Filing Chapter 7 Bankruptcy
Our Las Vegas Bankruptcy Attorney Can Help
Bankruptcy under Chapter 7 is a process in which most forms of consumer debt are completely eliminated. There are no payments in a Chapter 7 bankruptcy, however, you must qualify based on your income and expenses. With proper planning, most people keep all of their property, including their home and car. At the Law Office of Rodney K. Okano, we help clients understand their legal options when it comes to filing Chapter 7 bankruptcy in Las Vegas or the surrounding areas.
Find out how we can help you—schedule your free consultation with a Las Vegas bankruptcy attorney by calling the firm at (702) 903-1446.
Should You File Chapter 7 Bankruptcy?
Millions of individuals and married couples have filed for Chapter 7 bankruptcy to put an end to creditor harassment and have obtained a financial fresh start.
Filing Chapter 7 bankruptcy can help you eliminate:
- Credit card debt
- Payday loans
- Deficiencies on foreclosures and repossessed vehicles
- Certain income taxes
- Medical bills
Certain debts are not eliminated in Chapter 7. Examples of non-dischargeable debts are recent income taxes, alimony, child support, educational loans, debts incurred by fraud, and judgments for injuries due to driving under the influence. When considering if you should file for bankruptcy, only an experienced attorney can help you fully understand your options. Our firm can help you find a solution that’s best for you. We have handled more than a thousand cases and are ready to put our specialized experience in Chapter 7 Bankruptcy to work for you.
Filing for Chapter 7 Bankruptcy in Las Vegas
You may retain your home and vehicles in a bankruptcy, however, if such property is subject to financing, then you must continue to make the payments and may be required to reaffirm the debt on the vehicle. The Law Office of Rodney K. Okano will guide you through the entire process.
Filing for Chapter 7 Bankruptcy in the state of Nevada allows for generous protection of property. Residents of Nevada (2 years or more) are permitted to keep up to $550,000 in equity in their personal residence (dependent on the length of ownership and other qualifications). Las Vegas residents may also protect one vehicle up to $15,000 in equity. A married couple may protect two vehicles, up to $15,000 each or $30,000 on one vehicle. People who file for a Chapter 7 in Las Vegas may also protect their 401(k) retirement accounts and most protect all of their household furnishings.
To schedule a free consultation with an experienced Bankruptcy Lawyer at the Law Office of Rodney K. Okano, call (702) 903-1446.