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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:   Is it possible to discharge student loans through bankruptcy?


▪  Q:  What is an exemption?


▪  Q: What is the cost of filing for bankruptcy relief?

▪  Q:  What services are generally provided by bankruptcy attorneys?

▪  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 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:  Are there any restrictions on how payday loan companies operate (such as the amount of credit that can be extended, number of loans that can be given, collection practices of the company if a customer defaults on a loan, etc.)?

Q:  If I default on my payday loan, will I have to pay the contract interest rate (300% or more) forever?


▪  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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Dawn Papaeliou, Esq.