Bankruptcy Exemptions

Bankruptcy Attorney in Nevada

Bankruptcy allows someone who is overwhelmed by debt to gain a fresh new start on life. The purpose of bankruptcy laws are to allow an individual to escape the downward spiral of his or her finances In modern times, many more people are facing bankruptcy that have never had financial problems before. Someone facing bankruptcy still needs to have possessions in order to live his or her life and move forward. An attorney will help you to compile a list of all the property you own that is exempt from the bankruptcy. This will be entered onto a petition and submitted to creditors. Creditors will then have a chance to object to the petition within 30 days. Nevada bankruptcy lawy er

Nevada Bankruptcy Lawyer

In the state of Nevada, the following items are exempt from bankruptcy:

Homestead: a home or mobile home with a value of up to 550,000. An attorney can assist you with filing a homestead declaration.
Wages: a minimum of 75% of your disposable earnings. An individual with low income may be able to retain more.
Pensions: Retirement accounts of up to $1,095,000.
Public benefits: this can include compensation for a crime victim, public assistance for children, or unemployment compensation.
Work materials: the equipment and tools you need to perform your job can be made exempt from bankruptcy. Supplies reaching a value of $10,000 and other materials that can be gone over with an attorney.
Security deposit: you may keep your security deposit on an apartment under the landlord's discretion.
Support: child and spousal support are exempt.

Our firm has helped thousands of clients to handle their financial situations even when it seemed like all hope was lost. There is always a solution and speaking with an attorney can help you to find it today. Don't wait any longer; your future can be made brighter by calling today.

Contact a Nevada Bankruptcy Attorney today if you have any questions about your exemptions.