Extending Your Payments Through Chapter 13 Bankruptcy
If you make above a certain income per person in your household, you will not be qualified to file a Chapter 7 bankruptcy in Las Vegas. However, there is still a way to keep the creditors from continuing to hound you. Filing for Chapter 13 bankruptcy allows you to obtain an extension on the payments you need to pay off your debt.
Choosing between Chapter 13 and Chapter 7 bankruptcies in Las Vegas can be difficult and confusing. At May Brock Law Group, our experienced bankruptcy attorneys will take the time to get to know you, your needs and your goals before helping you make an educated decision about filing for bankruptcy.
Chapter 13 Bankruptcy Explained
Depending on your income and how many people you support in your household, you might be unable to file for Chapter 7 bankruptcy. However, there are still options for you if you are inundated with debts and are afraid you won’t be able to pay them off.
To get more leniency with paying back your debts, you can file a Chapter 13 bankruptcy which will give you about three to five more years to pay off your debts. Although a Chapter 13 bankruptcy does not offer as clear of a break for getting rid of debt as a Chapter 7 bankruptcy, it will allow you to pay off your debt.
The Advantages And Disadvantages Of Filing For Chapter 13 Bankruptcy
When you work with the bankruptcy attorneys at May Brock Law Group, we want you to fully understand the process you’re getting into. When you have the information you need to make an educated decision and know what your finances will look like during the Chapter 13 bankruptcy process, you will finally have peace of mind.
Filing for Chapter 13 bankruptcy has many advantages, including keeping your assets, managing your finances yourself and obtaining credit counseling to prevent your debt from piling up again. Some disadvantages include still having to pay your debts instead of discharging them. If you fail to complete your payment plan, your debts will not be discharged, and you may face serious consequences.
Chapter 13 Bankruptcy Guidance You Can Trust
If you are contemplating filing bankruptcy, don’t panic. May Brock Law Group offers bankruptcy consultations so we can give you an idea of what your options are. We don’t want you to feel helpless. If you need to file a Chapter 13 bankruptcy in Las Vegas, call May Brock Law Group at 702-960-1270 or complete our online contact form to schedule a consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.