Knowledgeable Bankruptcy Lawyer in Lincoln Nebraska

Experienced Lincoln Nebraska Bankruptcy Attorney Protects Your Rights

Having too much debt can cause substantial stress to you and your family. Bankruptcy allows many people to receive a fresh start and shed overbearing debt. I have been practicing bankruptcy law since 2005, working at two of the largest bankruptcy firms in Nebraska. I opened my own firm, McGuire Law Offices, to help hardworking people after they have experienced financial setbacks brought on by job loss, divorce, illness, and other challenges. I provide personalized attention to my clients, not passing them off to a secretary or paralegal like some of the big firms do.

Options for Bankruptcy Relief in Lincoln Nebraska

Consumers in Lincoln, Nebraska may be able to file bankruptcy under one of these chapters:

Chapter 7 – Through Chapter 7 bankruptcy, consumers discharge unsecured debts like credit cards and medical bills. Debtors typically are allowed to keep their house and car as long as they continue to pay their normal payments.
Chapter 13 – Chapter 13 bankruptcy or “wage earner’s plan” reorganizes debts in a three- to five-year repayment plan. The debtor makes monthly payments to the bankruptcy trustee, who is responsible for overseeing the process. After the repayment plan is completed, remaining debts are discharged.

Benefits of Bankruptcy

Many people are scared to file bankruptcy because they are worried about the consequences or feel bad about the prospect. However, bankruptcy can provide several important benefits to consumers. For example, an automatic stay is put in place once you file bankruptcy. This puts an end to threatening and harassing phone calls, collection letters, lawsuits, or garnishments. You might even be able to save your property from repossession or foreclosure.

Additionally, many consumers are able to keep most or even all of their assets – even if they file a Chapter 7 liquidation bankruptcy. This is because Nebraska’s exemptions allow you to keep property like some home equity, a vehicle, furniture, household goods, health aids, clothing, personal property, wages, retirement accounts, and life insurance accounts.

One of the most significant benefits of bankruptcy is that it allows you to discharge some or all of your debt. This means you will no longer be legally obligated to pay any of that debt, which can provide a great sense of relief.

Bankruptcy can provide several important benefits including:

You get an automatic stay – One of the most important benefits of filing bankruptcy is that you get an automatic stay. This is a special court order that instructs creditors not to take further collection efforts against you, such as repossessing your vehicle, foreclosing on your house, suing you, or contacting you for payments.
You can keep most of your assets – Only non-exempt assets are liquidated in Chapter 7. The generous exemptions allow debtors to keep much of their property including part or all of the equity in their home, a vehicle, furniture, household goods, health aids, clothing, and other personal property. You may also be able to protect your income, retirement accounts, and life insurance accounts.

Your debt is discharged – Once your debt is discharged, you are no longer legally obligated to repay it. With a Chapter 7, your debt might be discharged within a few months. For a Chapter 13 bankruptcy, your debt is discharged after the repayment plan is completed.

How an Experienced Lincoln Nebraska Bankruptcy Attorney Can Help

A Lincoln Nebraska bankruptcy lawyer can help you through the bankruptcy process by:

Determining if you pass the means test – To qualify for Chapter 7 bankruptcy, you must pass the means test. There are specific rules about how income is counted, so it is important a knowledgeable lawyer assists with this process.
Accounting for all debts – Not all debts can be discharged through bankruptcy or certain chapters of bankruptcy. We can help gather information about all your debts to determine the best way of filing bankruptcy and maximize your bankruptcy relief.
Applying exemptions – We will use our extensive knowledge of Nebraska exemptions to ensure that you keep as much of your property as possible.
Reaffirming certain debts – If you want to keep certain assets like home or car, you might need to “reaffirm” the debt. We can assist with this process.
Representing you at court hearings – Bankruptcy is a complex legal process. We can protect your rights at every stage and represent you at all necessary court hearings.

Contact an Experienced Lincoln Nebraska Bankruptcy Lawyer for Help

At McGuire Law Offices, we want to find the best solution for you and your specific situation. We can assess your situation and explain what is the best path forward. Contact us to explore your options.

Lincoln Office

Office Hours

Sunday: Closed
Monday: 8:30 AM – 6:00 PM
Tuesday: 8:30 AM – 6:00 PM
Wednesday: 8:30 AM – 6:00 PM
Thursday: 8:30 AM – 6:00 PM
Friday: 8:30 AM – 6:00 PM
Saturday: Closed