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BANKRUPTCY FAQs
This section is intended to illustrate the case specific nature of bankruptcy. Every bankruptcy case operates under a different set of facts, and these facts may affect the application of the Bankruptcy Code, applicable non-bankruptcy law, and the rights of debtors to various bankruptcy protections. This section is provided for general informational purposes only.
Select the Subject Heading to view all answers relating to a topic.
Don't see your question? Ask the attorney!
▪ Q: Should I try to negotiate my debt with my creditors or set up a debt repayment plan with a credit counseling agency instead of filing for bankruptcy?
▪ Q: What is the most important consideration in debt settlement or negotiation?
▪ Q: In Nevada, must a Declaration of Homestead be filed before the bankruptcy case is filed in order to exempt any equity in my primary residence?
▪ Q: My spouse and I plan to file for divorce. Should I file bankruptcy first or should I wait to begin the divorce proceeding until after filing for bankruptcy?
▪ Q: May I take cash advances or make purchases on my credit cards prior to filing for bankruptcy relief?
▪ Q: What debt is not discharged in bankruptcy?
▪ Q: What is an exemption?
▼ FEES
▪ Q: What is the cost of filing for bankruptcy relief?
▪ Q: What are your Firm's attorney fees for a chapter 7 case?
▪ Q: What other fees apply?
▪ Q: Are the court filing fees waived in certain circumstances?
▪ Q: Are the attorney fees in chapter 13 cases set by the court? Also, how are the attorney fees structured?
▪ Q: Where can I find out more about Nevada's Foreclosure Mediation Program?
▪ Q: What are the benefits of mediating through the Nevada Foreclosure Mediation Program?
▪ Q: What is the foreclosure process in Nevada and can I monitor it online?
▪ Q: My home went into foreclosure and was sold at a trustee sale. Now, my mortgage lender claims I owe a deficiency balance. What is a deficiency balance and what are my options?
▪ Q: How can bankruptcy help me if my home goes into foreclosure?
▪ Q: I owe more than my home is worth. I could afford to pay my bills if I did not have the 2nd and 3rd mortgages on my home. Is it possible to wipe out or strip my 2nd and 3rd mortgages?
▪ Q: Must I list all my creditors and all my liabilities on the bankruptcy petition?
▪ Q: I have had my Chevron gas card forever. I want to keep it. Do I have to list this account in my bankruptcy petition?
▪ Q: I heard that I am required to attend a court hearing regarding my bankruptcy. What is this hearing for and what can I expect?
▪ Q: Where is the §341 Meeting of Creditors held?
▪ Q: What assets do chapter 7 bankruptcy trustees typically collect from chapter 7 debtors and liquidate to pay creditors?
▪ Q: Am I required to have all my financial records including credit card statements, bank account statements, bills, paycheck stubs, and tax returns before filing for bankruptcy?
▪ Q: Must I disclose everything I own (assets) and everything I owe (liabilities) on the bankruptcy petition?
▪ Q: May I file separately from my spouse?
▪ Q: What is the Automatic Stay?
▪ Q: If I am past due on my child support or alimony obligations, will it be more difficult for me to file for bankruptcy?
▪ Q: If I file for relief under Chapter 13, can the plan be modified after confirmation of the plan?
▪ Q: What are some benefits of filing for bankruptcy relief?
▪ Q: Is the meeting of creditors the only investigation undertaken to analyze my financial affairs?
▪ Q: What is the difference between the Office of the United States Trustee and the chapter 7 panel trustee?
▪ Q: Are payday loans really as bad as they seem? Why?
▪ Q: I took out a payday loan over six months ago and have paid interest charges every since. I have paid interest charges totaling more than the original loan but the loan balance never decreases. I cannot afford to pay back the entire loan or pay down the balance because my interest charges are so much. How can I get out of this horrible cycle?
▪ Q: My friend loaned me money to pay my rent, and now I want to pay her back. Am I allowed to do so prior to filing for bankruptcy?
▪ Q: I owe more than my home is worth. I could afford to pay my bills if I did not have the 2nd and 3rd mortgages on my home. Is it possible to wipe out or strip my 2nd and 3rd mortgages?
▪ Q: I owe more than my car is worth. Can bankruptcy help me?
▪ Q: Can I keep my home and car that I am still paying for if I file for chapter 7 relief?
▪ Q: What is a short-sale and should I short-sell my home?
▪ Q: Should I short-sell my home if I need to or intend to file for bankruptcy?
▪ Q: Where can I find additional information on filing for bankruptcy?
▪ Q: Where can I find the bankruptcy forms in order to file for bankruptcy?
▪ Q: What is a bankruptcy petition preparer or preparation service?
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