Legal Question in Bankruptcy in Nevada

Selective Bankruptcy--Non Secured Debt

Can one declare bankruptcy against non-secured debt (i.e., Credit Cards) or go totally bankrupt and keep ones house and car or cars? My house/home is listed as a "homestead" in the state of Nevada, for whatever that is worth. I know that I can afford to pay the morgage and the car payments but the rest is now beyond me after suffering a major setback in employement.


Asked on 11/11/97, 8:50 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Secured debt in Bankruptcy

You can't file "selective" bankruptcy, but youcan normally keep property that is security for debts by agreeing to keep paying the debt.If there is too much equity in the property to keep it from the trustee, you may want to consider Chapter 13.

You should not think of filing bankruptcy without a lawyer.

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Answered on 11/12/97, 4:38 pm


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