Archive for the ‘las vegas should i file bankruptcy’ Category

Is a Las Vegas Bankruptcy a Wise Decision?

Friday, October 8th, 2010

The decision to file a personal bankruptcy can be emotionally difficult for many individuals in Las Vegas.  Sometimes these emotions can make it difficult to accurately assess your financial picture.  If you are facing a financial dilemma, it is a good idea to consult with someone skilled in evaluating your finances and obtain advice.  The answer to a financial problem can vary from reducing spending, to increasing income, to selling assets, and finally to reorganizing or liquidating in bankruptcy.

Filing bankruptcy should always be your last good option.  Unfortunately, good people will make bad decisions when trying to avoid this last good option.  Bankruptcy attorneys see people regularly who have made bad decisions regarding their finances in the hope of avoiding bankruptcy.  These bad decisions always make matters worse.  Some of these bad decisions include:

* Borrowing from retirement funds

* Borrowing money from a business, family, or friends

* Misappropriating money, kiting checks, or other illegal activities

* Borrowing from payday loan companies, taking cash advances from credit

* Selling assets that may be protected from creditors

It is true that desperate people do desperate things.  When things get desperate, it is time to consult with an experienced bankruptcy attorney and discover how the bankruptcy process can help you and your family.  Bankruptcy is a legal process that is authorized by the Constitution of the United States.  Its laws are drafted by Congress and a federal bankruptcy judge oversees your case along with a trustee appointed by the Department of Justice.

One goal of the bankruptcy process is to return the debtor to financial health by relieving the burdens of overwhelming debt.  The great majority of debtors never file bankruptcy again and rebuild their financial lives by making good decisions after the bankruptcy discharge.  For these people, bankruptcy provides a second chance.

If you need a second chance and a fresh financial start, speak with an experienced Haines and Krieger bankruptcy attorney and discuss your options.  Call us at 702-880-5554 for a free consultation. Make wise decisions about your personal finances.  The bankruptcy laws help over a million families get a new financial beginning each year, and it can help you too!

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Las Vegas, Should I File for Bankruptcy?

Tuesday, April 7th, 2009

As a premier bankruptcy law firm in Las Vegas, people are constantly asking us whether they should file for individual bankruptcy. To determine whether bankruptcy would benefit these people, we sit down with them and have extensive conversations about what’s going on in their lives. Here are some of the questions we ask:

  • Have your wages been garnished or your bank account attached?

If so, you may especially benefit from a bankruptcy because it stops most garnishments and can release attachments.

  • Do you have a lawsuit pending against you?

Once your bankruptcy petition is filed, most lawsuits are automatically halted. Certain exceptions apply, such as criminal actions, domestic relations lawsuits, actions to collect child support or alimony, and IRS audits.

  • Do you have medical bills and credit card bills?

A bankruptcy filing will help you erase these and other types of unsecured debt.

  • Are creditors and collection agencies calling you at home or work?

Your bankruptcy filing makes it illegal for them to keep harassing you.

  • Do you owe income taxes that you are unable to pay?

In a Chapter 7 case, some or all of your income tax debts will be eliminated. Tax liens will not be discharged, but will be reduced to the extent of your equity in the property. In a Chapter 13 case, you will be able to force a repayment plan for your taxes on the IRS. It may also be possible for you to reduce your tax bills in a Chapter 13 case.

  • Do you need to protect your retirement funds?

Bankruptcy law will shield your retirement plan assets from creditors for unlimited amounts, except for limitations which are placed on certain types of accounts, such as Traditional and Roth IRAs.

Bankruptcy can provide a very welcome new beginning for many people. If you would like to talk to a Las Vegas bankruptcy lawyer about whether bankruptcy is right for you, call us at 702-880-5554. If you are calling from within Nevada, you can also reach us at 702-880-5554.

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