Bankruptcy Attorney Las Vegas – Free Consultations and Effective Debt Relief Solutions

Whether you need Chapter 7 bankruptcy or another form of debt relief such as debt settlement, we provide free* consultations and effective legal solutions. Experience transparent pricing, clear communication, and dedicated one-on-one service that clients rave about in their reviews. DeLuca & Associates Bankruptcy Law can help you eliminate stress, stop creditor harassment, and emerge financially on solid footing. Not all debts are dischargeable, however, such as student loans, certain taxes and domestic support obligations.

 

 

 

 

 

 

 

 

 

 

Known as the liquidation chapter of the Bankruptcy Code, Chapter 7 allows individuals to free themselves of debt quickly and inexpensively. It is also available to partnerships, limited liability companies, and corporations.

Once the petition is filed, an automatic stay immediately stops creditors from harassing you by lawsuits, liens, wage garnishments and other collection actions. This stay does not apply to liens placed on the property prior to filing the bankruptcy petition.

A trustee is appointed to review your case. They identify exempt assets (most cases are “no asset”). The trustee may choose to sell non-exempt assets for liquidation and pay unsecured creditors. Creditors are notified of the trustee’s intention to sell assets and given opportunity to file proofs of claim in the bankruptcy proceeding. The trustee is paid a flat fee of $60 for their services and a commission on any proceeds from creditor disbursements.

Chapter 13

DeLuca & Associates Bankruptcy Law Las Vegas can explain the benefits and drawbacks of Chapter 13 and other debt relief options. For example, Chapter 13 bankruptcy is an option for people who make too much to qualify for a Chapter 7 filing or whose disposable income does not cover their non-priority unsecured debts (such as credit card balances).

It also offers the opportunity to reduce mortgage and car loan balances and keep property that might otherwise be lost in a Chapter 7 bankruptcy. In addition, it provides the opportunity for some debtors to pay nondischargeable debts such as tax and support arrearages.

Chapter 13 debtors must propose a repayment plan to the court that lasts five years. A judge then confirms or rejects the plan based on its content and other factors. An experienced Bankruptcy Attorney Las Vegas can help a debtor avoid mistakes in the preparation of this plan and other important documents. A judge’s approval of a Chapter 13 plan will usually stop creditors from trying to collect on the debtor while the debtor is implementing the plan.

Chapter 11

Chapter 11 of the Bankruptcy Code provides a legal framework for business reorganization. It also provides a means for people in debt to reorganize their personal finances and pay creditors over time.

A Chapter 11 case involves a voluntary petition and a plan of reorganization. A court may convert a Chapter 11 case to another chapter or dismiss it, or both.

Bankruptcy Lawyer Las Vegas will carefully evaluate your company’s financial situation to determine if reorganization under Chapter 11 is appropriate for your needs. We can help you develop a realistic and financially sound plan that will ensure your company’s continued existence while resolving outstanding debts.

During the Chapter 11 bankruptcy process, your company will be required to file detailed and often cumbersome Monthly Operating Reports with the U.S. Trustee and the court. Our team can assist you in preparing these reports, ensuring that all post-petition receipts and disbursements are meticulously documented. A court may also grant the DIP the power to assume, reject, or assign executory contracts and unexpired leases, which can be a valuable tool for streamlining operations.