Las Vegas Chapter 7 Bankruptcy
Las Vegas Chapter 7 Bankruptcy Lawyer | Las Vegas Chapter 7 Bankruptcy
Las Vegas Chapter 7 Bankruptcy of the United States Bankruptcy Code is the Bankruptcy Code’s “liquidation” chapter. Las Vegas Bankruptcy Attorneys sometimes refer to it as a “straight bankruptcy.” The basic purpose of chapter 7 is to provide you with a fresh start by wiping out all qualifying debts including credit cards, medical bills, repossession deficiencies, law suits as well as a variety of other debts.
Upon the filing of chapter 7 bankruptcy petition, an impartial bankruptcy case trustee is appointed by the United States bankruptcy trustee to administer the bankruptcy case and liquidate the debtor’s nonexempt assets.
Las Vegas Bankruptcy lawyers Aaron & Paternoster can help with the process. In chapter 7 there is no repayment required for most unsecured debts, your debts are wiped out completely and permanently. In about 99% of chapter 7 cases, the consumer keeps all property, and eliminates most debts.
The entire process usually takes less than 4 months to complete. After the bankruptcy is over, the consumer may choose to selectively pay back debts, such as debts to family members, however repayment is not legally required.
For more information on your specific bankruptcy case please call (702) 384-4111 for a free confidential bankruptcy case evaluation.
