Best Restructuring & Insolvency Lawyers in Nebraska

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Fraser Stryker PC LLO
Omaha, United States

Founded in 1898
110 people in their team
English
Nebraska AttorneysThe attorneys at Fraser Stryker PC LLO provide full-service representation to businesses and individuals that face a variety of legal issues. Through a highly customized approach, we offer practical solutions to achieve specific client goals. We have helped clients address their...
Koley Jessen
Omaha, United States

Founded in 1988
170 people in their team
English
Koley Jessen was founded in 1988 when Jim Koley, Paul Jessen, and four additional partners set out to establish a firm focused on being a great place to work and providing over-the-top client service. The guiding principles of the firm’s culture: integrity, mutual respect, and client service,...
Stinson LLP
Omaha, United States

Founded in 2002
985 people in their team
English
Complex legal challenges are best approached with sharp insight and creative solutions. At Stinson, our attorneys combine industry knowledge and business acumen to deliver practical legal guidance to clients ranging from individuals to privately-held enterprises to international corporations. We...
Erickson | Sederstrom ES Law
Omaha, United States

Founded in 1968
50 people in their team
English
Welcome To Erickson | SederstromErickson | Sederstrom is a full service law firm. Our attorneys offer a wealth of legal experience to our clients throughout the Midwest, including in Nebraska, Iowa, Kansas, Missouri, and South Dakota, and throughout the country.Our experienced attorneys look...
Gordon Rees Scully Mansukhani, LLP.
Lincoln, United States

Founded in 1974
1,688 people in their team
English
As the only law firm with offices and attorneys in all 50 states, we deliver maximum value to our clients by combining the resources of a full-service national firm with the local knowledge of a regional firm. Featuring more than 1,000 lawyers nationwide, we provide comprehensive litigation and...
MVP Law
Omaha, United States

Founded in 1901
164 people in their team
English
Founded in 1901, MVP Law is never concerned with how others do it; we forge our own path to always meet our client’s needs. Experts in public and private sector workers’ compensation, general liability, and employment and education law, our attorneys are attentive, knowledgeable and ready to...
Fitzgerald Schorr PC
Omaha, United States

Founded in 1888
14 people in their team
English
Our HistoryFitzgerald, Schorr, Barmettler & Brennan, P.C., L.L.O. is proud of its rich history of dedication to clients through its consistent, high quality service and prompt attentiveness to their needs. Commencing with the establishment by Francis A. Brogan of his law practice in the summer...
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About Restructuring & Insolvency Law in Nebraska, United States

Restructuring and insolvency law in Nebraska deals with the processes and legal procedures for managing debt, handling financial distress, and, when necessary, seeking protection from creditors. These laws help both individuals and businesses manage unmanageable debts and aim to provide a fair path toward repayment or discharge. Whether someone is facing mounting credit card bills, business debts, or is trying to keep a company afloat, Nebraska's insolvency framework provides legal mechanisms, including bankruptcy filings, workouts, and reorganizations, to find relief and restore financial stability.

Why You May Need a Lawyer

Legal guidance is crucial in restructuring and insolvency situations due to the complexities of federal and state laws, as well as the high financial stakes. Some common scenarios where a lawyer’s expertise becomes essential include:

  • Filing for bankruptcy, such as Chapter 7, Chapter 11, or Chapter 13
  • Negotiating with creditors for debt settlements or repayment plans
  • Responding to foreclosure or repossession actions
  • Preventing creditor harassment and ensuring protection under the automatic stay
  • Assessing the possibility of business reorganization instead of liquidation
  • Defending against lawsuits from creditors, such as collection actions or garnishments
  • Navigating issues like fraudulent transfers, preferences, and asset protection
A lawyer who understands Nebraska’s local court procedures and insolvency laws can help protect your interests, maximize available relief, and minimize negative consequences.

Local Laws Overview

Restructuring and insolvency law in Nebraska operates within the framework of federal bankruptcy law as established under the United States Bankruptcy Code. However, Nebraska state laws also play an important role, particularly in areas such as exemptions, foreclosure, and debt collection procedures. Some key features of the local legal environment include:

  • Bankruptcy Courts: Nebraska has its own Bankruptcy Court located in Omaha and Lincoln, handling bankruptcy filings for individuals and businesses in the state.
  • Nebraska Exemptions: State law determines which assets a debtor can keep during bankruptcy, such as a homestead exemption that shields a certain amount of equity in a primary residence.
  • Foreclosure Procedures: Nebraska typically uses non-judicial foreclosure, meaning lenders may be able to foreclose on property without going to court, depending on the terms of the deed of trust.
  • Creditor Remedies: State law outlines processes for wage garnishments, repossession, and collection practices, including protections and limitations for debtors.
  • Business Reorganization: Nebraska businesses may pursue restructuring under Chapter 11 of the Bankruptcy Code, with local counsel guiding them through the process and representing them before Nebraska bankruptcy courts.
Understanding how Nebraska law interacts with federal bankruptcy law is crucial in achieving the best outcome if you or your business are considering insolvency or restructuring options.

Frequently Asked Questions

What types of bankruptcy are available in Nebraska?

Common bankruptcy types include Chapter 7 (liquidation for individuals and businesses), Chapter 13 (repayment plans for individuals with regular income), and Chapter 11 (business reorganization). An attorney can help determine which type best fits your circumstances.

Which assets can I keep if I file for bankruptcy in Nebraska?

Nebraska law provides specific exemptions for property you may keep, such as a portion of your home's equity, personal property, vehicles up to a certain value, retirement accounts, and certain wages. The details depend on state law and your personal situation.

Will filing for bankruptcy stop foreclosure or creditor harassment?

Yes, filing for bankruptcy generally triggers an automatic stay, which temporarily stops most collection actions, including foreclosure, repossession, and wage garnishments. This gives you time to address your debts legally.

Can I file for bankruptcy without a lawyer in Nebraska?

While legally possible, bankruptcy is complex and involves detailed paperwork, court appearances, and negotiation with creditors. Most people benefit significantly from hiring an attorney to avoid costly mistakes.

How does business reorganization work in Nebraska?

Most Nebraska businesses pursue reorganization through Chapter 11 bankruptcy, which allows them to continue operating while developing a plan to pay creditors over time. Legal counsel is essential for compliance and maximizing the likelihood of a successful restructuring.

What are alternatives to bankruptcy in Nebraska?

Alternatives might include debt negotiation, out-of-court settlements, loan modifications, or voluntary asset sales. An attorney can explain these options and help negotiate with creditors.

How long does a bankruptcy stay on my credit report in Nebraska?

A Chapter 7 bankruptcy typically stays on your credit report for up to 10 years, while a Chapter 13 remains for 7 years. However, as time passes, its impact lessens, and you can begin rebuilding credit soon after discharge.

What debts cannot be discharged in bankruptcy?

Certain debts, such as most student loans, child support, alimony, recent taxes, and debts from fraud, usually cannot be discharged through bankruptcy. A lawyer can clarify which debts are eligible.

Will my employer or landlord find out about my bankruptcy?

Bankruptcy filings are public records, but employers and landlords are not typically notified unless they are creditors or unless a background check is conducted.

How do I choose the right bankruptcy attorney in Nebraska?

Seek an attorney experienced in Nebraska bankruptcy law with positive client reviews, clear fee structures, and a focus on client communication. Consultation meetings can help determine if a lawyer is a good fit for your needs.

Additional Resources

Several organizations and governmental bodies can provide guidance and information for individuals and businesses dealing with restructuring and insolvency in Nebraska:

  • United States Bankruptcy Court for the District of Nebraska: Offers official forms, local rules, and filing information.
  • Nebraska State Bar Association: Provides referrals to qualified local attorneys experienced in bankruptcy and insolvency.
  • Legal Aid of Nebraska: Offers free or low-cost legal services for low-income individuals facing bankruptcy or debt issues.
  • Credit Counseling Agencies: Many nonprofit organizations provide counseling approved for Nebraska bankruptcy cases.
  • Consumer Financial Protection Bureau: Offers general information and tools on managing debt and understanding bankruptcy.
These resources are a good starting point for understanding your options and locating professional support.

Next Steps

If you are considering restructuring or insolvency in Nebraska, take the following steps:

  1. Assess your financial situation, gather complete records of your debts and assets, and consider your goals.
  2. Consult with a qualified Nebraska bankruptcy or insolvency attorney to discuss your options, rights, and responsibilities.
  3. Explore alternatives and gather information on both bankruptcy and non-bankruptcy solutions.
  4. If you choose to proceed, your attorney will guide you through preparing and filing all necessary paperwork, representing you in court, and negotiating with creditors.
  5. Follow your legal obligations after filing, such as completing required financial education courses and adhering to court-approved plans.
A knowledgeable local attorney will help ensure you make informed choices and navigate the restructuring or insolvency process with confidence and clarity.

Lawzana helps you find the best lawyers and law firms in Nebraska through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Restructuring & Insolvency, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Nebraska, United States - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.