Filing Bankruptcy In Nevada

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Nevada offers more or less the standard bankruptcy procedures. However, the choice to file for bankruptcy is a momentous one, and it should not be made without the guidance of an attorney or legal aid. Varying forms of bankruptcy offers many different benefits. The true benefits though are based on each person's circumstances.

Options for Personal Bankruptcy in Nevada

For most of individuals who have fallen into great debt, Chapter 7 will inevitably be the choice method of bankruptcy. In addition, although Chapter 13 offers some big benefits over Chapter 7, it remains the most popular.

Chapter 7 Bankruptcy

In Nevada, the median income figure used is $48,194 for an individual, $60,557 for couples, $65,783 for three person households, $74,735 for four person households, and an additional $6,900 for each addition family member. These medians are used as the check for the government mandated 'means test.' A debtor must pass this test by falling below their given median to qualify for any bankruptcy option. After this, Chapter 7 bankruptcy drops most of their debts in exchange for the bankruptcy taking most of their possessions, except for 'exemptions,' bringing the nickname 'fresh start' bankruptcy. These possessions are liquidated to repay creditors, bringing a second nickname 'liquidation' bankruptcy.

Chapter 13 Bankruptcy

Before filing for Chapter 13 bankruptcy, the debtor must pass the 'means test.' In addition, a private individual can have no more than $1,010,650 in secured debts or $336,900 in unsecured debts to qualify for this form of bankruptcy. It is often nicknamed 'wage earners' bankruptcy, because of the method utilized by those who have lost track of their finances, but still earn a consistent income. A plan is created with the bankruptcy court to aid the debtor in organizing all of his or her debts to pay them back within 3 to 5 years. This 5-year barrier is required by law, but may be changed in some cases through the bankruptcy court. The debtor is able to keep all of their possession with this type of bankruptcy.

Filing Bankruptcy during Foreclosure

In many cases, if the debtor has foreclosure notices coming, filing for either Chapter 7 or Chapter 13 bankruptcy will allow the debtor to maintain their home. Bankruptcy can do this through the 'automatic stay' that is mandated by the government to the debtor after successfully filing for bankruptcy. This stay prevents creditors from attempting to collect debts from the debtor. However, this does not work in every case. If the foreclosure was filed prior the bankruptcy, or if the creditor proves the home will lose considerable value during the bankruptcy process, they may grant permission to continue the foreclosure.

Nevada Bankruptcy Exemptions

In the state of Nevada, debtors restricted to the state designated exemption list. However, they may also include Federal Supplemental Exemptions:

Type of Asset(s)

Details on Applicable Exemption(s)


Property to $125,000


Fraternal Benefit society proceeds, Health, and Life to $1000


Property of business


ERISA to $100,000, Public employee

Personal Property

Household items to $3,000, Books to $1,500, Burial plot, Contract of funeral service, Medical equipment, Photographs, Keepsakes, Catalogued metals, Vehicle to $1,500 (no limit for disabled), and Gun (one)


AFDC, Unemployment, and Vocational rehabilitation

Tools of trade

Uniforms, Farm equipment to $4,500, and Library equipment to $4,500


Greater of the following: 30 times the federal minimum hourly wage per week or minimum of 75% of disposable weekly earnings

 Nevada Bankruptcy Court Filing Options

Need Bankruptcy Advice?

Use a Bankruptcy Lawyer

Though a debtor may not have the financial means during a bankruptcy to hire one, a bankruptcy lawyer may be a necessity. Bankruptcy lawyers are trained professionals that guide debtors through all steps of a bankruptcy. They will provide support through court hearings and meetings in addition to the all the legal guidance.

Use a Filing Service

This service is not often recommended for the individual who files for bankruptcy. Filing services provide no legal advice at all. Their sole purpose is to relieve paperwork duties from the debtor and nothing more.

File “Pro Se”

To file  pro se is to file alone, without legal guidance or other services. This method has many risks and causes great stress. Filing bankruptcy is not an easy process and requires much guidance for most. This method however may be of necessity because other options will cost the debtor money.

Courts and Nevada Bankruptcy Trustee Information

Nevada Bankruptcy Court Main Office

Street Address:

Foley Federal Bldg, 4th Floor

300 Las Vegas Boulevard South

Las Vegas, NV 89101-5833



Nevada Bankruptcy Court Reno Divisional Office

Street Address

C. Clifton Young Federal Bldg and

United States Courthouse, 1st Floor

300 Booth Street

Reno, NV 89509-1317