Nevada Bankruptcy Laws

Locate a Nevada Bankruptcy Attorney

If you currently live in Nevada and are contemplating filing bankruptcy a Nevada bankruptcy attorney will review all of your options.

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

For a consultation with a local Nevada 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 Nevada Exemptions

In your first consultation with your Nevada bankruptcy attorney you will review all of the main differences from Chapter 7 and Chapter 13 bankruptcy.

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

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

However, 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 filing Chapter 7 bankruptcy please discuss about your situation with a Nevada bankruptcy attorney to determine exactly how much property may be exempt from liquidation.

Nevada State Exemptions

Homestead

Up to $550,000 is exempt for real property or mobile home.

Wages

75 percent of weekly earnings or 30 times the minimum wage, whichever is greater.

Automobiles

Up to $15,000 for a vehicle. No limited if equipped for the disabled.

Personal Property

1. Up to $12,000 worth of household goods, furniture, appliances and equipment.
2. Up to $5,000 worth of books, jewelry, musical instruments and works of art.
3. Tools of the trade worth up to $10,000.

Chapter 13 Bankruptcy is also known as “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 individual 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 debtor to repay past bills.

Speak With a Nevada Bankruptcy Attorney Today

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

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

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

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.

Nevada Bankruptcy Attorneys are available in the following areas:

AMARGOSA VALLEY, BEATTY, Blue Diamond, BOULDER CITY, BUNKERVILLE, CAL NEV ARI, CARSON CITY, COYOTE SPRINGS, CRYSTAL, DAYTON, DUCKWATER, FALLON, FERNLEY, GABBS, GARDNERVILLE, GENOA, GERLACH, GLENBROOK, HENDERSON, INCLINE VILLAGE, Indian Springs, JEAN, LAS VEGAS, LAUGHLIN, LOGANDALE, MANHATTAN, MERCURY, MESQUITE, MINDEN, MOAPA, Nellis AFB, NORTH LAS VEGAS, OVERTON, PAHRUMP, RENO, ROUND MOUNTAIN, SEARCHLIGHT, SILVER CITY, SILVER SPRINGS, SLOAN, SMITH, SPARKS, STATELINE, SUN VALLEY, TONOPAH, VERDI, VIRGINIA CITY, WADSWORTH, WASHOE VALLEY, WELLINGTON, YERINGTON, ZEPHYR COVE