worried about losing your home or car? Are you constantly receiving harassing calls from debt collectors? If so, it is normal to feel overwhelmed and stressed out. It is time to address the issue and find solutions. Your debt problems will not solve themselves.

It may be time to consider bankruptcy as an option. Bankruptcy is not something to be afraid of; it offers legal protection. Bankruptcy is a tool, and in certain situations, it can be used to get consumers back on firm financial footing. If you are feeling overwhelmed by debt, please let our experienced Las Vegas bankruptcy attorneys review your case today.

Your Consumer Bankruptcy Options

For individuals in Las Vegas, two major types of bankruptcy might be available to you:

Chapter 7 Bankruptcy: This type of bankruptcy is generally considered to be a liquidation bankruptcy. It is powerful and can be used to discharge many different types of unsecured consumer debt. It is important to note, though, that Chapter 7 is not available for all individuals. If you live in Las Vegas, you generally must have an income that is below the median income level in Nevada to maintain eligibility. However, if your income is substantially above the median income in Nevada, an experienced Las Vegas bankruptcy attorney may still be able to help you qualify.

Chapter 13 Bankruptcy: This type of bankruptcy is considered to be a restructuring bankruptcy. Those who successfully file for Chapter 13 repay a portion of their debt over a three- to five-year period. Payments that have been altered by the bankruptcy filing will typically be rolled into a single payment that has been reduced to an amount that is actually affordable. Further, through Chapter 13, outstanding interest on your debt and any debt not repaid at the end of the plan will be forgiven altogether.

Ultimately, you should always work with an attorney who will assess the viability of both types of bankruptcy. Depending on your financial circumstances, you may not qualify for Chapter 7 bankruptcy. On the other hand, in certain situations, though you may qualify for Chapter 7, it might make more sense to restructure your debt using the Chapter 13 bankruptcy process.

Comprehensive Debt Relief Solutions

Filing for bankruptcy in Nevada is a big deal. If you are filing or considering filing, you need to be sure that doing so will provide a solution that actually fixes your long-term debt problems. You probably will not be able to get another bankruptcy discharge for eight years, so you want to make sure you get it right. It is important that you work with a Las Vegas bankruptcy firm that knows how to protect your legal rights and financial interests. Not only will our team ensure that your bankruptcy filing proceeds in an efficient manner, but we will also work to help you find comprehensive and creative solutions to all your debt problems.

Do You Need Bankruptcy Assistance?

Our Las Vegas bankruptcy attorneys are standing by, ready to help. If you are in a financially distressed position, please do not hesitate to get in touch with our team today. We will comprehensively review your individual circumstances and determine the best way to protect your legal rights and financial interests.