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Chapter 7 bankruptcies in Summerlin

If you are having money troubles, then you should consult a legal professional to learn about Chapter 7 bankruptcies in Summerlin and whether or not it can help you. There are a few things you should ask yourself in regards to your financial situation to determine if Chapter 7 is the right type of bankruptcy for you. First, can creditors take your wages or property? Most creditors will require a court order to obtain the property or wages. There are certain situations though that will prevent a creditor from taking your money. Let’s say you currently receive social security benefits but are behind on your mortgage. Your income and the property is exempt which means there is nothing for them to take. Next you will need to know if Chapter 7 is even sufficient enough to handle all of your debts. The following are nondischargeable debts: child support, alimony, student loans, income taxes less than three years past due, recent luxury debts and court judgments for injuries. Overall, you need a lawyer to look at your unique situation to help you determine the best route for you. You can contact the Law Office of Neil J. Beller for a leading professional in Southern Nevada.

For those people who have determined that this is the best route for them, they will need to gain a thorough understanding in regards to how to file Chapter 7 bankruptcies in Summerlin. It is an extensive process and can take a long time. You won’t even be sure if the end result is something good for you. First thing’s first is you need to be patient. That is the only way you’ll be able to get things done in the proper manner so that you can hopefully see the end result in your favor. You need to then talk with your legal counsel to get a thorough rundown of how it all works before taking the first step in filing this type of claim. Having a good understanding of what it means to be legally bankrupt will ensure that you are making the right decision. Once you go through with it, you can’t simply go back. Bankruptcy has a long lasting effect on your finances and you’ll want to be sure that you aren’t making a haste decision that you will come to regret. While filing for bankruptcy in general can take a long time, you might be glad to hear that Chapter 7, while still a few months long, is going to be among the quickest type of bankruptcy. If you think this is going to be the best thing for you at this point in time, please don’t wait to get in contact with an attorney you can trust.

  • Chapter 7 bankruptcies in Summerlin