A common concern among people filing for bankruptcy is whether they can retain their car, home, and other assets. In most cases, you can keep your assets if you file for bankruptcy. Nevada laws outline essential assets that an individual should retain even when going through bankruptcy. These are known as exemptions. Assets like your primary residence, car, work tools, household appliances, and some other material possessions can be protected from creditors up to a certain dollar value. At Randolph Law Firm, we can design a strategy that helps you maximize your exemptions in Nevada. Find out m ..read more

There are a variety of steps debtors can take to reinstate Chapter 13 after dismissal in Nevada. Understanding the reasons for dismissal is crucial, as it allows debtors to address the root cause. Typically, debtors must wait 180 days before refiling, emphasizing the importance of utilizing this time to rectify issues that led to dismissal. Filing a motion for reinstatement is the first formal step to revive the case. This involves presenting a compelling argument to the bankruptcy court, demonstrating a resolution to previous issues and a viable path forward. Engaging the services of a skille ..read more

People with student loans and experiencing serious financial constrains may ask: can student loans be discharged in Chapter 7? You can discharge student loans by filing Chapter 7 bankruptcy. It is, however, an arduous task. You must demonstrate undue hardship, the inability to maintain a minimal living standard, to better the chances of your student loans getting discharged. Reviewing the loan’s grace period, consolidating the loan, or enrolling in an income-driven repayment plan are some alternatives to student loan discharge. What Is Chapter 7 Bankruptcy? Chapter 7 bankruptcy allows you to s ..read more

Knowing how to lower your mortgage payment in Nevada can help free up money to address other financial responsibilities, including repaying other higher-interest loans and saving for emergencies. Refinancing to lower your interest rate, requesting your lender to recast your mortgage, and removing your mortgage insurance are some effective strategies for lowering your mortgage payment. Other strategies include loan modification, switching to a more affordable homeowner’s insurance, and disputing your property taxes. The right strategy for lowering your mortgage payment will depend on your uniqu ..read more

Credit card debt often leaves Nevadans with bills that continue to rise while credit scores continue to plummet. After some time of continued missed payments, creditors will turn over unpaid debt to a debt collection agency. Debt collectors will then notify debtors that they have fallen behind on their payments and, if the debt remains unpaid, a lawsuit may be filed. Debtors should be aware that they have multiple options regarding how to handle a credit card debt lawsuit. An experienced credit card debt attorney can help you reclaim your future by using his or her knowledge to navigate the le ..read more

Because the bankruptcy process has so many requirements, it’s important to know what type of questions to ask a bankruptcy attorney before hiring him or her. Millions of Americans find themselves in debt each year, and around 400,000 people filed for bankruptcy in 2021 to try to resolve those debts. Before filing for bankruptcy, it’s essential to understand what the process means for any debts owed, as all your debt may not be wiped away when the bankruptcy has concluded. Because not all debts are eligible for discharge, filing may not always be the best route to try to resolve the debt in que ..read more

People who are struggling to meet their financial obligations every month may find themselves asking, “What is the difference between bankruptcy and insolvency?” Although the two terms are frequently used interchangeably to describe someone in financial distress, they are not the same. While a person who is in bankruptcy is insolvent, someone who is insolvent is not necessarily in bankruptcy.  In 2021 around 400,000 people filed for bankruptcy in the United States with only one state coming ahead of Nevada with the most filings. That number does not reflect the number of people who found ..read more

People seeking a solution to their overwhelming debt may wonder, “How much does a bankruptcy lawyer cost?” The answer depends on the type of bankruptcy you file, your assets, the location of the lawyer, and the time the attorney spends on your case.  Sixty-four million Americans had debt in collections during 2021. Debt that goes to collections can range from student loan debt to medical bills and taxes. In fact, medical bills and unpaid credit card debt are the two debts that are most often sent to collections. These debts also most frequently cause a debtor to consider bankruptcy. The t ..read more

If you are contemplating filing for bankruptcy, you may want to know – how long after Chapter 13 Bankruptcy can you buy a house? More than a million Americans file for bankruptcy each year to help take care of debts they may not be able to pay back. Although not all debts can be taken care of through bankruptcy, filing can often help an overwhelmed debtor ease some financial burden and allow them to get back on track. Unfortunately, bankruptcy affects your credit score and when you might be able to qualify for a loan to buy a house. Understanding bankruptcy basics can help filers make decision ..read more

How much does a debt lawyer cost? If you are struggling with debt and considering hiring a debt settlement lawyer, it makes sense to determine how much you can expect to pay. However, you should keep in mind that paying a debt settlement lawyer will help lower your overall debt load. Over 75% of Americans owe some type of debt or have a past due bill. Home mortgages make up the majority of that debt.  Taking mortgages out of consideration,  around twenty percent of Americans still have some other form of debt. This only becomes an issue when the person is unable to pay what is owed p ..read more