Dorothy Bunce, A Fresh Start Law, Las Vegas Chapter 13 Bankruptcy Lawyer.

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A Chapter 13 Bankruptcy is often more challenging than a Chapter 7. Even so, a Chapter 13 bankruptcy attorney such as Dorothy Bunce of A Fresh Start Law can guide you through this process. A Chapter 13 Bankruptcy will take more time to complete than a Chapter 7 Bankruptcy because you must make payments to a court-appointed Trustee for up to 5 years. Often, having the protection of the Bankruptcy Court for a longer time is a goal of filing a Chapter 13. For someone needing Chapter 13, this program solves different problems than Chapter 7, such as:

• Chapter 13 provides the opportunity to repay delinquent mortgage obligations and prevent foreclosure.
• Chapter 13 provides the time to repay large tax debts, while preventing the IRS and other tax authorities from seizing your home and other assets.
• Chapter 13 provides a way to eliminate certain debts that cannot be discharged through Chapter 7, such as debts relating to a division of marital property.
• Chapter 13 provides a long-term way to protect yourself from creditors that Bankruptcy cannot eliminated. For example, someone who has to pay an enormous restitution can avoid returning to prison or having their assets seized by paying just what they can afford.

Chapter 13 might be your only choice if you:

• Don’t qualify for Chapter 7, whether due to your income or disposable income amount, or a recent bankruptcy discharge.
• Might lose valuable assets in Chapter 7 that the exemption laws can’t protect.
• Made financial mistakes that violate bankruptcy laws that might harm your family or friends.

Because Chapter 13 is a significant commitment, at A Fresh Start Law, our Chapter 13 bankruptcy attorney, Dorothy Bunce, in Las Vegas, NV, will always urge you to carefully consider how this program will affect you before deciding.

Reasons you might choose Chapter 13 include:

• Chapter 7 won’t eliminate certain debts, and you will still be required to pay these debts. This could include taxes, child support, alimony, debts owed to a former spouse, and student loans. Instead of facing the pressure to repay these obligations in full immediately, you could make monthly payments on them. You might even reduce or eliminate the obligation to pay interest and penalties on these debts.
• Prevent foreclosure or repossession by resuming the monthly payments and catching up on past-due debts with monthly payments. Chapter 13 can provide you with up to 60 months to bring these obligations up to date.
• Stop creditor harassment for up to 60 months, even for debts that Chapter 13 can’t eliminate.
• Make affordable payments on large debts while canceling or reducing any interest obligation. After 60 months, the Court could discharge any remaining debt. This strategy is most effective when a portion of your income is available to pay debts, but there is not enough to pay them all.
• Protect yourself from legal actions, but keep your options open if things change. Anyone that files a Chapter 13 Bankruptcy can dismiss it if they wish, without needing to state a reason why they are doing so. In addition, if circumstances change, it is possible to convert the case to Chapter 7.
• Stop creditors from garnishing your pay, preventing you from paying your living expenses or other obligations for up to 60 months.
• Lowering or eliminating interest so you can afford to repay some of your debts.
• Protect valuable property, such as your business or out-of-state or out-of-country real estate, from being seized by creditors or a Chapter 7 Bankruptcy Trustee.
• You aren’t eligible for Chapter 7, perhaps due to a recent Bankruptcy discharge or because you don’t meet the financial requirements.

Your debts are weighing you down, and you need options. A Fresh Start Law can help you to make this critical decision. If you don’t qualify for Chapter 7 bankruptcy, please consider whether Chapter 13 Bankruptcy or debt settlement is better for you. At A Fresh Start Law, our team, headed by Attorney Dorothy Bunce, can offer you both of these options. Dorothy can clearly explain the advantages and disadvantages of each process so you can make the right decision for you.

Who Should Consider Chapter 13 Bankruptcy?

Someone considering filing a Chapter 13 bankruptcy in Las Vegas and other parts of southern Nevada typically faces problems that are substantially different than those who file Chapter 7. The person filing Chapter 13 often has a higher income. more assets, and their debt problems tend to be different.

When A Fresh Start files a Chapter 13, our clients are immediately is protected by a Court Order called “an automatic stay.” This Order prohibits creditors from contacting you or taking other steps to collect their debt from you. In rare situations, the Court may permit a creditor to proceed with legal action despite the Chapter 13 bankruptcy. However, this is unusual unless it involves surrendering an asset you can’t afford to keep.

Dorothy Bunce, the experienced Las Vegas Chapter 13 bankruptcy lawyer at A Fresh Start Law, can advise if Chapter 13 is right for you.

You may be a good candidate for Chapter 13 bankruptcy if you want help dealing with any of the following problems:

• Stop foreclosure or repossession and catch up on past-due payments.
• Eliminate as much tax debt as possible while repaying whatever tax debt remains, without having to pay additional interest or enormous penalty costs.
• Protecting your valuable assets from being taken to pay your debts that are not protected by exemption laws.
• You have a steady income and can afford to pay some of your debts over time, especially if you no longer have to pay exorbitant interest costs.
• You are not eligible for Chapter 7 because you received a discharge in Chapter 7 during the past 8 years or have money available after paying for your necessary living expenses.
• You want to Stop Creditors from Calling or Texting You Immediately.