Legal Question in Bankruptcy in Nevada

New Bankruptcy Law

I wanted to know if the new bankruptcy law had been passed and/or signed by the president and if it has when will it go into affect? How will it affect those filing for chapter 7?

I am married with high credit card debt in my name, I have lost work and am falling behind. Can I file chapter 7 without it affecting my husband? Do you have to be behind in payments before you can file? or not made purchases for a certain amount of days? what is the law for cash advances?


Asked on 11/20/02, 11:35 am

2 Answers from Attorneys
Paul Malikowski Malikowski Law Offices, Ltd.

Re: New Bankruptcy Law

No new bankruptcy law is likely to be enacted anytime soon. When it does, fewer people will qualify for current Chapter 7 benefits. Creditors may or may not collect more. The only requirement for Chapter 7 is that you owe money. Your husband need not file, but his share of community property will be counted as assets and his income will be factored into your budget. Now is the time to plan for bankrutpcy if you don't see any other way out of financial distress. There are many afforable lawyers who can help. Cash advances within 40 days of filing are presumed nondischargeable.

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Answered on 11/20/02, 12:31 pm
Dorothy Bunce

New Bankruptcy Law

As usual, Paul has this answer nailed & responded before I could see it. The new Bankruptcy law has not passed & is expected to die. So much for those "dire" ads from the tv lawyers. If you are in northern Nevada & ready to stop worrying about possible lawsuits/garnishments, call Paul. If you are in southern Nevada & really ready to clean up your problems, I hope you will call me at (702)456-1920.

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Answered on 11/20/02, 12:45 pm


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