What our Paradise Debt Relief Attorneys can do for you
Chapter 13 bankruptcy is a great form of debt relief for people in need of saving their home from a foreclosure. Learn more about bankruptcy and foreclosure in Nevada. Not everybody qualifies for chapter 13 bankruptcy relief, however, many people do.
The staff and attorneys at our Paradise Debt Relief law firm can offer debt relief assistance and expert legal representation. Particularly, our firm has successfully handled debt relief cases in Paradise and in the Las Vegas, Nevada area. What is important is the experiences we offer. Experience and knowledge in the Nevada bankruptcy law matters.
There are options when determining the most effective way of dealing with debt. The attorneys dedicate themselves to serving residents of Paradise in order to achieve financial freedom from debt and new beginnings.
When you read more about Chapter 13 bankruptcy process, keep in mind that an attorney and staff at our law firm will be with you every step of the way protecting your rights. We will be with you in court, on top of your schedules and paperwork and document filings and timelines.
How our Paradise law firm can help you with debt relief
- FREE initial consultation – by phone or in office
- FREE initial debt evaluation – no obligation
- A fresh start – you can be debt free
- Experienced and respected attorneys and legal staff
- We will see you through the entire debt relief process
- Affordable rates
- Flexible hours
- A reputation for providing the best legal service and representation in Paradise.
- Care and attention to every case
Nevada Chapter 13 Bankruptcy Process
The Chapter 13 bankruptcy process includes filing a petition, gathering documents and paperwork, submitting schedules to the court, and devising a repayment plan. Also, one must complete a credit counseling certificate before filing. The debtor filing bankruptcy must attend a 341 hearing, or meeting of the creditors at the bankruptcy court.
The Nevada Chapter 13 Plan
The Chapter 13 bankruptcy plan is possibly the most significant document in the process. When the Chapter 13 petition is filed, the repayment plan is also submitted. This plan provides regular payment schedules from the debtor to the creditors. The trustee then distributes the payments to the creditors until the debt is repaid. Though some debts may not be discharged, they may be reorganized in the plan and paid off over a period of time. When does the repayment begin? The conditions of repayment according to the terms of the plan must begin within 39 days after filing the Chapter 13 bankruptcy.
Chapter 13 and Automatic Stay and 341 Hearing
When filing a Chapter 13, an automatic stay goes into effect. This stops creditors from attempting to collect on a debt for the duration of the bankruptcy. Also, an automatic stay prevents foreclosure actions.
The trustee appointed to the bankruptcy case will schedule a 341 hearing. This is also known as the meeting of creditors. In this court proceeding, the debtor answers questions under oath about the bankruptcy case. Usually the questions are regarding schedules and forms. The trustee wants to make sure that the debtor has made accurate and complete disclosure about assets and debts in the bankruptcy. Any interested parties may address problems with the repayment plan.
The trustee collects payments from the debtor upon confirmation and approval of the Chapter 13 repayment plan. Once the payments are received, they are distributed to the creditors.
Completion of Repayment Plan of a Chapter 13 Bankruptcy
When the debtor completes the repayment plan, typically a discharge of their Chapter 13 bankruptcy is issued. Payment plans in a Paradise chapter 13 bankruptcy last between 3 and 5 years and can be as little as $100 per month depending on your income and the amount of debt you have. Contact our Paradise Chapter 13 bankruptcy attorney Erik Severino for additional information.