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Posted by Rory Vohwinkel | Mar 03, 2020 | 0 Comments

WHAT CAN I EXPECT IF I FILE BANKRUPTCY? Bankruptcy can seem like a complicated process and while the Federal Bankruptcy Rules are confusing and perplexing, the process doesn't have to be. First, you have to decide what chapter to file. Most people file chapter 7 so this discussion will focu...

Payday Loans - A Vicious Cycle of Debt

Posted by Rory Vohwinkel | Aug 28, 2019 | 0 Comments

A Pay Day Loan is defined as "a small amount of money lent at a high amount of interest on the agreement that it will be paid back when the borrower receives their next paycheck." Consumer advocates and lawmakers strongly urge low income consumers to avoid payday loans. But when it's between havi...

Can I Get Rid of Tax Debt in a Nevada Bankruptcy?

Posted by Rory Vohwinkel | Jun 13, 2019 | 0 Comments

Can I Get Rid of Tax Debt in a Nevada Bankruptcy? If you have tax debt, especially tax debt that is more than a few years old, bankruptcy may be the best option to get rid of it or to make it more manageable. However, how tax debt is treated in bankruptcy is extremely complicated, so it is no wo...

What is a Secured Credit Card?

Posted by Rory Vohwinkel | May 31, 2019 | 0 Comments

When you are overwhelmed by debt, there are a lot of benefits to declaring bankruptcy. Not only does bankruptcy provide a temporary respite from your creditors, but it can also result in the elimination of many of your debts. Unfortunately, a major downside of filing for bankruptcy is the effect ...

Nevada Ranks 15th in Average Credit Card Debt

Posted by Rory Vohwinkel | May 28, 2019 | 0 Comments

Credit card debt is one of the most commonly-cited reasons for many debtors when they choose to declare bankruptcy in Nevada. These debts can pile up quickly given the high interest rate commonly associated with credit cards. And because they represent unsecured debt, debtors with high credit car...

Will a Short Sale Hurt My Credit Score?

Posted by Rory Vohwinkel | May 23, 2019 | 0 Comments

When it comes to avoiding the foreclosure process, one popular alternative to getting out from under a mortgage is through a short sale. In a short sale, your lender allows you to sell your home for less than what is still owed on the mortgage. While this would normally leave a deficiency balance...

Nevada Ranks Ninth in Foreclosures for Q1 2019

Posted by Rory Vohwinkel | May 16, 2019 | 0 Comments

While the worst of the Nevada real estate market collapse brought on by the financial crisis may be long over, a recent study shows that Nevada still has a higher foreclosure rate than the majority of other states. Unsurprisingly, larger states have a larger total number of active foreclosures. B...

Student Loan Discharge May Be More Common Than You Think

Posted by Rory Vohwinkel | May 15, 2019 | 0 Comments

The common belief among those considering filing for bankruptcy in Nevada is that student loan debt can't be discharged upon the completion of your bankruptcy. But the reality is there are debtors each year that are able to obtain a discharge of their student loan debt. The number of debtors that...

What Happens When a Person Dies During Bankruptcy?

Posted by Rory Vohwinkel | May 03, 2019 | 0 Comments

While uncommon, debtors have been known to pass away during the course of a bankruptcy proceeding. For obvious reasons, this can greatly complicate a bankruptcy case. The outcome of the bankruptcy can have a serious impact on the deceased's loved ones and estate, so the outcome of the bankruptcy ...

How does bankruptcy affect life insurance?

Posted by Rory Vohwinkel | Apr 30, 2019 | 0 Comments

When you file for bankruptcy in Nevada, it will affect every aspect of your financial life. Your life insurance policy is no exception. But what happens to your life insurance policy during bankruptcy depends on a few different factors. In some cases, when you receive the proceeds from the life i...

Nevada Bankruptcy Statistics for 2018

Posted by Rory Vohwinkel | Apr 29, 2019 | 0 Comments

Thanks to a variety of factors, including the end to the housing crisis and changes in American health care laws, the number of bankruptcy filings has fallen significantly in the previous ten years. However, these improving numbers don't change the fact that thousands of Nevadans file for bankrup...

Can I Dismiss My Bankruptcy Case?

Posted by Rory Vohwinkel | Apr 18, 2019 | 0 Comments

For most people, declaring bankruptcy isn't a snap decision. If you opted to file for protection under Nevada's bankruptcy laws, you probably thought long and hard about it before filing your petition. And while that might be the case for every debtor, in some instances a debtor may decide that c...

Can I modify my home loan with a tax lien?

Posted by Rory Vohwinkel | Apr 15, 2019 | 0 Comments

If you are a Nevada resident behind on your mortgage, you may be feeling the pressure of a possible foreclosure. The good news is that there are a variety of ways to halt a foreclosure including foreclosure mediation, bankruptcy, or short sales. But one of the underrated methods of halting a fore...

Are VA benefits included in the Chapter 7 means test?

Posted by Rory Vohwinkel | Apr 11, 2019 | 0 Comments

A successful discharge from a Chapter 7 bankruptcy is a great way to get a fresh start financially. This form of bankruptcy is popular because it can resolve in under a year and result in the court wiping out the bulk of your debts. In order to prevent abuse, the bankruptcy code applies a means t...

What is Debt Reaffirmation?

Posted by Rory Vohwinkel | Apr 08, 2019 | 0 Comments

Filing for bankruptcy doesn't mean you have to give up all of your possessions. In fact, in many cases, it is possible for you to keep property like a car even if you still owe money on it. While the bankruptcy process won't allow you to discharge a secured debt and still keep the vehicle, it is ...

Consignment Store Bankruptcy Leaves Customers Confused

Posted by Rory Vohwinkel | Mar 31, 2019 | 0 Comments

In most bankruptcy cases, the process of filing a claim against a bankruptcy estate falls to traditional creditors. That often includes suppliers, lenders, and landlords. But in some unusual cases, consumers find themselves in the position where they hold a claim against a company that has filed ...

How Many Times Can You File for Bankruptcy in Nevada?

Posted by Rory Vohwinkel | Mar 29, 2019 | 0 Comments

If you have decided to declare bankruptcy in Nevada, hopefully it will be the only time in your life you will never need to do so. When you file for either Chapter 7 or Chapter 13 bankruptcy, your goal is to regain control over your financial situation and get a chance to start over. Unfortunatel...

Can Short Sale Prices be Negotiated?

Posted by Rory Vohwinkel | Mar 18, 2019 | 0 Comments

If you are house hunting in Las Vegas, you may have noticed by now that many of the best-priced homes are listed as short sales. A short sale is a when a home owner that currently owes more on a home than its market value receives permission from their lender to sell the home at a loss. In a shor...

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