The best business debt settlement companies in Nevada know that there is no usury cap, the homestead is $605,000, there is a 30-day waiting period before a judgment from another state can be enforced, and exemptions must be claimed within 10 days.
The sites that rank the best in Nevada don't know much about Nevada, so check the providers on the list here against what you should know about your state.
Does Nevada's lack of a usury cap leave you without defenses?
Even though there is no usury cap in Nevada, there are defenses besides usury. The parties can agree on any interest rate in a loan contract. NRS 99.050. The only interest cap is 36% on consumer credit to covered servicemembers. So, don't go negotiating that your merchant cash advance is really a loan. Most contracts have New York law anyway. On whether an advance can be usurious, see Can a merchant cash advance be usurious? Like Arizona, the parties can agree to any rate of interest in writing. See Best business debt settlement companies in Arizona.
How long does it take for a judgment to be enforced in Nevada?
A funder can't levy on your property until 30 days after they mail you a notice of the domesticated judgment in Nevada. Under Nevada's Uniform Enforcement of Foreign Judgments Act, the funder files an exemplified copy of the judgment with the clerk of any district court and an affidavit stating your address. The clerk sends you a notice of the judgment by certified mail. NRS 17.360.
This is a great time to negotiate with the funder as they paid for the judgment and cannot collect for 30 days. The judgment lien lasts 6 years once docketed. NRS 17.150. The funder can renew it by affidavit filed within 90 days before it expires. NRS 17.214.
Can a funder use a confession of judgment against a Nevada business?
Nevada still allows a judgment by confession without filing a lawsuit. Under NRS 17.100, you must make a statement in writing, signed and sworn to by you. The statement must state a specific sum of money due to the funder and the facts on which the sum is justly due. If it is proper, the clerk enters judgment for the sum stated plus $28 in costs. NRS 17.110. In New York, they can only file the confession of judgment in the county where you resided. For a business, this would be a place of business. CPLR 3218. An attorney should look at the confession of judgment to see if it meets the requirements of the two statutes.
What property is exempt from collection in Nevada?
In Nevada, the homestead exemption is $605,000. So, if you have that much equity in your house, the funder should take a discount on the debt. The exemptions are in NRS 21.090 and NRS 21.105.
| What can you exempt in Nevada? | How much? | Source? |
|---|
| Equity in your house | $605,000 or all if in allodial title | NRS 21.090(1)(l); NRS 115.010 |
| Equity in a vehicle | $15,000 | NRS 21.090(1)(f) |
| Tools of the trade | $10,000 | NRS 21.090(1)(d) |
| Wildcard, any personal property | $10,000 | NRS 21.090(1)(z) |
| Bank account without filing | $400 or $2,000 if federal benefits deposited in the last 45 days | NRS 21.105 |
| Wages | 82% of disposable earnings if gross weekly wages are $770 or less, or 75% if gross weekly wages are more than $770 | NRS 21.090(1)(g) |
However, the homestead exemption does not apply to any mortgage, deed of trust, tax, or other lien that is consensual in nature. See NRS 115.010. A personal guarantee is not considered to be a lien on your house. If your equity exceeds $605,000, the house may be appraised and sold, with $605,000 paid to you. This money stays exempt only if you use it for a replacement home that you identify within 45 days and take possession of within 180 days. See NRS 115.050 & NRS 115.055. See also: Does a Personal Guarantee on an MCA Cover my House?
What questions should I ask a business debt settlement company in Nevada?
- Will they provide me with a summary of my exemptions to provide to the funder?
- Will they be able to take advantage of the 30-day period after notice of a foreign judgment, and will they file a claim of exemption within the 10 days after service of a writ of execution that NRS 21.112 allows?
- Will they have a lawyer licensed in Nevada review a confession of judgment if you signed one?
- Are they registered with the state pursuant to NRS 676A, if not why not?
- Who will be handling the case if it is filed in Clark County District Court?
A business court pilot has been operating in the 8th Judicial District since June 29, 2026. See: Business Court Pilot Program. It only considers retaining cases arising out of "commercial transactions" over $2,000,000.00, and just being related to one is not sufficient, so a case to collect on an advance would likely go to a general civil department. See: How Much does Business Debt Settlement Cost?
Frequently Asked Questions
Can a funder use a confession of judgment against my Nevada business?
They can if they follow the laws of Nevada or the more strict laws of New York. In Nevada it must be in writing, signed by you, verified under oath, and state a specific sum and the facts showing it was justly due. See: NRS 17.100. Under CPLR 3218, it may only be filed in New York where the defendant resided, which for a business is where it has a place of business, so a Nevada business with no place of business in New York is safe from a New York filing.
What can a funder take from my bank account in Nevada?
You are automatically entitled to $400.00 in a bank account, or $2,000.00 if federal benefits were deposited within the last 45 days. See NRS 21.105. You can also apply your $10,000.00 wildcard exemption. For anything more, you must file a claim of exemption within 10 days after service of the writ of execution pursuant to NRS 21.112.
Does a debt settlement company need a Nevada license to settle business debt?
The debt management services statute is written for an individual in debt and requires those serving individuals in Nevada to register. Nevada attorneys representing a client are exempt. See NRS 676A. A firm representing only an LLC on an advance may fall outside the statute.
Does my spouse's share get pulled in if only I signed the guarantee?
Nevada is a community property state. No statute clearly says whether community property can satisfy a judgment on a personal guarantee signed by only one spouse. Both spouses must join in encumbering community real estate or a business they both manage. See: NRS 123.230. You should discuss the facts of your marriage with an attorney licensed in Nevada.