End The Debt-Related Worries By Filing Bankruptcy
At the Law Firm of Laub & Laub, our attorneys have decades of experience helping people in Nevada and California find real freedom from their debt-related concerns. We want to help you, too.
If you want to know whether bankruptcy is the right choice for you, we encourage you to visit our office for "Walk-In Wednesday" and get the personalized legal counsel you need. If you decide to retain us, our lawyers will handle all creditor phone calls, assist in all paperwork, communicate with creditors, attend the 342 creditor's hearing with you and deal with all other bankruptcy issues on your behalf. Don't hesitate to contact us today for the help you need.
Frequently Asked Questions About Bankruptcy
Here are some frequently asked questions and answers that you may find useful:
- What can bankruptcy do for me?
Filing bankruptcy can potentially have many benefits. It will put an immediate stop to harassing creditor calls and wage garnishments. It will also temporarily halt a home foreclosure. In many cases, it can also erase all unsecured debts such as medical bills and credit card debts, giving you the chance to start again.
- What's the difference between Chapter 7 and Chapter 13 bankruptcy?
Chapter 7 is known as straight bankruptcy, or liquidation bankruptcy. This means your assets will be sold, with a few exceptions. In exchange, your debts will be discharged. In order to qualify for Chapter 7, you have to pass a means test (proving that your income and assets fall below a certain level). Chapter 13 involves creating a structured repayment plan to pay back as much as you can over three to five years. Chapter 13 is also a good choice if you want to protect secured assets such as real estate.
- Will I automatically lose everything I own?
No. The law provides bankruptcy exemptions that allow you to keep certain assets, although exemption amounts vary. Exempt property may include cars, work-related tools and basic household furnishings, among other things.
- How can I save my home?
Typically, you have several options to get rid of debt or save your home. Depending on your situation, you may be able to use bankruptcy, loan modification, debt consolidation, credit repair or other tools. We can discuss your options with you.
- Isn't it shameful to file bankruptcy?
This is a common myth. Many people are hesitant to consider bankruptcy because they believe it would reflect negatively on their character. However, even the most upstanding citizens are sometimes faced with unexpected medical bills and other unforeseen debts that they simply cannot pay. Bankruptcy is a completely legal solution to address these kinds of problems. Why not take advantage of something that our country willingly offers?
- Won't it ruin my credit forever?
No, filing bankruptcy will not permanently destroy your credit. Once your debts are discharged or otherwise dealt with through Chapter 7 or Chapter 13, you can start rebuilding your credit score. In fact, bankruptcy may be the fastest and smartest way to get good credit again. You won't have to worry about your credit being continually, negatively affected by your existing debts.
We Offer Flexible Payment Plans
Our fees vary depending upon the complexity of your particular financial situation. We do offer a very unique and flexible payment plan based upon your ability to pay with a small down payment. Call the Law Firm of Laub & Laub in Reno at 775-333-5282.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code