Why Sell Your House Fast?

You have other options... sell your house for cash!

Types of Bankruptcy

There are two main types of bankruptcy; Chapter 13 which forces your debtors to accept a payment plan, and Chapter 7 which involves liquidation of your assets to satisfy debt.

Both types of bankruptcy are promoted as an easy way to quickly avoid foreclosure, but because of the consequences that can arise from filing bankruptcy, other options should be considered.

Chapter 13 Bankruptcy

Creditors, especially lenders, do not need to be forced into a payment plan. Most creditors will be glad to allow you to set up a payment plan; all you have to do is ask them. By doing this they avoid the cost associated with the foreclosure process.

There are some cases where a Chapter 13 bankruptcy may be in the homeowner's best interest. If the homeowner has numerous debts in addition to their mortgage, it may be overwhelming or impractical to structure payment plans with each of them. In this case a Chapter 13 bankruptcy might be beneficial, but usually if your credit has already been destroyed. Under those circumstances a Chapter 13 bankruptcy would allow the homeowner to rebuild their credit as long as they keep up on their payment plan.

Caution should be used when deciding to use a Chapter 13 bankruptcy; however, we have seen many homeowners get behind on their Chapter 13 payment plan. When this happens the lender continues the foreclosure process from the point where they left off. This leaves the homeowner further in debt, homeless, and with both a bankruptcy and a foreclosure on their credit report.

Chapter 7 Bankruptcy

Typically speaking, Chapter 7 is not normally used for real estate. If you do file a Chapter 7 and you're in foreclosure like a Chapter 13, the court may order an automatic stay which puts a hold on the foreclosure while the bankruptcy case is pending.

In a Chapter 7 bankruptcy you wipe out your debts. Chapter 7 bankruptcy is a liquidation where the trustee collects all of your assets and sells any assets which are not exempt. (see Nevada exemptions) The trustee sells the non exempt assets to pay the creditors.

Sell your Las Vegas home fast, rebuild your life

Over the past ten years, we have helped hundreds of homeowners not only avoid all of this, but we have often helped them walk away from the situation fast and easy with enough money for a fresh start and put them on the path to rebuild their credit.

A property, even one with little or no equity, can be sold to an investor for cash. The homeowner can sell the home to an investor leaving the existing financing in place. Doing this will create value to the investor and, in most cases the homeowner can walk away from the situation with enough money for an easy and fresh start.

The investor would then quickly cure and reinstate the mortgage by making up the missed payments. This helps the previous owner fast and efficiently by keeping a foreclosure off their credit, and as the investor makes the monthly payments, it also helps to rebuild their credit.

We Want to Help You

Before filing bankruptcy all alternatives should be looked at and considered carefully. If you feel your financial situation is not going to change or you're uncertain about making payments on a payment plan, look for an alternative to bankruptcy. We will buy your home for CASH and help you move forward. Don't wait, the bank won't. Contact us today, we want to help you!

The materials available on this web site are for informational purposes only and not for the purpose of providing legal, tax, or accounting advice. You should consult your legal, tax, or accounting advisors to obtain advice with respect to any particular issue or problem and before engaging in any transaction.

Call 702-586-3278 or Click Here to Sell Your Home FAST!