HENDERSON CHAPTER 7 BANKRUPTCY
FAQs

Please read on as our Henderson Bankruptcy Attorneys discuss some of the most asked questions regarding Chapter 7 bankruptcy and filing bankruptcy in Henderson, Nevada.

Filing bankruptcy is a huge decision, so you probably have plenty of questions you need answered before filing your petition. For answers tailored to your specific situation, you need to consult with a bankruptcy attorney who is familiar with bankruptcy in Las Vegas. Before doing so, you can prepare yourself by reading these frequently asked questions regarding Chapter 7 bankruptcy in Las Vegas.

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ANSWER:

Chapter 7 bankruptcy discharges most types of unsecured debts, or debts that don’t have an asset attached as collateral. Credit cards, medical bills, repossession deficiencies, nonpriority taxes, and more can be discharged in a Chapter 7 bankruptcy. Priority taxes, student loans (in the vast majority of cases), domestic obligations, and certain other debts won’t be cleared away in a Chapter 7. You should confirm the dischargeability of your debts during a debt evaluation with an experienced Henderson bankruptcy attorney.

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ANSWER:

Unlike Chapter 13, Chapter 7 bankruptcy has no limit on the amount of debt that can be discharged.

CONTACT AN EXPERIENCED HENDERSON CHAPTER 7 BANKRUPTCY ATTORNEY

ANSWER:

The filing fee for a Chapter 7 bankruptcy in Henderson, NV is $338. However, in cases of extreme financial hardship, the court may waive the filing fee for a Chapter 7 filer. However, the courts are highly unlikely to grant a fee waiver if the filer has retained a bankruptcy attorney. Those who don’t qualify for a fee waiver may qualify to pay their filing fees in installments.

CONTACT AN EXPERIENCED HENDERSON CHAPTER 7 BANKRUPTCY ATTORNEY

ANSWER:

Once your Chapter 7 bankruptcy petition is filed, you are protected from your creditors by the Automatic Stay. This stops repossessions, foreclosures, utility shutoffs, bank levies, and most evictions and wage garnishments. The protection from the automatic stay lasts until your case is dismissed or discharged, with limited exceptions. Your creditors will be notified of your bankruptcy through your creditor mailing matrix, and therefore know not to proceed with collection.

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ANSWER:

There are two ways to show your income qualifies you for Chapter 7 bankruptcy in Henderson, Nevada. The first is by making less than Nevada’s median income for your household size. For an individual, this is $4,532.83 per month. For two family members, this is $5,817. This increases for each additional family member, but you also must include their income. Adult children do not count towards household size.
The second way to qualify is by using the means test. This will subtract certain expenses from your average monthly income to find your disposable monthly income. If your disposable monthly income falls within a certain range, you will qualify for Chapter 7 bankruptcy. Otherwise, you will need to take additional steps to prove that you should be able to file Chapter 7 bankruptcy, or file Chapter 13 bankruptcy instead.

CONTACT AN EXPERIENCED HENDERSON CHAPTER 7 BANKRUPTCY ATTORNEY

ANSWER:

In Chapter 7 bankruptcy, any assets that aren’t protected by exemptions can be taken by your trustee and sold to pay as much of your debt as possible. Exemptions represent how valuable your assets can be, or how much equity you can have in financed assets. Some states allow bankruptcy filers to use federal exemptions, but Nevada is not one of them. The homestead exemption in Nevada is $550,000. The exemption for a motor vehicle in Nevada is $15,000. There are several other specific exemptions to apply to different types of property. Nevada also offers a wildcard exemption of $10,000 to be used on an asset of the filer’s choosing.

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ANSWER:

A Chapter 7 bankruptcy generally lasts three to six months, although this can vary based on the court’s caseload and other outside factors. You can expect to receive your trustee letter approximately 10-15 days after your filing date, and for your 341 Meeting of Creditors to be 30-45 days after your filing date. Your case will be eligible for discharge 60 days after the 341 Meeting of Creditors.

CONTACT AN EXPERIENCED HENDERSON CHAPTER 7 BANKRUPTCY ATTORNEY

ANSWER:

In Nevada, you must wait eight years between Chapter 7 bankruptcy filings. The waiting period is reduced to six years if you file a subsequent Chapter 13 bankruptcy.

CONTACT AN EXPERIENCED HENDERSON CHAPTER 7 BANKRUPTCY ATTORNEY

ANSWER:

You will need to complete two credit counseling courses to discharge your debts in Chapter 7 bankruptcy. The first course must be taken before your case is filed. You will file your course completion certificate with the court along with your petition. If you are represented by an attorney, most course providers will automatically send your course certificate to your attorney for filing purposes. Your second credit counseling course must be taken within 60 days of your 341 Meeting of Creditors. Most people prefer to take their credit counseling courses online, although some class providers offer phone classes and other methods. Each course should generally take about 1-2 hours to complete. You will also need to pay a nominal fee for each course.

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ANSWER:

Once your attorney has all of your documents, your bankruptcy petition may take up to a few weeks to prepare. Factors like your case’s complexity, how long it takes you to submit documents, etc., could impact the preparation time for your petition. If you are facing an upcoming garnishment, repossession, etc., you may want to consider an emergency filing. This allows you to submit a shorter version of your bankruptcy petition using just basic information and your income from the last 6 months. This allows you to take advantage of the automatic stay more quickly, while you prepare the rest of your petition. You will have two weeks to file the rest of your petition with the court, although your attorney may need the rest of your documents sooner than that in order to draft your petition in time.

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ANSWER:

There are several steps you can take to rebuild your credit, like opening new lines of credit. Financing a new vehicle and opening new credit cards can help add to your credit history. Keeping your balance low with available credit limit can help your score before and after bankruptcy. Additionally, you can also open a secured credit card if you don’t want to open new credit cards just yet. If your attorney offers a Zero Down payment plan, this may also include credit reporting, which will help boost your credit score after your debts are discharged.
Ask our Henderson bankruptcy lawyers about ideas on how to rebuild your credit after filing for bankruptcy. Also, please keep in mind that our Henderson Bankruptcy Office offers $0 bankruptcy filings for everyone filing chapter 7 bankruptcy in Henderson and Las Vegas, Nevada.

CONTACT AN EXPERIENCED HENDERSON CHAPTER 7 BANKRUPTCY ATTORNEY

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Contact our Henderson Chapter 7 Bankruptcy Attorneys Today!

You probably have several additional questions about filing Chapter 7 bankruptcy in Nevada. That’s why our Las Vegas bankruptcy lawyers offer free phone consultations. Check your qualifications, get your questions answered, and receive an affordable quote for representation with payment plan options from the comfort and privacy of your own home. Our Henderson bankruptcy lawyers will help you weigh the pros and cons of bankruptcy so that you can make an informed and confident decision.

Our compassionate and dedicated legal services will help you move forward in life with a clean financial slate. Get started by calling or using our online form to schedule your free consultation today. Our Henderson Bankruptcy Law Office offers both Chapter 7 bankruptcy and Chapter 13 bankruptcy filings. We also offer $0 Down bankruptcy and Emergency bankruptcy filings. Call (702) 899-3328 to get yourself on the way to a “Fresh Start“.

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