Discharging Debt Lawyer Las Vegas, NV
If you have found it impossible to catch up on overdue bills and are overwhelmed with your financial burden, a discharging debt lawyer from a respected Las Vegas, NV law firm may be able to help. At Ball Bankruptcy, we have helped many people in this position. Seth Ballstaedt is an experienced lawyer who has represented thousands of clients in various forms of bankruptcy cases. Learn how he can help you consolidate your debt or even discharge a significant amount of it. Give him a call today and request a no-obligation consultation.
Understanding What Qualifies as Dischargeable Debt
There are several categories of bankruptcy actions, and two primary types of debt: non-dischargeable and dischargeable. When a debtor’s financial obligations are discharged, those specified debts are no longer owed by them. However, not all types of debt can be discharged in this way. As such, debt collectors can no longer pursue repayment from the individual.
Understanding What Qualifies as Unsecured Debt
Unsecured debt can be discharged during a bankruptcy action with the help of a discharging debt lawyer in Las Vegas, NV such as Seth Ballstaedt from Ball Bankruptcy. Unsecured debts are not backed by collateral put forth by the debtor. Generally speaking, credit card debt is unsecured and is thus eligible for discharge under bankruptcy laws. An exception is credit cards which are secured by cross-collateralization by a credit union that issued the card, or if the debtor signed a secured contract for the card. To determine if your debt is unsecured and substantial enough to make bankruptcy a feasible option, contact a Las Vegas bankruptcy lawyer.
What Other Types of Debt Can be Included in a Bankruptcy?
In addition to credit card debt, other forms of financial distress may be cause to pursue bankruptcy. Everyone’s situation is different, but the following are common sources of debt that force many to fall behind in their financial obligations:
Medical Treatment Costs
If you suffered a serious or catastrophic injury, the amount of medical debt you incurred as a result may be substantial, perhaps in the hundreds of thousands of dollars or more. Healthcare costs or prohibitive for many, even those with insurance because of copays and deductibles. A Las Vegas, NV discharging debt lawyer can review your healthcare related debt and determine if they are eligible for bankruptcy relief.
If you have personal loans that you are unable to pay back, then bankruptcy may be an option for you. By discharging them in a bankruptcy, you can be free of the term payments as well as the accruing interest associated with those loans.
Learn More About Your Options
Bankruptcy law is complicated. Though there are several types of bankruptcy actions, one may be better for your situation than others. Talk to a legal professional who specializes in these types of legal cases. Call a discharging debt lawyer in Las Vegas, NV who you can trust—call Seth Ballstaedt of Ball Bankruptcy and request a free consultation.