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CHAPTER 7 & 13 BANKRUPTCY

Overwhelming debt can lead to stress, financial hardship, and depression especially during these pandemic and post-pandemic times.  Outstanding balances and charge-offs on your credit report may result in the lack of opportunities to obtain credit.  Additionally, wage garnishments may make it difficult and even impossible to handle the necessities of daily life.  Fortunately, bankruptcy is a tool that may assist you on your road to debt recovery and financial well-being.  At Holt Law Group our mission is to pair our extensive experience in representing debtors with our passion to assist those seeking debt relief with competent, reliable, and exceptional service.  As we understand that many debtors require immediate relief and may not have all of the legal fees at once to file bankruptcy, Holt Law Group offers manageable payment plans that will allow a debtor to begin the bankruptcy process before completing payment for the applicable legal fees.  At Holt Law Group our total fees for bankruptcy start at $999, which includes the court filing fees. 

 

The most commonly preferred bankruptcy filing is a Chapter 7 liquidation of unsecured debt. Chapter 7 Bankruptcy is an achievable option for those who are experiencing unmanageable debt and are seeking the benefit of freedom and the fresh start provided by the Chapter 7 Bankruptcy Discharge. The typical total length of time for a Chapter 7 Bankruptcy (from the filing of the Bankruptcy Petition to the bankruptcy discharge) is approximately 3 to 5 months.  However, once the Bankruptcy is initiated with the court, an automatic stay is issued which immediately advises all creditors that all foreclosures, lawsuits, repossessions, wage garnishments and collection attempts must stop.  Bankruptcy debtors are also relieved from receiving harassing calls from bill collectors when the case is filed.

 

Chapter 13 Bankruptcy is typically preferable for the debtor who is (1) behind on mortgage payments and desires to retain their home, (2) has valuable non-exempt property pledged as security for debt, (3) is not eligible for discharge under Chapter 7, or (4) has sufficient resources to pay debts but needs temporary relief from creditors to do so.  Identical to the Chapter 7 Bankruptcy, once the Bankruptcy is initiated with the court, an automatic stay is issued which immediately advises all creditors that foreclosures, lawsuits, repossessions, and wage garnishments must stop. 

 

Nevada has generous statutes that allow debtors to keep most to all of their assets when filing Bankruptcy.   At Holt Law Group, we allow debtors optional payment plans in order to help immediately stop foreclosures, lawsuits, repossessions, and wage garnishments while paying attorney’s fees and costs for the bankruptcy.  

 

It is illegal for private or government employers to discriminate against a person as to employment for filing Bankruptcy.  Additionally, it is illegal for any local, state, or federal governmental unit to discriminate against any person as to licensing or permits for filing Bankruptcy.  

 

Overwhelming debt takes an immeasurable emotional and physical toll on individuals and families.  However, Chapter 7 Bankruptcy may provide relief from the growing debt and an opportunity to start over again.  Contact our office today to schedule a free consultation and begin moving on the road to recovery and financial freedom.