Paying Off Debt Over Time Can Help You Keep Your Assets
Getting your finances in order is not something that should be done on your own. Making sure you understand your options is an important part of the process. Green Valley Law Group has worked with clients throughout Nevada when making these difficult choices. We are here to help you get back on your feet.
Creating A Repayment Plan That Works For You
Chapter 13 bankruptcy is meant for those who want to pay off their debts over time. This means you can keep your assets, instead of having to sell them off. In order to accomplish this, you must come up with a repayment plan. Over time, you gradually pay off the money you owe to creditors. The court must approve of this plan, and then it is your responsibility to hold up your end of the deal. Coming up with a plan can be tricky, which is where our experienced attorneys step in.
We can assess your situation and discuss what the future may look like. In order for your repayment plan to be approved, there are a number of factors the court will look for. Obviously, the amount of debt you owe is most important. They then will look at your income. If your gross income is below the median income of the state of Nevada, a three-year plan is put into place. If your salary is above the median income, a five-year plan will be put into effect.
To Discuss Your Situation, Call Today
Talking with an attorney as soon as you have concerns is always in your best interest. To learn more about how we can help, call our office in Henderson today at 702-901-6128 or fill out our contact form. Don’t wait any longer.