What is a Chapter 7 Bankruptcy Discharge?
There are many FAQS regarding filing bankruptcy in Nevada. A Chapter 7 bankruptcy discharge is a formal liquidation of your unsecured debt. This means you are no longer responsible for the debt. A chapter 7 bankruptcy discharge wipes out most debts. There are certain debts that can not be discharged including: certain tax debt, student loans, back child support, and criminal restitution. There are some exceptions and circumstances where taxes and student loans may be discharged. You will receive your discharge typically within four months of the filing of your bankruptcy petition. It is highly recommended that you keep a copy of your discharge safe in case you need to provide it later down the road.
What Happens After the Meeting of Creditors?
A “Meeting of Creditors” also known as a “341 Hearing” should be the only court appearance that you need to make in a Nevada chapter 7 bankruptcy filing. After the meeting of creditors (341) you will need to take your 2nd credit counseling class if you have not done so already. There is typically a 90 day waiting period after your meeting of creditors in which creditors can object to your discharge. Once the 90th day passes without any objections from your creditors; your discharge is typically entered shortly thereafter. During this time you may receive requests from your Trustee or attorney which you must comply. People in Henderson and Las Vegas often have several FAQS (Frequently asked questions).
Can I use My Tax Refund to File My Bankruptcy?
Yes. Your tax refund may be spent on reasonable and necessary expenses. This includes attorney’s fees to pay for your bankruptcy. It is important that you spend your tax return on appropriate things. A Las Vegas bankruptcy lawyer can advise you as to the best way to use your tax return.
Spending your tax refund the right way can be complicated. It is recommended that you consult with an attorney prior to spending your tax refund. Give us a call at (702) 899-3328 for a free consult with our debt relief team. We look forward to assisting you.
How Often Can a Person File for Bankruptcy in Nevada?
A Chapter 7 bankruptcy petition can be filed once every 8 years. This is from the commencement of the filing, not the discharge date.
A Chapter 13 can be filed every 2 years in most cases. However, you must wait 4 years to file for chapter 13 bankruptcy after filing a chapter 7 bankruptcy. A Chapter 13 can be filed 4 years after the filing of a Chapter 7 and you still receive a discharge.
How Long Does a Bankruptcy Stay on My Credit Record?
A bankruptcy filing will reflect on your credit report for 10 years. This however does not mean that your credit will be “ruined” for that long. Our Henderson bankruptcy attorney has a great program to raise your credit to 720+ within 12-24 months of filing for bankruptcy.
There are many steps that can be taken to help rebuild your credit after filing for bankruptcy. Our experienced attorneys will be happy to advise you of how to repair your credit after your bankruptcy filing.
Is there a charge for the consultation visit to our Henderson Bankruptcy Office?
NO, HENDERSON BANKRUPTCY LAWYER, ERIK SEVERINO PROVIDES FREE CONSULTATIONS. ALL YOU NEED TO DO IS CALL OUR OFFICE TODAY (702) 899-3328 TO SCHEDULE AN APPOINTMENT. WE ARE AVAILABLE SATURDAYS TO MEET YOUR BUSY SCHEDULE. OUR HENDERSON BANKRUPTCY OFFICE ADDRESS IS: 1489 W. WARM SPRINGS RD., STE. 110, HENDERSON, NV 89014
Do I need a Henderson Bankruptcy Lawyer to file for bankruptcy in Nevada or can I file on my own?
You are able to file for bankruptcy protection in Nevada without using an attorney, however, the bankruptcy process can be a daunting task to take on by yourself. It is not recommended to file bankruptcy without a bankruptcy lawyer as the bankruptcy process is filled with rules and procedures which must be followed. Without the guidance of an experienced bankruptcy attorney, you may make any number of harmful mistakes. Mistakes while filing bankruptcy could lead to loss of property or even your case being dismissed.