Consumer Bankruptcy Lawyers in Boulder City, Nevada

Find the right Consumer Bankruptcy attorney in Boulder City, NV

Bankruptcy is a court proceeding which lets a person or business have some or all of their debts discharged. It should usually only be considered as an option of last resort, because it can have serious long-term consequences, even if it can stave off financial disaster. This means that the costs and benefits need to be carefully considered before filing. Being a product of federal law, bankruptcy will go through federal courts. Accordingly, the procedure for filing for bankruptcy in Nevada is basically the same as the procedure anywhere else in the United States. However, individual courts in Boulder City, Nevada will have individual rules for exemptions, so you should speak with a local attorney before filing.

Chapter 7 Bankruptcy in Boulder City, Nevada

There are 2 common forms of consumer bankruptcy in Boulder City, Nevada: Chapter 7 and 13. Chapter 7 liquidates some of the debtor's assets. It requires a certain percentage of the debtor's assets to be sold off to pay as much of his or her debt as possible. However, many types of property that most people own are exempt, meaning that they don't need to be sold. This often includes houses, vehicles, insurance policies, and essential personal items, like clothing. These assets are not available to creditors.

Once the non-exempt property is sold, the rest of the dischargeable debt is absolved. Some types of debt, however, is non-dischargeable, including student loans, criminal fines, and others. If most of your debt in Boulder City, Nevada is not dischargeable, Chapter 7 may not be the best option.

Chapter 13 Bankruptcy in Boulder City, Nevada

Chapter 13 bankruptcy in Boulder City, Nevada is markedly different. It may or may not be a better option than Chapter 7, depending on the facts of your particular case. Chapter 13 does not discharge debt, but restructures it instead. Usually, various debts are consolidated into a single monthly payment. This is designed to make the debt more manageable, giving the debtor the chance to pay off the debt over a longer period of time, without all of it coming due at once. This is usually manageable, as long as the debtor can make some sacrifices.

Which Type of Consumer Bankruptcy Should I File in Boulder City, Nevada

Which Bankruptcy type to file under depends heavily on the facts of each individual case. If you have a steady stream of income (enough to make a payment plan manageable), and a large amount of non-exempt property that you don't want to part with, Chapter 13 may be best for you. If you don't have a steady income or large amounts of non-exempt property, you may be better off filing for Chapter 7.

Whatever your situation, you should speak with a local Boulder City, Nevada bankruptcy attorney. Your lawyer will be able to advise you of your options and their likely consequences, which will help you make a more educated decision.

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Life in Boulder City

Boulder City is a Clark County municipality that is about 20 miles outside of Las Vegas and home to 15,000 residents. Originally constructed as housing for Hoover Dam workers, Boulder City was founded in 1932. To keep workers focused on their work the city prohibited alcohol sales, gambling, and membership in unions. It is one of only two cities in Nevada today that still prohibits gambling and is notoriously known as a speed trap for people passing through to Las Vegas. Unsurprisingly, there are a number of very experienced lawyers in the area. Boulder City lawyers don't only do traffic cases but are actually experienced in many areas of law and practice in many different counties throughout Nevada.  

Money Magazine voted Boulder City the 6th best place to retire in the United States because it has affordable housing, medical care, tax rates, and a great arts and culture life. Boulder City has a total of 202.7 square miles making it the largest city in the State of Nevada. Locals enjoy access to the municipal golf course, pool, racquetball complex, tennis courts, BMX track, hiking trails, and nearby Lake Mead. 

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