When you're filing for bankruptcy, it is critical to understand your legal rights. Bankruptcy laws protect consumers from financial ruin and the potential to be abused by outstanding creditors. By allowing consumers to have their qualifying debts eliminated, bankruptcy offers all Americans a second chance at controlling their debt. The bankruptcy attorneys of recognize that financial hardships can happen to anyone, and consumers who fall into this category sometimes do not have the ability to comply with creditors’ repayment demands.

We represent Las Vegas and surronding Clark, Esmeralda, Lincoln and Nye Counties.

 Contact my firm today if you need legal assistance with any of the following:

• Chapter 7 Bankruptcy
• Chapter 13 Bankruptcy
• Debt Settlement
• Debt Consolidation
• Foreclosure Prevention
• Loan Modification
• Avoiding Garnishment
• Avoiding Repossession
• Stop Creditor Harassment
• Stop Lawsuits
• Erase Credit Card Debt
• Rebuild your Credit
• Court Protection

The Law Office of Erik Severino is a small, single attorney firm specializing in the practice of consumer bankruptcy (personal Ch. 7’s and Ch. 13’s.)  We are conveniently located in two different locations, one in Summerlin (W. Lake Mead and Tenaya) and the other close to Green Valley (E. Sunset and Pecos). Our firm strives to offer the best and most personal customer service to our clients.  It seems that every law firm in town is practicing bankruptcy, and it is very confusing and exhausting to find the right attorney for your eventual case.  You can skip the homework and endless consultations by consulting with the Law Office of Erik Severino.  You will meet with Mr. Severino, who is a qualified and experienced consumer bankruptcy attorney, and not have to worry about meeting with staff or a legal assistant.  You will see that Mr. Severino will appreciate your situation and offer you the best options available to help.  You will not be judged and you will be afforded the utmost respect and dignity that you deserve, even in your time of need.

While filing a bankruptcy is a life-altering event, it does not have to be a negative event, and in most cases is very positive towards your overall financial and mental health.  Debtors no longer need to worry and stress about paying your bills or having to deal with relentless creditor harassment, or possibly losing your home to foreclosure.  My firm will help to alleviate the burdens of insurmountable debt and non-stop collections calls.  My firm can prevent a foreclosure from occurring and may even be able to strip off a 2^ndmortgage. 

Financial problems can be deeply disturbing and extremely stressful. You should not feel alone or embarrassed about considering bankruptcy. It is only natural that you would prefer to pay your bills, but bankruptcy may be your best option if you are not able to pay all of your debt. When you're filing for bankruptcy, it is critical to understand your legal rights.

If you or someone you know needs debt consolidation legal counsel or the assistance of an experienced Las Vegas, Nevada bankruptcy lawyer, contact Attorney today at 702-744-7249, or use the contact form provided on this site to arrange for your free initial consultation.

Practice Areas and Legal Definitions

Every year, more than 1,000,000 Americans file for protection under Federal bankruptcy laws. Although some bankruptcy claimants are deemed as credit abusers and/or considered financially irresponsible, many hardworking individuals and businesses can succumb to financial difficulty, and face irreparable economic crisis. Bankruptcy is designed as a legal option to help resolve such a crisis, and act as a financial life preserver for those drowning in debt. To discuss your bankruptcy options, or other areas of recourse that might be available to you, contact a qualified bankruptcy attorney who can advise you of your legal rights as stated under Bankruptcy Law and federal Bankruptcy courts.

Bankruptcy Laws:
Bankruptcy is a federal court process designed to help individuals and businesses eliminate their debts or repay them under the protection of the bankruptcy court. Bankruptcies can generally be described as liquidation or reorganization. Under a liquidation bankruptcy (Chapter 7), a debtor files to eliminate debt through the bankruptcy court. Under a reorganization bankruptcy (Chapter 13), a debtor files a plan with the bankruptcy court proposing how to repay creditors.

In 2005, the requirements under which a debtor could file Chapter 7 bankruptcy changed with the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act.  Debtors are now required to seek budget and credit counseling within six months of filing, financial “testing” is required to determine the debtor’s capacity for debt repayment, Chapter 7 cannot be filed if the household income is greater than the median household income as deemed by the state, and state exemptions cannot be applied unless the debtor has resided at current residence for over two years.

Due to the imposed requirements for Chapter 7 bankruptcy as set forth by the new laws, debtors who were eligible to file under Chapter 7 may now have to file under Chapter 13 bankruptcy instead, in which individuals and creditors agree to a court-imposed plan that requires some or all debts be repaid over five years, with an appointed trustee assigned to monitor the repayment process. Bankruptcy filings will continue to be recorded on an individual’s credit report for seven years in the case of Chapter 13, and up to ten years for Chapter 7.

Chapter 7:
Chapter 7 cases are commonly referred to as straight bankruptcy or liquidation cases, and may be filed by an individual, corporation, or a partnership. A Chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in Chapter 13. Instead, the bankruptcy trustee gathers and sells the debtor's nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code. Part of the debtor's property may be subject to liens and mortgages that pledge the property to other creditors. In addition, the Bankruptcy Code will allow the debtor to keep certain "exempt" property; but a trustee will liquidate the debtor's remaining assets. Accordingly, potential debtors should realize that the filing of a petition under Chapter 7 may result in the loss of property.

Chapter 13:
A Chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years. Chapter 13 permits individuals to keep their property by repaying creditors out of their future income.  It is not available to corporations or partnerships. After completion of payments under the plan, Chapter 13 debtors receive a discharge of most debts.

Foreclosure:
Foreclosure is the legal proceeding in which a bank or other secured creditor sells or repossesses a parcel of real property (immovable property) due to the owner's failure to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, it is typically said that "the lender has foreclosed its mortgage or lien".

A Foreclosure by Sale ends in the posting of a sign advertising the auction of your home on the sale date. The only ways to stop a foreclosure are full payment of the arrearage, or the filing of a Chapter 13 bankruptcy. Full Payment: If you are able to obtain and tender the full amount of your arrearage, including fees and costs, you can stop the foreclosure of a standard residential mortgage. Most people lack the money to make full payment. This process stops the foreclosure and allows you to repay your arrearage over a three-to-five year period. The arrearage is paid through a court-appointed official, while you resume your regular monthly payments to the bank in order to keep your home. A Chapter 13 can be filed at any time prior to the law day or sale date, and it is often the only avenue to save your home.

Debt Consolidation:
Contrary to popular belief, debt consolidation is not a loan. Debt consolidation is a process in which debt is restructured into one low monthly payment. It further enables a consumer to reduce the amount owed and thereby eliminate interest. Very often a consumer can detect warning signs of being in too much debt long before any collection notices are received. If more than two of the following signs apply to you, you are probably in too much debt:

• You have begun charging to your credit card essential expenses like food and daily expenditures
• You are making only the minimum payments on your credit cards each month
• You are near the limit of your credit cards
• You have too many credit cards
• You are unsure how much money you owe creditors

If you or someone you know needs debt consolidation legal counsel or the assistance of an experienced Las Vegas, Nevada bankruptcy attorney, contact Attorney today at 702-744-7249, or use the contact form provided on this site to arrange for your free initial consultation.

When you retain my law firm, you are not only retaining my firm, but you are retaining me as your lawyer.  I will work on your case from start to finish and provide the personal service that you require and deserve.  If you or someone you know needs the assistance of an experienced Las Vegas, NV Bankruptcy lawyer, call the Law Offices of Erik Severino today at 702-744-7249, or complete the contact form provided on this site to schedule your free consultation.


Law Office of Erik Severino
Phone: 702-744-7249
Hours: M-F, 8:00AM-5:00PM
We represent Las Vegas and surronding Clark, Esmeralda, Lincoln and Nye Counties.

Attorney Erik Severino

• Jurisdictions Attorney is Licensed in: Nevada
• Date Admitted to the Bar: 2006
• Colleges Attended, Degree & Year Graduated: Universityof Nevada, Las Vegas.  BS/BA in Economics, 2002; William S. Boyd, School of Law at the University of Nevada, Las Vegas.  JD, 2006

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