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Who We Are
At Anthem Bankruptcy Lawyers, our attorneys pride themselves on putting our clients’ needs first and finding them the best possible solution for their problems.
Anthem Bankruptcy Lawyers Founding Partner Puneet K. Garg has strong ties to Southern Nevada. He and his parents moved to Las Vegas in 1996. Puneet graduated from Green Valley High School in Henderson, Nevada, and enrolled at UNLV Honors College.
Attorney Anthony B. Golden (“Tony”) is one of the founding members of Anthem Bankruptcy Lawyers. Prior to entering private law practice over a decade ago, Tony served as a judicial clerk to the Honorable Nancy A. Becker during her term as Chief Justice of the Supreme Court of Nevada.
What is Bankruptcy?
The purpose of bankruptcy law is to help people out of financial trouble. Bankruptcy law allows debtors who are acting in good faith to discharge or adjust debts that he or she would never be able to pay. This allows the debtor a fresh start. Once a debt has been discharged under bankruptcy, it has been permanently erased. Creditors and collection agencies are no longer allowed to come after the debtor for money.
Bankruptcy law is federal law that is administered by the United States Bankruptcy Court. The following laws govern all bankruptcies:
- United States Bankruptcy Code,
- Federal Rules of Bankruptcy Procedure, and
- Local rules of the court in which the debtor files the case.
There are six types of bankruptcy cases under the Bankruptcy Code. They are named for the chapters that describe them. For consumers, there are two types of bankruptcy available: Chapter 7 and 13. Your individual situation will determine the type of bankruptcy case you file.
A Chapter 7 bankruptcy is also known as a liquidation bankruptcy. This type of bankruptcy allows a consumer to discharge most ordinary debts. In exchange for the discharge of these debts, the debtor may have to give up some property.
A Chapter 7 bankruptcy does not discharge ALL debts. A Chapter 7 bankruptcy cannot get rid of child support payments, back taxes, student loans, or back payments on a house or car that you would like to maintain. However, a Chapter 7 bankruptcy will discharge things like credit card debt, medical bills, and back payments for a house or car that you surrender.
The Chapter 7 bankruptcy process usually takes four to six months. Not all debtors qualify for Chapter 7 bankruptcy discharge. To qualify for a Chapter 7 discharge, a debtor must pass a “means test" which is based on his or her income.
To learn more about Chapter 7 bankruptcy, click here.
A Chapter 13 bankruptcy is also known as a debt reorganization. In a Chapter 13 bankruptcy, a debtor will fully or partially repay debts through a payment plan that is approved by the bankruptcy court.
A Chapter 13 bankruptcy allows a debtor to keep all or some of his or her property. To obtain a Chapter 13 bankruptcy discharge, a debtor must give all of his or her disposable income to a bankruptcy Trustee for three to five years. The Trustee will use that money to make payments to the creditors.
A Chapter 13 bankruptcy is an option that is typically used by: debtors who have a high income and cannot pass the means test and debtors who have assets that they want to keep.
To learn more about Chapter 13 bankruptcy, click here.
- Bankruptcy might not always be the right solution for you. Before you file a bankruptcy, it is important to consider all of the alternatives.
- Can you negotiate new terms? In some cases, a consumer may be able to call his or her creditor directly and negotiate new terms. You may be able to negotiate a lower interest rate or a repayment plan.
- Do you qualify for a loan modification? If you are a homeowner that is behind on mortgage payments, you may want to reach out to the mortgage company to discuss a loan modification before the foreclosure process begins. In Nevada, you can contact the Nevada Hardest Hit Fund for information about programs that provide assistance to homeowners at high risk of default or foreclosure. You can contact them at 1-888-320-6526. The Nevada Attorney General's Office also has a hotline to educate Nevada residents about housing resources that are available to them, 1-855-457-4638.
- Have you tried consumer credit counseling? There are nonprofit organizations that provide counseling about housing and financial management. One nonprofit organization in the Las Vegas area is Money Management International (formerly known as Financial Guidance Center). At Money Management International, the staff can help debtors work out a debt management program or budget to pay off debt. Please note: do not confuse nonprofit credit counseling organizations with for-profit debt consolidation services that may charge high fees to debtors who don't know that they have better alternatives.
- Can you defend yourself in court? Sometimes your creditor will file a lawsuit against you in court to try to win a judgment against you. If you choose to participate in the lawsuit, you can challenge the debt and the amount owed. If you do not answer the suit, the court may grant the creditor what they requested by default. If you have been served with a complaint, we advise that you speak to an attorney about your options.
- Can you qualify for student loan forgiveness? In some cases, you may be able to obtain forgiveness, cancellation, or discharge of your student loan obligations through a program offered through the U.S. Department of Education. These programs can sometimes help a debtor obtain permanent relief from a student loan that would not be able to be obtained through bankruptcy.
- Are you collection proof? Even if a creditor wins a judgment against you, there are certain categories of income and assets that a credit cannot legally take. For example, if your only form of income is exempt (for example: social security, unemployment, or welfare), you may not need to declare bankruptcy because a creditor would never be able to collect judgment against you.
- Are you protected by the FDCPA? Fair Debt Collection Practices Act (FDCPA) is a federal law that requires debt collectors to treat you fairly. The FDCPA prohibits certain methods of debt collection. The FDCPA prevents debt collectors from contacting you between the hours of 9:00 PM and 8:00 AM and contacting you, your family members, friends, or employer regarding a debt after you have requested in writing that it stop. The FDCPA prohibits debt collectors from using false, abusive, or unfair statements and practices in the collection of a debt. If you believe a debt collector has violated the FDCPA, you should contact the Legal Aid Center of Southern Nevada.
Whether bankruptcy or a bankruptcy alternative is the best option for you is highly dependent upon your individual circumstances. If you have questions about whether bankruptcy is the best option for you, we advise you to speak with an experienced bankruptcy attorney.
More Questions About Bankruptcy?
If you still have more questions that you would like answered about bankruptcy, please see our Bankruptcy FAQs, which are the most frequently asked questions that we get about bankruptcy.
Las Vegas Bankruptcy Lawyers
The award-winning law firm, Anthem Bankruptcy Lawyers, is a team of experienced, dedicated bankruptcy lawyers and case managers based in Henderson, Nevada. We serve clients in Henderson, Las Vegas, North Las Vegas, Summerlin, and Clark County. With over 25 years of experience, Anthem Bankruptcy Lawyers are specialists in bankruptcy law claims. Contact us today at (702) 857-6000 to make an appointment for a free consultation