Chapter 7 Bankruptcy
Bankruptcy under Chapter 7 is a process in which most forms of consumer debt are completely eliminated. There are no payments in a Chapter 7 Bankruptcy, however, you must qualify based on your income and expenses. With proper planning, most people keep all of their property, including their home and car.
Millions of individuals and married couples have filed for Chapter 7 Bankruptcy to put an end to creditor harassment and have obtained a financial fresh start. Chapter 7 can eliminate:
- Credit Card debts
- Payday Loans
- Deficiencies on Foreclosures and Repossessed Vehicles
- Certain Income Taxes
- Medical Bills
Certain debts are not eliminated in a Chapter 7. Examples of non-dischargeable debts are recent income taxes, alimony, child support, educational loans, debts incurred by fraud, judgments for injuries due to driving under the influence.
You may retain your home and vehicles in a Chapter 7 Bankruptcy, however, if such property is subject to financing, then you must continue to make the payments and may be required to re-affirm the debt on the vehicle. The Law Office of Rodney K. Okano will guide you through the entire Bankruptcy process.
To speak with a Bankruptcy Attorney about a Chapter 7 Bankruptcy or Chapter 13 bankruptcy, contact the Law Office of Rodney K. Okano in Las Vegas, Nevada. For assistance, call 702-979-2903.
Bankruptcy in Nevada
Filing for Bankruptcy in the State of Nevada allows for generous protection of property. Residents of the State of Nevada (2 years or more) are permitted to keep up to $550,000 in equity in their personal residence (dependent on length of ownership and other qualifications).
Nevada Residents may also protect one vehicle up to $15,000 in equity. A married couple may protect two vehicles, up to $15,000 each or $30,000 on one vehicle.
People who file for bankruptcy in Nevada may also protect their 401(k) retirement accounts and most protect all of their household furnishings.
Call 702-979-2903 to Contact a Nevada Bankruptcy Lawyer
To schedule a free consultation with an experienced Bankruptcy Attorney at the Law Office of Rodney K. Okano, call 702-979-2903 or contact us by e-mail. We have handled more than a thousand bankruptcy cases and are ready to put our experience to work for you.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
