Nevada Chapter 7 Attorney

Bankruptcy Lawyer in Nevada Helps Clients With Chapter 7

When individuals or spouses find themselves overwhelmed by the burden of debt, filing Chapter 7 is an option to consider. Chapter 7 involves liquidating assets, relieves debt and provides protection from creditors. In order to qualify for Chapter 7 bankruptcy, your income typically must be less than the median income for people in your area. A Nevada bankruptcy attorney from our firm can help gauge whether or not you may be eligible.

At Price Law Group, our experienced bankruptcy lawyers have helped over 100,000 families find their way out of debt with solutions like filing bankruptcy, debt counseling, debt negotiation, credit repair, and other alternatives to bankruptcy. When a client hires us, we strive to help provide peace of mind by presenting solutions to get out of what can seem like a hopeless situation.

What Is the Difference Between Chapter 7 and Chapter 13 Bankruptcy?

In order to qualify for Chapter 7, there are some requirements that generally have to be met. One of the more significant issues is the amount of disposable income that an individual or family brings in. This is basically the monthly income minus expenses like rent, utilities and other living costs. A means test is used to determine this. If the disposable income, over a 5 year period, is projected to be under $100 month (to pay unsecured creditors), it is feasible that Chapter 7 may be appropriate. On the other hand, if it is projected to be over $100 per month, a client would most likely be required to file Chapter 13 bankruptcy, which is a debt repayment program that usually lasts for a 3-5 year term.

If you or someone you know is struggling with debt, and would like to find out more about filing bankruptcy, our experienced and knowledgeable attorneys are standing by to assist. Don't spend another day experiencing creditor abuse or worrying about paying bills that you don't have the funds to cover. We can help create a plan, based on your situation, that you understand and can feel good about moving forward with.

Contact a Nevada Chapter 7 Bankruptcy Lawyer from our firm now to find out how we can help you.