Bankruptcy

Paving the Path to Financial Freedom

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.

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Las Vegas Bankruptcy Attorneys

Not the End – A New Beginning

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!

Call us today at (702) 323-5750 to request an appointment. You can also contact us online and click here to see what our former clients have to say!

  • I am very happy with the services that Hurtik Law and Associates has provided me and my husband.

    “The best place I know and I will continue to go here. I definitely recommend this place.”

    - client
  • Linda was very patient and accommodating during my Divorce process. I highly recommend her and their group.

    “I highly recommend Hurtik Law Firm.”

    - Kleoh R.
  • I came to Linda with a family law issue, at our consultation she put my major concerns at ease and I found her to be professional, ethical and efficient with our time.

    “As a financial professional those are greatly appreciated and I would highly recommend her services.”

    - Benjamin
  • It was the best decision we ever made to consult with Carrie Hurtik.

    “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 ...”

    - anonymous
  • 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 ...”

    - John
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Types of Personal Bankruptcies

When an individual files for bankruptcy, they will usually file for two types of bankruptcy: Chapter 7 or Chapter 13:

  • Chapter 7 BankruptcyThe bankruptcy trustee appointed to administer your case will sell any nonexempt property and distribute the proceeds to creditors.
  • Chapter 13 BankruptcyYou 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.

What Kinds of Debt Does Bankruptcy Eliminate?

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:

  • Personal loans
  • Credit card debt
  • Medical bills
  • Utility bills
  • Student loans
  • Court-ordered child support/alimony
  • Fines or penalties for fraud or other crimes
  • Tax debt

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.

Let Our Team Assess Your Situation

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.

Call us at (702) 323-5750 or contact us online to schedule a consultation today!

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