With over 50 years of collective experience, the attorneys at Hurtik Law & Associates help clients gain the financial relief they are seeking. Contact us to discuss your options today.
Bankruptcy is a last resort when your debts become unmanageable. Many people view this is a negative thing, and while it is a serious commitment that will take time to recover from, it is ultimately a tool designed to help you. Declaring bankruptcy allows a debtor to obtain a fresh start. Once you’ve filed for bankruptcy, bill collectors can no longer harass you. You will have time to restructure your finances and recover from this situation.
At Hurtik Law & Associates, our experienced bankruptcy lawyers in Las Vegas help clients through every stage of the filing process. We can help you decide which type of bankruptcy is right for you, plan for what happens after you file, and help you set up a plan that will lead to a debt-free life.
Start today with an initial consultation with a Las Vegas bankruptcy lawyer from Hurtik Law & Associates!
When an individual files for bankruptcy, they will usually file for two types of bankruptcy: Chapter 7 or Chapter 13:
Chapter 7 Bankruptcy – The bankruptcy trustee appointed to administer your case will sell any nonexempt property and distribute the proceeds to creditors.
Chapter 13 Bankruptcy – You can keep everything you own. You’ll pay creditors the value of the nonexempt property, your disposable income, or your nondischargeable debt (support obligations, most taxes, and the like), whichever is more, through a repayment plan.
For people who cannot pay their debts, bankruptcy is a saving grace, but it is not to be taken lightly. There are drawbacks to declaring bankruptcy, and it should only be used when absolutely necessary.
This is not a law firm where your case gets buried under a stack. We take the time to educate our clients and empower them to make strategic decisions. The attorney-client relationship is a partnership, and both sides needs to be able to speak freely with each other.
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I needed consultation on a real estate problem I've had for the past 5 years. It concerns a property in Las Vegas. I live in New Jersey and consulted with real estate agents, accountants, and a lawyer, but always felt confused and not able to put this issue to bed. I learned more from Carrie in a 30-minute phone conversation than 5 years of dealing...
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Very professional and caring. Very important when it comes to your private affairs
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“We had heard just how great her legal services were and sure enough, we were not disappointed throughout the BK process.”
When we initially setup up a time and went to her office, apparently there was a mix-up with the time we were supposed to be there. One on the way home, we had a call from the receptionist saying that Carrie really felt bad about that and immediately made time for that day. We had heard just how great her legal services were and sure enough, we were not disappointed throughout the BK process. We have also been recommending her to all of our friends and neighbors accordingly.
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It was the best decision we ever made to consult with Carrie Hurtik. She gave us good, solid advice. She gave us a plan, explain the consequences and benefits. Once agreed, she fought 8 months for our case like no other lawyer wood, to get the best payment structure for us. Her honesty persuaded us to make use of her firm for other legal services as well. Looking back, absolutely no regrets. I would definitely recommend her. Stay away from TV-ad lawyers.
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If you’re considering bankruptcy, you are likely in dire financial straits. You may be choosing between paying down credit card debt and buying groceries. Alternatively, you may be able to make ends meet, but your debt is not getting any smaller because of staggering interest rates. Bankruptcy is a highly effective financial solution for hundreds of thousands of people each year.
But the question most people ask is, “Will it get rid of all my debt?” The answer, unfortunately, is complicated. In general, both Chapter 7 and Chapter 13 bankruptcy can discharge most types of unsecured debt—not secured debt. Unsecured debt is anything that does not have collateral backing, and it can include:
Because nothing serves as collateral, unsecured loans are riskier for lenders, which is why the interest rates are high. Secured debt, on the other hand, is backed by collateral, and the interest rates tend to be lower. With mortgages and automobile loans, for example, the lenders have the contractual right to seize your house or car (via foreclosure or repossession) if you stop making payments.
The Exceptions
Although student loans, child support, alimony, fines/penalties, and tax debt are technically unsecured, bankruptcy courts do not treat them the same way as other types of unsecured debt.
More specifically:
Child support, alimony, fines, and penalties cannot be discharged under any circumstances.
Student loans can be discharged, but only through an adversarial proceeding, where the filer proves they would experience “undue hardship” if they continued paying off their loans. This is generally very difficult to prove.
Tax debt can be forgiven, but only on very rare occasions. Specifically, the government must believe it cannot reasonably expect you to repay the full amount. Unlike other creditors, the federal government can place liens on your property, garnish your wages, and freeze your bank accounts without taking you to court first.
What to Do if You Owe Non-Dischargeable Debt
Bankruptcy might still be a viable option, even if a lot of what you owe cannot be discharged. Chapter 13, for example, can help you catch up on non-dischargeable debt (e.g. mortgage payments, student loans, tax debt, child support, etc.) over the course of a 3-5-year repayment plan. If you fully catch up on arrears by the end of this plan, you can keep your property and discharge qualifying unsecured debt.
Filing Bankruptcy in Las Vegas: Navigating Local Resources and Challenges
Filing for bankruptcy in Las Vegas comes with its own set of unique challenges and opportunities. As a resident of Clark County, you have access to various local resources that can help you through this difficult time. The Clark County Government offers several programs and services that can provide support, including financial counseling and legal aid. Additionally, the U.S. Bankruptcy Court for the District of Nevada is located in Las Vegas, making it convenient for you to attend necessary hearings and file required documents.
One of the most pressing issues for Las Vegas residents considering bankruptcy is the high cost of living combined with fluctuating income, especially for those working in the hospitality and entertainment industries. Many locals struggle to keep up with mounting credit card debt, medical bills, and other unsecured debts. The seasonal nature of employment in Las Vegas can make it difficult to maintain a steady income, exacerbating financial stress.
At Hurtik Law & Associates, we understand the specific financial pressures Las Vegas residents face. Whether you're dealing with the aftermath of a job loss or trying to manage overwhelming debt, our team is here to guide you through bankruptcy. Considering your unique financial situation and the local economic landscape, we can help you determine whether Chapter 7 or Chapter 13 bankruptcy is the right option for you.
Don't let debt control your life. Contact us today to schedule a consultation and take the first step towards financial freedom. Our deep understanding of the Las Vegas area and its economic challenges allows us to provide tailored advice and support, ensuring you get the best possible outcome for your bankruptcy case.
Ultimately, you will need the skills and insight of an experienced legal team to determine whether bankruptcy is the right option for you. At Hurtik Law & Associates, we understand the financial and emotional stress you may be experiencing, and we are committed to putting our experience to work for you. Let us handle the legal aspects of this procedure so you can focus on building a better future for you and your loved ones.
What is the difference between Chapter 7 and Chapter 13 bankruptcy?
Chapter 7 bankruptcy involves the liquidation of nonexempt assets by a
trustee to pay creditors, while Chapter 13 allows individuals to keep
their possessions and pay back debts through a structured repayment plan.
Chapter 7 can provide a fresh start by discharging most unsecured debts,
whereas Chapter 13 focuses on reorganizing debt to make it manageable
over a 3-5 year period.
Can bankruptcy eliminate all types of debt?
Bankruptcy can discharge most unsecured debts such as personal loans, credit
card debt, and medical bills. However, it does not typically eliminate
secured debts like mortgages or auto loans, and certain types of unsecured
debts are also exceptions. For instance, child support, alimony, certain
taxes, and student loans are not easily discharged in bankruptcy.
Is filing for bankruptcy the right solution for managing overwhelming debt?
Filing for bankruptcy can be a viable solution for managing overwhelming
debt, but it's not suitable for everyone. It's important to consider the
long-term implications and whether your debts are dischargeable. Consulting
with a legal team like
Hurtik Law & Associates can provide clarity on whether bankruptcy is the best course of action
for your financial situation.
How can Chapter 13 bankruptcy help with non-dischargeable debts?
Chapter 13 bankruptcy can assist with managing non-dischargeable debts
by incorporating them into a repayment plan that spans 3-5 years. This
plan allows individuals to catch up on arrears for debts like mortgages,
student loans, and tax obligations. Successfully completing the plan can
lead to the discharge of other qualifying unsecured debts while retaining
your property.
