We want you to be completely prepared before you make a decision, so we provide links to the best bankruptcy attorneys in town who will sit down with you to discuss all your possible options. And rest assured, no matter which lawyer you choose, you will have an elite legal professional working on your side day and night so your case can resolve quickly and favorably.
But first, it’s important you learn about the process of filing for bankruptcy in Nebraska and which chapter most suits your needs.
Nebraska Bankruptcy Facts
Bankruptcy is a federal process that involves a declaring their inability to pay off what they owe to creditors. There are a number of different bankruptcy petitions that can be filed in Nebraska, but each one caters to specific kinds of debt. In Nebraska, the two most commonly sought are Chapters 7 and 13. Chapter 7 is also known as “liquidation bankruptcy” because a petitioner’s assets are liquidated in exchange for the discharge of their debt. The other commonly filed petition in Nebraska is Chapter 13 bankruptcy, which is often referred to as “reorganization bankruptcy” because it places debtors on a payment plan to reimburse creditors what they owe.
On the one hand, Chapter 7 is a popular choice because it is available for both individuals and businesses, can be exited quickly and offers debtors a clean slate when it comes to finances. However, not everyone is keen on liquidating their assets, even though Nebraska offers several exceptions to the rule, including the debtor’s home, clothing, heirlooms, and pension accounts.
Chapter 13 may also seem appealing to those who do not want to have their assets liquidated, but only individuals can apply and it can take up to 5 years for petitioners to get out of debt. Also, unlike Chapter 7, reorganization bankruptcy doesn’t allow for debts to be completely wiped out.
Working with a Nebraska Bankruptcy Attorney
With so many choices to choose from when it comes to filing for bankruptcy protection, it can get complicated and frustrating to tackle the challenge alone. That’s where bankruptcy attorneys step in to help. Nebraska bankruptcy attorneys take on every aspect of your case so you can rest easy knowing that your best interests are always being met.
Whether you have incurred debt from unpaid credit card bills, medical expenses, business deals, or even lawsuits, you can trust that you Nebraska bankruptcy lawyer will work diligently to help you obtain debt relief as quickly as possible, no matter how much you owe.
If you are considering filing, contact one of our featured attorneys in the state today to discuss your best options and work with a legal professional that cares about your needs. All of our featured attorneys are credited and have years of successful experience to provide you with the legal counsel you deserve. Call us today o schedule a consultation and be one step closer to debt relief.