Las Vegas Chapter 13 Bankruptcy Attorney 

Potential Benefits of Filing Chapter 13 Bankruptcy

Chapter 13 bankruptcy allows you to reorganize your debts and develop a plan to pay creditors based on your current financial situation. Unlike Chapter 7, filing for Chapter 13 bankruptcy enables you to keep your assets and dedicate a set portion of your regular income toward a court-approved payment plan.

Choosing Chapter 13 bankruptcy means you commit to a structured repayment strategy with several potential advantages. This type of filing lets you manage obligations while retaining important assets such as your home or vehicle. It also allows you to gradually catch up on missed payments, easing immediate financial pressure. In many cases, creditors must stop applying further interest to qualifying debts, making repayment more achievable over time.

Nevada law provides strong protections for property, like the homestead exemption. The current Nevada homestead exemption may allow you to protect up to $605,000 of equity in your primary residence. Leveraging this exemption helps many Las Vegas residents keep their homes during a Chapter 13 bankruptcy, provided they meet state requirements. Using local exemptions and allowances, you can preserve more of your assets as you move through the Chapter 13 process.

4 Benefits to Filing Chapter 13:

1. Save Your Home: In Nevada, you have options for saving your house if you file for Chapter 13. You may propose a payment plan to the Trustee that resumes monthly payments and adds extra to address arrears. Alternatively, you can suggest repaying your arrears over five years. The Mortgage Modification Mediation Program offered by the Bankruptcy Courts allows you to negotiate a loan modification with your lender. Success rates for modifications have approached 70%.
2. Keep Your Car: Falling behind on car payments does not have to result in losing your vehicle. In Chapter 13 bankruptcy, you may be able to extend your car loan term to reduce payments. In some situations, you can modify the interest rate or pay only the car's fair market value over three to five years, if that is less than what you owe.
3. Repay the IRS: Chapter 13 provides options for managing IRS debt. Many filers can halt penalties and interest while paying off tax debts over three to five years. Depending on your case, total repayment amounts may be significantly reduced.
4. Consolidate and Reduce Debt: Chapter 13 allows you to organize all your unsecured debts, including credit cards, medical bills, and personal loans, into a single payment plan. Once you file, creditors must stop accruing interest, and your repayment is calculated based on what you can afford. This often means you repay just a portion of your debt, and sometimes none at all for certain obligations.

Our Las Vegas Chapter 13 bankruptcy attorneys at Fox, Imes & Crosby, LLC understand that each client faces unique circumstances. We take the time to review your options, answer your questions, and stay with you at every step.

We also recognize that unexpected situations, such as medical emergencies or job losses, often lead to hardship. We help you address today’s financial challenges and build a foundation for future stability. Personalized payment plans under Chapter 13 give you peace of mind and a path to financial recovery.

We support clients working across Las Vegas, including those in the local hospitality, entertainment, and tourism sectors who experience income changes throughout the year. Our team tailors your Chapter 13 repayment plan to match your true earning patterns so you can sustain consistent progress.

Reach out to our knowledgeable team today by calling (702) 941-6320 or filling out our short online form to schedule a consultation with our Las Vegas Chapter 13 bankruptcy lawyer.

Eligibility Requirements for Chapter 13 in Las Vegas

To qualify for Chapter 13 bankruptcy in Las Vegas, you must show a steady income. Income can come from wages, self-employment, Social Security, or retirement benefits. You need this stability to maintain your three- to five-year payment plan. Your total secured and unsecured debt cannot exceed $2,750,000 as set by federal bankruptcy law. This limit changes periodically, so you should review your current debts carefully before starting the process.

The bankruptcy court will ask you to list all creditors, assets, income streams, and monthly expenses. You must also complete a court-approved credit counseling course before filing. When filing in the District of Nevada, bring all relevant documentation to the Lloyd D. George U.S. Courthouse for required meetings or hearings. Detailed, honest paperwork helps you avoid delays and build trust throughout the process.

If your income changes with seasonal work—a pattern seen in many Las Vegas industries—let us know. We work with these realities and build realistic payment plans that reflect your situation. Full disclosure and careful records can help your case move forward smoothly.

Comparing Chapter 7 & Chapter 13 Bankruptcy Options

Choosing between Chapter 7 and Chapter 13 bankruptcy means looking closely at how each option shapes your financial future. In Las Vegas, many choose Chapter 13 to keep their home or car, as Nevada’s robust exemption laws protect certain property throughout repayment. In contrast, Chapter 7 may require you to sell some non-exempt assets to pay creditors but offers a quicker discharge for eligible debts.

Chapter 13 works well for those with a steady income who need time to catch up on mortgage or auto loans without losing property. In this process, you repay what you can afford. Chapter 7 tends to work best for individuals who cannot realistically repay debts and have little property at stake. Both options follow strict Nevada and federal rules, but your best choice depends on your financial goals.

• Chapter 13 may work if: You want to keep your house or car, earn a regular income, and can commit to payments under a court-approved plan.
• Chapter 7 may work if: You do not have non-exempt property and lack funds to repay unsecured debts.

Both cases begin at the local bankruptcy court in Las Vegas. Our Chapter 13 bankruptcy attorneys review eligibility, risks, and benefits, using decades of experience to shape the approach that best supports your current and future financial health.

What Are the Limits of Chapter 13 Bankruptcy?

Filing for Chapter 13 bankruptcy is more than just getting rid of debt. It involves restructuring your finances so that you can move forward in your life to begin building a successful financial future. However, like any legal process, Chapter 13 has legal and practical limits and may not fit every case.

Understanding these limits can help you plan more effectively. Debt ceilings may change your ability to keep certain assets or cover regular expenses. Well-informed legal guidance clarifies how local bankruptcy restrictions apply to your specific case. We make sure you understand the requirements and long-term effects of filing, so you can make informed choices.

Not all debts qualify for reorganization in Chapter 13. You must pay some obligations, such as certain taxes, child support, or alimony, in full during your plan period. Nevada’s debt limits can affect high earners or those with significant loans, so a careful debt inventory is an essential first step. If you own multiple properties or run a business, share full details for a thorough review, as those assets and liabilities may influence eligibility and strategy.

5 Limits of Chapter 13 Bankruptcy Include:

1. There are limits to the amount of secured and unsecured debt you can have. The current maximum is $2,750,000 in combined secured and unsecured debt.
2. If you are behind on payments for a house, car, or other property and want to keep it, you must pay all arrears through the plan.
3. If you are behind on home or car payments, ongoing payments must go through the Chapter 13 Trustee, who collects a 10% Trustee Tax.
4. Generally, the IRS will not negotiate with you during Chapter 13; you must pay any Priority Amount in full. Talking with an attorney may help clarify your options—sometimes the Priority Amount is less than your total owed.
5. Chapter 13 limits repayment plans to no more than five years, so you must cover all required debts within 60 months.

How Does Chapter 13 Bankruptcy Work?

Chapter 13 allows individuals to reorganize debts and establish a payment plan to regain control of their finances. If you face mounting debt, our Chapter 13 bankruptcy lawyers in Las Vegas can guide you through the process. Here is an overview of what to expect:

Developing a Chapter 13 plan requires assessing your financial situation, including your budget and ability to repay creditors while maintaining your household needs. This structure encourages disciplined financial management. We collaborate with you to find an approach that accounts for the full context of your situation, not just your debts.

In the District of Nevada, your Chapter 13 plan goes to a bankruptcy trustee in Las Vegas for review and approval. The trustee ensures your plan follows all federal and local rules. We prepare you for any required meetings and hearings so you know what to expect at every step.

1. Consultation: We assess your financial situation—reviewing income, expenses, assets, and debts—to determine if Chapter 13 suits you.
2. Filing the Petition: We help you prepare and file all necessary paperwork, including your petition and payment plan, in the Las Vegas bankruptcy court. Filing triggers an automatic stay that pauses creditor actions such as collection calls or wage garnishment.
3. Repayment Plan: We help craft a payment plan based on your income, usually spreading payments across three to five years.
4. Trustee Oversight: A local trustee reviews the plan and ensures payments go to creditors on schedule.
5. Confirmation Hearing: We attend your hearing, where the court reviews and approves the plan, resolving any creditor concerns.
6. Making Payments: With a confirmed plan, you make regular payments to the trustee, who distributes funds to your creditors.
7. Completion and Discharge: Once the plan ends, the court discharges remaining qualified debts, giving you a fresh start.

At Fox, Imes & Crosby, LLC, we offer services in both English and Spanish to better support our diverse clients. We provide flexible payment plans that fit your budget. With over 50 years of experience, our Chapter 13 lawyers in Las Vegas help guide you toward lasting relief. Contact us today to see how we can assist throughout your Chapter 13 bankruptcy process.

We also offer clear, step-by-step explanations to address the finer points of bankruptcy law. By helping you understand every step, we give you the knowledge and confidence you need to make sound decisions for your future. We build your legal understanding to help you achieve lasting financial health and peace of mind.

Local Nevada Laws & Considerations for Chapter 13 Bankruptcy

Filing Chapter 13 bankruptcy in Las Vegas requires knowledge of state and federal law. Nevada law grants exemptions for property that go beyond federal minimums, impacting what you can keep during and after bankruptcy. Nevada’s homestead exemption, for example, allows you to protect a significant amount of equity in your primary residence from creditors. Understanding how these exemptions work helps you maximize property retention during the bankruptcy process.

Nevada also requires anyone filing for bankruptcy to attend approved credit counseling and debtor education courses. These courses aim to support effective financial management and help you avoid future issues. A Chapter 13 bankruptcy attorney with knowledge of Nevada law can navigate you through these requirements and increase your chance for a smooth court process.

Bankruptcy cases in Las Vegas run through the Lloyd D. George U.S. Courthouse. Local district rules affect the scheduling of hearings and the specific paperwork required. Knowing how the process flows locally can make your path through bankruptcy more efficient and less stressful. Our awareness of local court procedures helps you avoid delays and mistakes.

FAQ: Navigating Chapter 13 Bankruptcy in Las Vegas

What is the Chapter 13 Means Test?

The Chapter 13 means test checks your financial situation to determine if you qualify for Chapter 13 relief. It reviews your monthly income over the previous six months and compares it to the median for your household size in Nevada. If your income is below the median, you qualify to file; if above, the court analyzes your disposable income to see if a repayment plan is possible. Careful calculation of the means test is critical to plan structure and success.

What Happens to My Credit Score After Filing?

Filing Chapter 13 bankruptcy in Las Vegas affects your credit score. The filing remains on your credit report for seven years, typically resulting in an initial drop. By making timely payments under your plan, you start to rebuild your credit. Completing Nevada’s mandatory debtor education course also helps you develop new money management skills for a better post-bankruptcy future.

Can I Keep My Business While Filing for Chapter 13?

If you are self-employed or run a small business in Las Vegas, you may continue business operations during bankruptcy. Your business income will impact your repayment plan and the court’s approval process. Proper planning is important to protect business assets and manage personal and business debts effectively during the case.

How Long Does the Chapter 13 Process Take?

The Chapter 13 bankruptcy process in Las Vegas typically lasts from three to five years. This timeline starts when you file your petition and ends when the court discharges your eligible debts. The process includes preparing documents, court approval, and continuous payments. The extended time allows you to pay what you can afford and offers a fresh financial beginning when it’s complete.

What Are the Costs Involved in Filing Chapter 13?

Chapter 13 bankruptcy comes with costs, including the court filing fee, counseling courses, and legal fees. The court fee in Nevada is about $310, but that may change. Credit counseling and debtor education carry separate costs. Attorney fees are determined by your case’s complexity. We keep pricing clear and provide payment options, so you can plan financially and focus on recovery.

Contact Our Las Vegas Chapter 13 Bankruptcy Lawyers

At Fox, Imes & Crosby, LLC, our Chapter 13 bankruptcy attorneys in Las Vegas have over 50 years of combined, hands-on experience guiding bankruptcy cases. We've helped clients throughout Las Vegas and the surrounding areas find creative and tailored ways to move forward toward a brighter future.

Our firm maintains direct attorney communication throughout your case, offering ongoing support and clear answers. We address your questions, provide straightforward planning, and explain key Nevada-specific legal requirements so you know what to expect. We approach each situation personally, understanding that every client’s finances are unique.

Ready to get started? Call us at (702) 941-6320 or fill out our short online form to schedule a consultation with our Las Vegas Chapter 13 bankruptcy lawyer.