Nevada Bankruptcy Explained
Are you buried in debt? Does trying to stretch your paycheck to cover the bills each month feel like trying to put together a puzzle without all the pieces?
The anxiety that dealing with backbreaking debt causes can hurt more than just your credit score — it can destroy your relationships, your health, and your peace of mind. When you keep falling behind no matter what you try, it can be hard to find the strength to do anything but worry.
Filing for bankruptcy can stop the endless stress and get your family back on the road to financial stability. We’ve helped thousands get the debt relief they need to start over fresh, and we can help you move on with your life, too. Call or text us today at 725-373-5900 to request a free personal debt evaluation with one of our qualified Nevada attorneys.
How Bankruptcy Works in Nevada
To initiate bankruptcy proceedings, you or your lawyer must submit a petition to the nearest district court. As soon as your case is filed, the court will grant an automatic stay that prohibits your creditors from collecting on your debts.
The automatic stay orders creditors to stop collection activities such as:
- Wage garnishments
- Collection calls
Filing for bankruptcy in Nevada can provide the freedom from your debts that you so desperately need. You can finally stop tormenting yourself trying to pay your bills and move on to live a peaceful life.
Types of Bankruptcy
In Nevada, you have two options for consumer bankruptcy: Chapter 7 and Chapter 13. Chapter 7 is a quick and effective way to wipe out debts and start over with a clean slate. While the laws authorize a court-appointed trustee to liquidate some of your assets and reimburse creditors, in practice, this seldom occurs.
Chapter 13 allows you to reduce and reorganize your debt into a 3-to-5-year repayment plan. Instead of figuring out how to pay all your creditors separately, you will make a single payment each month. As long as you follow the payment schedule, you’ll get to keep all of your possessions.
Nevada District Courts
While the bankruptcy courts in many states are divided into different districts, there is only one district in Nevada: the District of Nevada. Within the state, there are two court locations: one in Las Vegas and one in Reno. DebStoppers practices in the Las Vegas area, but we’re licensed to practice statewide.
Contact Us For More Information or Help
A DebtStoppers bankruptcy plan can be customized to fit any family’s debts and goals. We can put an end to your sleepless nights and give you the stress-free life you deserve! Call or text DebtStoppers today at 725-373-5900 to schedule a free bankruptcy consultation with one of our experienced Nevada lawyers.
Life is too precious to waste time worrying about your debt. Don’t hesitate to take your first step towards eliminating anxiety for good. Call or text DebtStoppers today at 725-373-5900 to schedule a no-obligation debt analysis with one of our skilled Nevada attorneys. Don’t lose another second of your life to financial stress!