Being in debt is undeniably challenging. It can disrupt sleep, strain family relationships, and affect work. However, Las Vegas Debt Settlement can offer a path to eliminate the various types of debt you may face, bringing relief and hope.
You may want to consider Chapter 7 Debt Solutions as a solution if you have:
● Credit card debt
● Collection accounts
● Hospitals or other medical debts
● A business failure.
● A lease you had to break.
● Creditors sued you.
● You owe the IRS taxes from more than 4 years ago.
Chapter 7 Debt Solutions can also solve many other debt problems. At Las Vegas Debt Settlement, attorney Dorothy Bunce will play a crucial role in your case. She will begin by objectively reviewing your debt problems. Some people are eligible for Chapter 7 Bankruptcy, but others are not. Chapter 7 is a blessing for some people but can be a nightmare for others. After thoroughly reviewing your financial situation, only an experienced attorney can say what might happen to you. Answering this question without having the education, experience, and knowledge of the entire situation is guessing. You might as well dance on the edge of a cliff with a blindfold on!
When someone files Chapter 7, the Court issues an Order to your creditors called ‘an automatic stay.’ This Order immediately stops all collection actions against you, including phone calls, letters, and legal proceedings. This powerful benefit is why many select Chapter 7 instead of settling their debts.
Another reason for choosing Chapter 7 is your budget. While settling debts requires someone to pay their creditors something, in Chapter 7, you usually only have to pay your legal fees and the court costs. There usually is no other expense involved. Chapter 7 can immediately stop creditors from contacting you and could be completed in as little as 90 days. If your budget shows you have little or no funds to allocate towards paying your debt, Chapter 7 may be the only realistic solution.
However, for every benefit of Chapter 7, there is a cost. Chapter 7 requires you to perform a lot of work. Work the attorney cannot do for you. You must complete an initial online assessment as required by the Court. You must provide your attorney with copies of your pay and bank records going back 6 months and your tax returns for the last 2 years and answer many personal questions about your finances. You must also meet with the Bankruptcy Court staff to review your paperwork. Finally, you must complete a second online class. If you can eliminate thousands of dollars of debt, doing this work is worthwhile. But some other people don’t feel up to it.
Once your Bankruptcy is completed, Las Vegas Debt Settlement will advise you on ways to rebuild your credit. Surprisingly, recovering from Bankruptcy is often easier and quicker than increasing your credit score after settling your debts. Sometimes, knocking yourself out to repay debts and trying to do the right thing doesn’t pay off. Life can be funny that way.
Of course, there are many ways to solve debt problems. So, the Las Vegas Debt Settlement team will review all your options before recommending one solution over another. During this process, the attorney and the team will explain the benefits and risks of each option to let you decide what’s best. Finally, of course, the attorney will offer her legal advice.
If you choose Chapter 7, remember that our Chapter 7 Attorney Las Vegas, Dorothy, handled her first Chapter 7 case in 1979. Dorothy is a top volunteer on Avvo’s legal advice forum, answering more than 30,000 debt-related questions from people just like you. So, there aren’t many types of debt problems she hasn’t successfully solved in her career.
However, at Las Vegas Debt Settlement, we do not recommend Chapter 7 Bankruptcy lightly. It would be wrong to suggest that Bankruptcy doesn’t come with many repercussions. However, it is true that most of the blowback people fear about Chapter 7 Bankruptcy is due to misinformation rather than reality.
At Las Vegas Debt Settlement, while we make recommendations, choosing the solution is always yours.
