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FAQs
Bankruptcy
Foreclosure Mediation
| Free Bankruptcy Consultation |
Loan Modification
Short-Sale
Chapter 13 Bankruptcy
| Helping you move forward so you can pick up the pieces |
| THE ABOVE IS BY NO MEANS A COMPREHENSIVE ANALYSIS OF THE BANKRUPTCY CODE, NOR IS IT DESIGNED TO REPLACE THE SERVICES OF ADEQUATE LEGAL COUNSEL. PLEASE CONTACT US WITH ANY QUESTIONS YOU MIGHT HAVE REGARDING FILING A CHAPTER 13 BANKRUPTCY |
Chapter 13 of the United States Bankruptcy Code is often referred to as a wage earner chapter, although it
is available to individuals and married couples with regular income from any source, not just wages. If you
have nonexempt property you want to keep which would be subject to sale under Chapter 7, have a regular
income that will allow for both living expenses and making monthly payments, want to strip a second
mortgage, or just want to catch up on missed bills, Chapter 13 may be the option for you. Chapter 13 deals
with the financially distressed individual, who wants to pay back a portion if not all of his or her debts.
We will propose a repayment plan to the Court, whereby creditors are paid over an extended period of time.
The repayment plan is carried out under court supervision and protection. Debtors are permitted to repay
creditors in monthly installments over a three (3) to five (5) year period. During the repayment period
creditors are prohibited from starting or continuing collection efforts. In no case may a plan provide for
payments over a five (5) year period and a plan providing for payments over more than three years must be
for cause and approved by the court. Filing Chapter 13 bankruptcy in Las Vegas will help protect your
assets from foreclosure and repossession. It will also discharge your unsecured debts just like Chapter 7
bankruptcy. In Chapter 13 bankruptcy, you are required to make a monthly plan payment, whereas in a
Chapter 7, after you attend the meeting of creditors and your discharge is approved by the Trustee, you will
be issued an Order of discharge which typically takes 3-4 months to achieve after filing the initial petition.
We will evaluate your entire financial picture and guide you through the Bankruptcy process, so that you
keep the maximum assets under the law and achieve the fresh start that you deserve. Call and make an
appointment with one of our attorneys today.
is available to individuals and married couples with regular income from any source, not just wages. If you
have nonexempt property you want to keep which would be subject to sale under Chapter 7, have a regular
income that will allow for both living expenses and making monthly payments, want to strip a second
mortgage, or just want to catch up on missed bills, Chapter 13 may be the option for you. Chapter 13 deals
with the financially distressed individual, who wants to pay back a portion if not all of his or her debts.
We will propose a repayment plan to the Court, whereby creditors are paid over an extended period of time.
The repayment plan is carried out under court supervision and protection. Debtors are permitted to repay
creditors in monthly installments over a three (3) to five (5) year period. During the repayment period
creditors are prohibited from starting or continuing collection efforts. In no case may a plan provide for
payments over a five (5) year period and a plan providing for payments over more than three years must be
for cause and approved by the court. Filing Chapter 13 bankruptcy in Las Vegas will help protect your
assets from foreclosure and repossession. It will also discharge your unsecured debts just like Chapter 7
bankruptcy. In Chapter 13 bankruptcy, you are required to make a monthly plan payment, whereas in a
Chapter 7, after you attend the meeting of creditors and your discharge is approved by the Trustee, you will
be issued an Order of discharge which typically takes 3-4 months to achieve after filing the initial petition.
We will evaluate your entire financial picture and guide you through the Bankruptcy process, so that you
keep the maximum assets under the law and achieve the fresh start that you deserve. Call and make an
appointment with one of our attorneys today.
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| At Connaghan | Newberry, in Las Vegas, Nevada, we represent clients throughout Clark County, including North Las Vegas and Henderson. We also represent clients in San Diego, California. Please read our diclaimer. |
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