Tax Debt Discharged in Nevada
Get Rid of Tax Debt in a Nevada Bankruptcy Bankruptcy may be the best option to eliminate or manage a debt that is more than a few years old. However, the treatment of tax debt in bankruptcy is exceedingly intricate, which is why so many individuals are perplexed. Many people feel that Uncle Sam will never […]
Advantages & Disadvantages of Chapter 7 Bankruptcy Freedom Law Firm
Chapter 7 bankruptcy Chapter 7 bankruptcy is a liquidation where the trustee collects all of your assets and sells any assets which are not exempt. The trustee sells the assets and pays you, the debtor, any amount exempted. (source; nevadabankruptcy.com/chapter7.html) Upsides of Filing Chapter 7 bankruptcy Individuals are protected from creditors as soon as the […]
Nevada Bankruptcy Exemptions & Law
Nevada Bankruptcy Law Although U.S. bankruptcy cases are taking place in federal court under federal law, Nevada has chosen to introduce some of its own rules to protect the property of individuals filing for bankruptcy in the State. creditor protected property is called duty-free property, and should be available to you to continue your life […]
Divorce and Bankruptcy Proceedings in Nevada
Bankruptcy in itself can be a very complicated maze of a process. If you are going through divorce, the whole thing can evolve into an even more complex monster when you take into consideration the issues of community debt and separate debt. Compared to bankruptcy, divorce settlements and orders may not discharge a couple’s obligations […]
Chapter 13 Bankruptcy
Anyone with a regular stream of income who is downtrodden with debt, but is hopeful that these debts can be repaid if given enough time, can file for bankruptcy under Chapter 13 of the Bankruptcy Code. This chapter allows the debtor to file a plan wherein he/she agrees to pay a fraction of future income […]