Best Bankruptcy Lawyers in Omaha

About Bankruptcy Law in Omaha, United States

Bankruptcy law provides individuals and businesses with a legal framework to eliminate or repay debts. In Omaha, United States, bankruptcy is regulated by both federal laws and local guidelines that govern the processes and proceedings related to bankruptcy cases.

Why You May Need a Lawyer

Bankruptcy can be a complex legal process, and having a lawyer who specializes in bankruptcy law can greatly benefit you. Here are some common situations where legal help may be necessary:

• If you are unsure whether bankruptcy is the right option for your financial situation.
• If you need guidance in understanding the eligibility requirements for filing bankruptcy.
• If you want to maximize the benefits and protections available under bankruptcy law.
• If you need assistance in preparing and filing bankruptcy forms and documents accurately.
• If you need representation in court hearings or negotiations with creditors.

Local Laws Overview

Bankruptcy law in Omaha follows the guidelines set forth by the United States Bankruptcy Code. However, there may be some local laws that are particularly relevant to bankruptcy proceedings in Omaha. It is important to consult with a bankruptcy lawyer to understand the local laws that may impact your case, such as exemption laws or specific filing requirements.

Frequently Asked Questions

Q: What is the difference between Chapter 7 and Chapter 13 bankruptcy?

A: Chapter 7 bankruptcy, also known as liquidation bankruptcy, involves the sale of non-exempt assets to repay creditors. Chapter 13 bankruptcy, on the other hand, allows individuals with regular income to create a debt repayment plan over a period of three to five years.

Q: Will bankruptcy completely eliminate all my debts?

A: Bankruptcy can help eliminate certain types of debts, such as credit card debts and medical bills. However, certain debts like student loans and child support obligations are generally not dischargeable through bankruptcy.

Q: How long does bankruptcy stay on my credit report?

A: A Chapter 7 bankruptcy filing remains on your credit report for 10 years from the date of filing, while a Chapter 13 bankruptcy filing stays for 7 years. However, the negative impact on your credit score lessens over time, and you can start rebuilding your credit after bankruptcy.

Q: Can I keep any property if I file for bankruptcy?

A: Bankruptcy exemptions allow you to keep certain types of property up to a certain value. These exemptions vary by state, and Nebraska has its own set of exemption laws. Consult with a bankruptcy lawyer to determine which assets you can protect under Nebraska's exemption laws.

Q: Can I file bankruptcy without an attorney?

A: While it is possible to file bankruptcy without an attorney, it is not recommended. Bankruptcy laws are complex, and a minor mistake in the paperwork can lead to significant consequences. It is advisable to work with an experienced bankruptcy lawyer who can guide you through the process and ensure your rights are protected.

Additional Resources

If you are in need of legal advice and assistance regarding bankruptcy in Omaha, consider reaching out to the following resources:

• Nebraska State Bar Association - Bankruptcy Section: Website: www.nebar.com
• United States Bankruptcy Court - District of Nebraska: Website: www.neb.uscourts.gov
• Legal Aid of Nebraska: Website: www.legalaidofnebraska.org

Next Steps

If you find yourself in a situation where you need legal assistance in bankruptcy, follow these steps:

1. Research and compile a list of bankruptcy lawyers in Omaha.
2. Schedule consultations with multiple lawyers to discuss your case.
3. During the consultations, ask about their experience in bankruptcy law and their approach to handling cases.
4. Select a lawyer who best understands your needs and has a proven track record in bankruptcy law.
5. Engage the services of the chosen lawyer and follow their guidance throughout the bankruptcy process.