Bankruptcy

Premier Bankruptcy Attorney in Henderson, NV

$0 Down Bankruptcy w/ Free Consultation

If you are looking for a bankruptcy attorney then you are looking for a solution to financial problems. We specialize in bankruptcy law here in Henderson and Las Vegas, NV to help ease the burden that you may be in at the moment. We handle chapter 7 bankruptcy and chapter 13 bankruptcy and have been doing so for over 10 years.

We are sensitive to the needs of our clients particularly during this pandemic and have reopened to serve you. We understand how stressful this time is and are happy to discuss your options with you to relieve your stress. If you are more comfortable consulting “virtually” we have the willingness and capability to do so.

We offer a simple and clear $0 down bankruptcy for clients starting with TruLaw. Bottom line is we want to help you get out of financial turmoil and give a clear path to a true solution to your problems.

Award Winning Bankruptcy Attorney in Henderson & Las Vegas.

TruLaw is lucky enough to have Matthew McArthur on staff to help bring 12+ years of bankruptcy attorney experience in Las Vegas and Henderson, Nevada to the team.

No matter the area of law that is being practiced by TruLaw we aim to make sure we have a simple and easy process for our clients. Trulaw will focus on you and make sure we deliver professional results for you everytime guaranteed.

Our Bankruptcy Pricing – Lowest Price Guarantee

Bankruptcy FAQ’s

Will you file my bankruptcy with $0 down?

Yes. We can file your bankruptcy case with $0 down. You will enter into an agreement where you will pay the attorney fees over the course of 12 months. For a basic chapter 7, the repayment plan will be $166 per month.

Will bankruptcy affect my credit?

Before filing your bankruptcy case, we run a credit report that shows your current score, and a projected score where it is expected to be 12 months after the bankruptcy. By doing this, you know just what to expectBased on our own observations, the vast majority of people filing for Chapter 7 bankruptcy see a significant improvement. While the precise calcuations of the credit scores are a trade secret, it is very likely due to do removing the outstanding balances owed that improves the overall scoreIf you come into bankruptcy with an excellent score, however, you may experience a drop in the score.

How long will a bankruptcy appear on my credit report?

A Chapter 7 bankruptcy will be visible for up to 10 years and a Chapter 13 for up to 7 years; however, merely showing on your report does not mean that a good score is out of reach. Most people who file a bankruptcy are able to improve their credit to an excellent rating within two years, allowing them to be able to finance and purchase a home. Cars can be financed much sooner after a bankruptcy is filed. In many cases, it can be done immediately after the case is closed.

What is the difference between chapter 7 and chapter 13?

Virtually all consumer bankruptcy cases are filed under one of two “Chapters” of bankruptcy–Chapter 7 or 13.

Chapter 7 cases account for approximately 88% of all bankruptcies filed in Nevada, so it is by far the most common type of bankruptcy. A Chapter 7 is usually the quickesteasiest, and cheapest form of bankruptcy. In this type of case, debts are eliminated through what is called a discharge. It typically takes three to four months, does not require monthly payments, and the attorney fees are usually much lower than any other type of bankruptcy. On the other hand, property that has value and is not exempted must be turned over to a trustee, who sells it to pay your creditors. Many people are able to complete a Chapter 7 without turning over any such assets. An attorney can advise you on whether you can expect to keep your property or not. This is the type of bankruptcy that most people think of when they consider bankruptcy.

The next most common type of bankruptcy case is Chapter 13. These cases are payment plans where part or all of your debt is repaid over a time period typically lasting between 3 and 5 years. You typically get to keep all of your property without being concerned that the trustee will take it. Because of the length and increased complexity of the case, the cost of the bankruptcy itself is greater than a Chapter 7, both in attorney fees and in trustee fees, but these fees are usually paid through the monthly payments. Some people file a Chapter 13 because they filed a Chapter 7 that resulted in a discharge within less than eight years. A Chapter 13 also results in a discharge upon completion of the plan payments, and often a person who files a chapter 13 pays less than what they owe.

How much debt does a person need to have in order to file bankruptcy?

There is no minimum amount of debt required in order to file bankruptcy. The decision to file is usually based upon whether a person qualifies for a given chapter of bankruptcy and whether they want to. In determining whether a person wants to, important factors include the level of stress felt under the burden of the debts, whether they can afford necessities and pay debts, the likelihood that the person can pay off or settle their debts in the not-too-distant future, their debt to income ratio, and many other reasons. An attorney can help you consider these factors and offer advice.

What is the credit counseling course?

It is a course or class that provides an analysis of the client’s current financial situation, a discussion of the factors that contributed to the client’s specific financial situation, and a plan to address the client’s financial situation without incurring negative amortization of debt. It can be completed by phone or the internet but the client must engage in live interaction with a counselor following the Internet or automated telephone portion of the counseling.

All individuals who file bankruptcy must complete this course and obtain a certificate of completion that is filed after they file bankruptcy.

How Often can A Person File For Bankruptcy?

A Chapter 7 bankruptcy petition can be filed once every 8 years. This is from the commencement of the filing, not the discharge date. A Chapter 13 can be filed every 2 years in most cases.  However, you must wait 4 years to file for chapter 13 bankruptcy after filing a chapter 7 bankruptcy.  A Chapter 13 can be filed 4 years after the filing of a Chapter 7 and you still receive a discharge.

Do you guarantee the lowest price available?

Yes. If another law firm offers you a lower price, we will beat it. We are committed to providing the most affordable bankruptcy case possible all while providing you with best service possible.

How long will it take for me to qualify for a mortgage to buy a home after filing bankruptcy?

As a general rule of thumb, there is a two year waiting period after bankruptcy in order to qualify for a mortgage loan. Different types of loans offered by various lenders may affect the actual wait time.

What is the median income & why does it matter?

Generally, if your annual gross income is less than the median amount for your household size, then you are very likely eligible for chapter 7. On the other had, your annual income exceeds the median income, your bankruptcy options may be limited to filing a chapter 13 where you are required to repay some or all of your debt in a repayment plan typically lasting 3-5 years.

Do I make too much money to file bankruptcy?

There is no minimum or maximum amount of income to file a bankruptcy, but what matters greatly is the amount of disposable income that remains after expenses that are reasonable and necessary for the support of you and your dependents. If you have disposable income, you will likely be required to file a Chapter 13 or 11, but if you do not, you may qualify for a Chapter 7 bankruptcy. In a Chapter 7 or 13 bankruptcy, you will usually be required to prepare and file a form referred to as the “Means Test” that helps determine what your disposable income is. Because the correct preparation of this document requires skill and experience, we recommend that you contact an attorney to determine which Chapter of bankruptcy is best for you.

Do I have to file bankruptcy with my spouse if I am married?

There is no bankruptcy rule that requires married individuals to file a bankruptcy case with their spouse. In fact, it is quite common to see married couples maintain separate finances to the point where one spouse is in need of bankruptcy relief, while the other spouse would be just fine not declaring bankruptcy. One important note, however, is that while the filing spouse’s bankruptcy will generally not affect the non-filing spouse’s credit or liability for debts in only their name, the non-filing spouse’s income and assets could affect the filing spouse’s experience in a bankruptcy case in community property states like Nevada. Be sure to discuss this matter with a bankruptcy attorney if you are a married individual considering filing bankruptcy.

Can I finance a car during my bankruptcy?

It depends on the lender and your credit history prior to the bankruptcy, but there are auto dealers and lenders who advertise to and offer loans to individuals during a bankruptcy; however, the interest rates are usually above average. In a Chapter 7 case, there is no need to get your attorney or the court’s approval, but in a Chapter 13 case, approval must be obtained through the court, with which your attorney can help you. There are more dealers and lenders who will work with individuals as soon as the bankruptcy is closed.

Can I file a bankruptcy on my own without an attorney?

Yes, but there may be pitfalls that you will not realize until it is too late. Someone who represents themselves in a legal matter is considered “pro se” (pronounced “pro say”). There are pro se debtors who successfully obtain a discharge, but we have observed that pro se filers obtain a discharge at a much lower rate than those who are represented by an attorney, they often end up paying more in the loss of assets for failure to do exemption application and planning, and they often discharge less due to the timing of the bankruptcy-recent debts and some tax debts can be tricky to deal with. Sometimes creditors bully pro se debtors because they recognize that such debtors do not know the law. A person who is a “petition preparer” can fill in blanks in a petition for you but cannot give you any legal advice, so they will not help you avoid the above pitfalls or guide you through the process like an attorney will. Even the United States Trustee, who is the government department that oversees our nations bankruptcy program, states on their website that “a bankruptcy filing may raise complex legal issues, so it is often advisable to consult with an attorney.”

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