About Seth Ballstaedt

Seth Ballstaedt is currently the #1 Bankruptcy Filer in Las Vegas. He has handled thousands of bankruptcy cases in Nevada and can help you too. Give the Ballstaedt Law firm a call at (702) 715-0000 and schedule a free consultation today.
1 06, 2017

What is the “Means Test”?

By |2017-07-04T13:11:34+00:00June 1st, 2017|Chapter 11 Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General Bankruptcy|0 Comments

If your income is under median, then you are automatically eligible for chapter 7 based on your income. However, if your income is over median, then it gets a little more complicated. We must satisfy a formula called “the means test.” The means test is a somewhat complicated form, very similar to a tax return, [...]

28 10, 2016

What is the “Median Income”?

By |2017-07-04T13:09:54+00:00October 28th, 2016|Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General Bankruptcy, Uncategorized|0 Comments

Median income is a benchmark in bankruptcy, which can determine whether or not you qualify for chapter 7 bankruptcy. Chapter 7 bankruptcy is the chapter where your debts are wiped out. if your income is under the median income for your household size, then you are automatically eligible for chapter 7 from an income standpoint. [...]

30 12, 2015

Las Vegas Bankruptcy & Lawsuits

By |2017-07-04T11:11:51+00:00December 30th, 2015|General Bankruptcy|0 Comments

Often in counseling people in financial difficulty, I get the question, “What happens if I just ignore it? What can they do to me?” It’s a good question, and the answer depends on your situation. If you don’t pay a bill, a creditor has various options. Generally, a creditor will sit on a debt for a [...]

30 12, 2015

Can Creditors Get to Me?

By |2015-12-30T02:19:11+00:00December 30th, 2015|General Bankruptcy|0 Comments

As we’ve discussed in prior entries, if you don’t pay a bill, you may be sued by a creditor, who may obtain a judgment against you. However, there are limitations on what a judgment can do. There are certain things that the law says cannot be touched by a creditor as a matter of law. [...]

30 12, 2015

What if I Don’t Have Any Assets?

By |2017-07-04T11:11:51+00:00December 30th, 2015|Chapter 13 Bankruptcy, General Bankruptcy|0 Comments

Every day, I meet with clients considering a Las Vegas bankruptcy and talk about listing their assets. Almost every client tells me the same thing—I don’t own anything! Are you sure? An “asset” doesn’t have to be something physical that you can touch and examine. Have you ever written a song? Written an article? Do [...]

30 12, 2015

Las Vegas Mortgage Forgiveness

By |2015-12-30T01:56:58+00:00December 30th, 2015|General Bankruptcy|0 Comments

Since the financial crisis, the short sale market in Las Vegas has exploded. Many people looked to short sale as a way to avoid a foreclosure or bankruptcy. However, there may be a new obstacle on short sales. At the beginning of the financial meltdown, congress passed a measure known as “Mortgage Forgiveness Debt Relief [...]

30 12, 2015

Bankruptcy & Your Credit Score

By |2015-12-30T01:32:55+00:00December 30th, 2015|Credit Repair|0 Comments

Do you know how your credit score is calculated? The answer may surprise you. The formula for a FICO score takes into account a number of factors. 35% of the score is based on your payment history 30% is based on how much debt you have. 15% is the length of time you’re in debt. [...]

30 12, 2015

Who is the Bankruptcy Trustee?

By |2017-07-04T11:11:51+00:00December 30th, 2015|General Bankruptcy|0 Comments

In Bankruptcy court, you will almost never see a judge. Bankruptcy Judges exist, but they are kept hidden from view and the public never sees them. Your bankruptcy hearing is presided over by a Bankruptcy Trustee. Your Bankruptcy Trustee is a very important person. He or She is appointed by the Department of Justice to [...]