Las Vegas Chapter 13 Bankruptcy

Filing for Chapter 13 Bankruptcy.Chapter 13 Bankruptcy is a process where a plan is proposed to pay general unsecured creditors based on your ability. Regardless of the amount paid, so long as you pay what the law says you can afford, all of the general unsecured debt is eliminated. Many people file for Chapter 13 Bankruptcy because they have the ability to pay some, but not all of their debt. A Chapter 13 Bankruptcy has additional benefits that are not provided for under Chapter 7.

Eliminate 2nd and 3rd Home Mortgage with a Chapter 13 Bankruptcy

Chapter 13 Bankruptcy can “strip-off” and eliminate your 2nd and 3rd mortgage from your home. If the value of your home is less than what you owe on your 1st mortgage, you may be eligible to eliminate your 2nd and 3rd mortgages and/or home equity loans. This option may save you tens of thousands of dollars and may save you the trouble of a loan modification. Visit our 2nd and 3rd mortgage page to learn more.

Cure Past Due Home Mortgage and Automobile Payments

Chapter 13 Bankruptcy is effective in handling past due home and/or automobile payments. While unlike 2nd and 3rd mortgages, the Bankruptcy Law does not allow for the removal or alteration of the 1st Mortgage. However, to save your home from foreclosure, our attorney will formulate a plan for you to make manageable payments on the past due portions over the course of 3 to 5 years. Furthermore, we will propose the repayment at zero percent (0%) interest.

Pay the Value of Your Vehicle not the Amount Owed

If you financed your vehicle, the chances are that you are upside down on it, that is you owe more than it is worth. Chapter 13 Bankruptcy may allow you to pay the fair market value of your vehicle regardless of how much is owed. If you purchased your vehicle over 910 days prior to filing for Chapter 13, this option may save you thousands of dollars.

Keep Property That You May Lose in a Chapter 7 Bankruptcy

Chapter 13 Bankruptcy serves as an option for people to file for Bankruptcy and retain property that they would lose in a Chapter 7 bankruptcy. A plan will be formulated to manageably pay the value of such property over the course of 3 to 5 years.

To schedule a free consultation with a Las Vegas Chapter 13 bankruptcy lawyer, call (702) 566-3600 or contact us via our contact form.

We are a debt relief agency. We help people file for chapter 13 bankruptcy relief under the Bankruptcy Code.


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