Keep Your Home & Car

Bankruptcy: Can You Keep Your Home and Car?

Your primary questions when considering bankruptcy may be, "Will filing bankruptcy stop foreclosure on my home? Will it stop repossession of my car?" At Nevada Debt Solutions (the Law Offices of Harris Schwartz, L.L.P.) in Las Vegas, bankruptcy lawyers usually are able to help our clients keep their homes and cars. When you file bankruptcy, the court places an automatic stay on foreclosure and repossession proceedings.

Will I have to pay off my mortgage and auto loan?

If you keep your house and car, you will have to pay for them. Filing bankruptcy is intended to help you do that. One factor our attorney will determine is how much equity you have in the house or car. (Equity is the amount you would have left if you sold the house or car and paid off the mortgage or car loan.) If you have little equity, and have been making your payments on time, you may be able to file Chapter 7 bankruptcy and still keep the property.

If you have missed house payments or car payments, or have more equity in the home or car (after depreciation) than is allowed under the exemptions rule, our lawyer may recommend you file Chapter 13 bankruptcy. If you have enough income to make the payments under a debt consolidation or debt reorganization plan, you will be able to avoid the bank foreclosure. You will make one large payment to the court-appointed Chapter 13 trustee.

If you have been served with foreclosure or you have been able to make your payments, it is important to take steps to protect your home and other property before events go further. Contact our Las Vegas office to arrange a consultation with a bankruptcy lawyer and begin to get your life back on track as soon as possible.

Strong Bankruptcy Representation, by an Attorney, at a Fair Price: Call 702.880.Debt

At Nevada Debt Solutions in Las Vegas, you will have access to your attorney, pay reasonable fees and begin to rebuild your life. We provide solutions for your financial challenges.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.