Top Reasons to Hire a Bankruptcy Attorney in Las Vegas for Chapter 7 or Chapter 13

Whether you are facing debt problems, foreclosure or need help with a loan modification, DeLuca & Associates Bankruptcy Law has the expertise to get you back on track. Call today to schedule a free consultation!

The firm focuses on bankruptcy law and helps clients understand their options to make confident decisions about their financial future. They provide insight into the process and support their clients through every step of the journey.

Chapter 7 Bankruptcy

A Chapter 7 bankruptcy liquidates a debtor’s nonexempt property for distribution to creditors. This process is typically complete within 4 – 6 months and leaves a mark on your credit report for 10 years.

A trustee is assigned to review your assets. This includes properties like cars and houses, personal items (like jewelry or collectibles), and even money in your bank accounts. A trustee may sell these assets to pay your creditors, excluding those for family support. You can keep a list of property the bankruptcy does not require you to sell, called exemptions, which vary by state.

Under the 2005 Bankruptcy Reform Act, individuals must pass a “means test” in order to file for Chapter 7. A means test is a calculation of the debtor’s current monthly income over the last five years, less certain statutorily allowed expenses and secured debt payments. Creditors of debtors who fail to pass the means test must convert their case to Chapter 13 or seek relief under other provisions of the Code.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is a provision of the federal Bankruptcy Code that allows individuals with regular income to develop a plan to repay creditors over time. This type of bankruptcy also provides protection from foreclosure, wage garnishment and other creditor actions.

A person filing for Chapter 13 must have enough disposable income after paying household and living expenses to fund a repayment plan that pays creditors at least part of what they are owed. A trustee is appointed to oversee the case. He or she evaluates the case and acts as a disbursing agent, collecting payments and making distributions to creditors.

DeLuca & Associates Bankruptcy Law is a Las Vegas bankruptcy attorney who understands how important it is for families to have their debt problems resolved. He takes the time to help clients review their options and determine if Chapter 7 or Chapter 13 bankruptcy is the best choice based on their income, assets and goals. DeLuca & Associates Bankruptcy Law Las Vegas helps clients file to pause collections through the automatic stay, and guides them through the entire bankruptcy process.

Credit Counseling

During a free or low-cost consultation, a credit counselor will help you set priorities and work out a debt management plan. The plan may include paying back all or some of your unsecured debts, negotiating lower interest rates and monthly payments, and eliminating late charges. It may also provide valuable financial education and help you develop a budget that can support your long-term goals.

Credit counseling can also help you avoid bankruptcy. A reputable counselor will take the time to understand your situation and provide advice tailored to your specific needs. Unlike filing for bankruptcy, credit counseling will not negatively impact your credit score.

At Bankruptcy Attorney Las Vegas, we focus on helping people get the fresh start they deserve. Our dedicated team of attorneys has the knowledge and experience to guide you through each step of the process, from understanding your options to achieving a successful outcome. Contact us to get started today!

Loan Modification

Loan modification is a permanent change in the terms of an installment loan (most commonly a home mortgage, auto loan or student loan) to make payments more manageable for individuals struggling with financial hardship. Having a bankruptcy attorney help with your loan modification can save you from foreclosure, lower your monthly payments and stop the suffocating debt that can come with it. Typically, a mortgage loan modification is done as part of a Chapter 13 bankruptcy case and involves status hearings in front of the judge to ensure that your lender is working with you to save your home.

A Bankruptcy Lawyer Las Vegas handles loan modifications with care, providing step-by-step guidance to minimize risks and maximize benefits. The firm maintains a focused practice, developing tailored strategies for personal and business clients that protect assets, reduce debt, and prepare for the future. This includes advising on legal requirements, explaining the impact on credit, and devising strategic plans to help clients recover and rebuild after bankruptcy.