Nebraska Bankruptcy Laws

Locate a Nebraska Bankruptcy Attorney

If you live in Nebraska and are thinking of filing bankruptcy a Nebraska bankruptcy attorney will cover all of your options.

Find out, with the help of a Nebraska bankruptcy attorney, whether filing Chapter 7 or Chapter 13 bankruptcy is the right strategy for you.

For a review with a local Nebraska bankruptcy attorney simply fill out the form on this page.

Fill out our 10-second application form and have one of our attorneys contact you!

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Bankruptcy Law and Nebraska Exemptions

In your initial consultation with your Nebraska bankruptcy attorney you will review all of the primary differences from Chapter 7 and Chapter 13 bankruptcy.

In the context of this appointment your Nebraska bankruptcy attorney will ask you many personal finance questions or provide you with a profile sheet to note certain financial details. The answers you provide should assist you and your attorney in deciding if filing Chapter 7 or Chapter 13 bankruptcy is the correct approach.

Chapter 7 bankruptcy is commonly known as liquidation as the bankruptcy trustee may sell or auction non-exempted property (see State Exemptions list below).

Nevertheless, in most of Chapter 7 bankruptcy cases, the person filing bankruptcy owns no non-exempt property, so this would not apply to most filings. If you do not own much property or have many assets Chapter 7 bankruptcy may be the best choice, since you would be allowed to discharge most of your unsecured debt.

Before to filing Chapter 7 bankruptcy please deliberate about your situation with a Nebraska bankruptcy attorney to determine exactly how much property may be exempt from liquidation.

Nebraska State Exemptions

Homestead

Up to $60,000 is exempt for a family residence not to exceed 160 acres.

Wages

1. 85 percent of the wages of your head of household.
2. 75 percent of wages for non-heads-of-household.

Automobiles

Up to $2,400 for a vehicle if used by or in your commute to your main business or trade.

Personal Property

1. Up to $2,500 worth of any personal property.
2. Up to $1,500 worth of household possessions.
3. Up to $2,400 worth of trade tools, implements, professional books, supplies.
4. 100 percent of the value of all professionally prescribed healthy aids.

Chapter 13 Bankruptcy is also dubbed “reorganization”. Those filing Chapter 13 may own more property and by filing Chapter 13 may also keep most of their assets.

In Chapter 13 bankruptcy, the debtor draws up a proposal for a repayment plan for a term of 3 to 5 years, which must be approved by a bankruptcy court. This plan allows the filer to repay outstanding bills.

Speak With a Nebraska Bankruptcy Attorney Today

If you have ever viewed filing bankruptcy in Nebraska as an option but have not filed because you did not know where to begin or felt bound by the complexities of the bankruptcy laws.

To answer all questions about the bankruptcy laws, a Nebraska bankruptcy attorney will be able to guide you through the bankruptcy process in common terms. When you contact a Nebraska bankruptcy attorney you will also be able to have many of your questions and concerns answered in the first appointment.

Take the stress out of finding a good Nebraska bankruptcy attorney. Just complete our bankruptcy questionnaire on this page and we will direct you to a Nebraska bankruptcy attorney in your area.

Note: This is not legal advice. All bankruptcy laws in any state need the consult of a bankruptcy attorney licensed in that state. Consult a local attorney if you are seeking legal advice. Some or all bankruptcy laws may have changed since this page was created.

Nebraska Bankruptcy Attorneys are available in the following areas:

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