What Kind of Debts Does Bankruptcy Eliminate? In a Chapter 7, almost all unsecured debts (debts not secured by personal or real property) such as medical debt, credit card debt, personal loans, some judgments, payday loans, vehicle deficiencies, mortgage deficiencies, and certain tax debt with certain exceptions such as income tax liabilities for the past …
Hardship Letter
How to Draft a Hardship Letter Be concise, most negotiators have about a hundred files that they are dealing with, so be short, sweet, and to the point. Tell the negotiator your hardship and tell them that you are no longer able to afford your loan payments. Explain that you have no assets with which …
Foreclosure Mediation
The Foreclosure Mediation Program in Nevada If you receive a Notice of Default on your primary residence, you have 30 days to elect to participate in the Foreclosure Mediation Program. If you decide to participate in the Foreclosure Mediation Program, your foreclosure will be put on hold until after the mediation. You can retain our …
Exempt Assets
NRS 21.090 Property Exempt from Execution Private libraries, art, instruments, and jewelry (Up to $5,000) and all family keepsakes (example: wedding ring) Household goods, furnishings, clothing, electronics (Up to $12,000) One vehicle (equity up to $15,000) 75 percent of disposable income (disposable income is defined as income after deductions). One firearm Life Insurance benefits Home …
Wage Garnishments
Can You Stop Wage Garnishment? Yes, garnishment will stop when your case is filed. However, the one exception to this is for child support enforcement suits. Van Law Firm has helped many in the Las Vegas and Henderson community with foreclosure, short sale, bankruptcy, debt settlement, loan modification, and personal injury. Please feel free to …
Stop Home Foreclosure
Can Bankruptcy Stop Foreclosure on My Home? If you have fallen behind on your payments and are facing foreclosure, filing for bankruptcy can stop foreclosure on your home temporarily or allow you to catch up on your payments. Once the bankruptcy is filed, all creditors, including your mortgage company, must cease collection efforts. Your mortgage …
Stop Creditors
Will Filing for Bankruptcy Stop Bill Collectors from Calling? Yes, once you have filed bankruptcy, the Court will notify all your creditors that you have filed bankruptcy and that they can no longer contact you to collect the debt. This process may take a couple of weeks before all your creditors get word of your …
Stop Auto Repossessions
Can You Stop Auto Repossessions? If you file for Chapter 7 Bankruptcy, the bank cannot repossess your car without first obtaining permission from the court. Therefore, you must stay current on your loan before you receive a discharge, or before the court receives permission to repossess your car. Furthermore, if your bankruptcy is successful and …
Get Rid of IRS Debt
Do You Owe Back Taxes? In a Chapter 7 Bankruptcy, you can discharge taxes that are three years old when you have timely filed your tax returns and have not been assessed in the past 240 days. In a Chapter 13, you pay back taxes without interest in your payment plan. Van Law Firm has …