All states have specific income limits. To check out Nevada’s, you can either look to this government website or view the table breakdown below. If you have a household size greater than what is provided below, you can add an additional $9,900 for each added member. These numbers update about twice per year.
Lastly, you can take our Nevada’s means test calculator to gauge more accurately what qualification may look like.
While bankruptcy is a popular solution out of debt, there are other ways to get rid of debt. If you have been reading up on bankruptcy, and it does not sound like something you would like to proceed with, there are numerous other alternatives for you. For example, you could consider home co-investment, which is different from HELOC and reverse mortgage and doesn't need monthly payments.
Read storyWhether you file Chapter 7 or Chapter 13 bankruptcy, the value of your home will have an impact on your bankruptcy case. The bankruptcy trustee assigned to your case will first review the value of your home. The review will help them determine if you have non-exempt equity that you could use to pay your unsecured debts. Let us cover the basics before getting into how a trustee values your home.
Read storyBefore filing for bankruptcy, you need to take a Chapter 7 bankruptcy means test.
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