BANKRUPTCY
This is not a good time for you financially and the only way out may be bankruptcy. Whether you have lost your job and can no longer pay your mortgage or your business has suffered due to the economic downturn, we can help you seek debt relief. While the thought may be frightening or unbearable, sometimes it’s the best solution. Nevada Law Group can advise and assist with bankruptcy alternatives in Chapter 7 (liquidation) and Chapter 13 (reorganization), and get you a fresh financial start.
Bankruptcy is a legal vehicle that provides relief to individuals and businesses in serious financial trouble and protects their creditors to the extent possible. Generally, the bankruptcy process assesses the debtor's assets and liabilities and provides a structure within which the debtor is allowed to keep some, and in most cases, all property and ordered to satisfy as many eligible debts as possible, according to an order of priority established by law. Remaining debts are discharged, except those of certain types, like domestic support orders, debt obtained by fraud and most tax debt.
The traditional stigma of bankruptcy has faded and been replaced by the view that it is a fresh start after a time of trouble. Most bankruptcy debtors have experienced unexpected and extreme financial shock, such as that caused by sudden events like a job loss, business failure, death, divorce or illness.
If you are facing serious financial challenges, it is very important to seek the counsel of experienced attorneys, such as Nevada Law Group.
