Tag Archives: Reno
Will Your Student Loans Lead to Bankruptcy?
Receiving a college education is one of the most important – and expensive – life goals to accomplish. However, overwhelming debt often becomes the high price of education. In the current economic climate, jobs are harder and harder to come by. Young adults today face thousands of dollars’ worth of debt, with no way to […]
Jose Canseco Files for Chapter 7 Bankruptcy in Nevada
Former Oakland Athletics slugger Jose Canseco has filed for bankruptcy in Nevada. Seeking asset liquidation under Chapter 7 protection, Canseco’s petition lists less than $21,000 in assets and almost $1.7 million in liabilities, including more than $500,000 owed to the Internal Revenue Service (IRS). If you are experiencing serious debt, it may be time to […]
What Happens if a Debtor Dies During Bankruptcy?
If a debtor passes away during any type of bankruptcy filing, the proceedings can continue as if the debtor was still alive. The case does not automatically end and the debts are still owed to creditors until a discharge is granted. Only an automatic stay prevents creditors from pursuing payment from the debtor’s estate. If […]
Secured versus Unsecured Debt
Various types of debt are treated differently in both Chapter 7 and Chapter 11 bankruptcy filings. Not all debts are discharged during a bankruptcy filing. However, bankruptcy can generally eliminate or consolidate most unsecured debts, except in certain cases like delinquent student loans and back taxes. A team of qualified Reno bankruptcy lawyers can help […]