If you’ve ever considered filing bankruptcy, you’ve probably wondered, “What are the benefits to filing bankruptcy?”. This is an important question to ask, and one we are happy to answer. The benefits can be divided up into six different sections.
Category: Chapter 7 Bankruptcy
Money Talks
Relationship money talks about finances should be happening often in serious relationships. They are especially important when you and your significant other are talking about joining your future together in a marriage. When you get married, your spouse’s financial situation can really affect you.
Cosigners and Bankruptcy
The idea that Shakespeare is illustrating in Hamlet relates very closely to the modern day concept of being a cosigner to someone else debt. Ever wonder what happens if the guy you cosigned with filed bankruptcy? How does cosigners and bankruptcy work? Let the Utah Bankruptcy Guy explain:
Why file bankruptcy Chapter 7
The Supreme Court has said that “[t]he principal purpose of the Bankruptcy Code is to grant a fresh start to the honest but unfortunate debtor.” The filing of a Chapter 7 bankruptcy puts a stop to most attacks on, and efforts to collect from the debtor. It is also the fastest, simplest and most common type of bankruptcy.
No Money Left
Large corporations understand the benefits of bankruptcy and may utilize it to keep their company afloat. However, the average person doesn’t usually know that when they have no money left, bankruptcy is actually a safety net. The Utah Law Office of Douglas Barrett offers free personal bankruptcy consultations to discuss what strategies are best for you in your financial situation
Is Bankruptcy Better than Foreclosure
When thinking “is bankruptcy better than foreclosure?”, at the end of the day you need to realize that while sometimes foreclosure might not affect your credit score as much, it still goes on your credit report, leaves you without your home and fails to settle all the other debt you might carry. Meanwhile bankruptcy affects all your debt not just the mortgage loan debt. Bankruptcy tends to be more global financial relief.
Should I file bankruptcy
When I talk with a potential client I tell people the facts and point them in the direction that would be best for them financially based on their needs, wants and goals. Just because you talk with me does not mean that you need to file bankruptcy – nothing is written in stone.
Best Bankruptcy Information
The best bankruptcy information you will get is to actually speak with a bankruptcy lawyer. Most attorneys I know offer free consultations for individuals and charge a nominal fee if you own a business. Information can be power so get the best bankruptcy information from an attorney near you.
Reasons to File for Bankruptcy in Utah
Believe it or not, when it comes to current primary causes of bankruptcy, the economic impact of Covid-19 is not what leads to most bankruptcy right now. The main reasons to file for bankruptcy in Utah tend to be things such as payday loans, co-signing for other people, trying to aid grown children with too much financial help, medical debt,
How Much Does A Utah Bankruptcy Chapter 7 Cost
Life can bring some unexpected challenges. The stigma around bankruptcy still persists in some circles but the reality is that often circumstances arise that you have no control over. Maybe you were in a bad accident and the impact was twofold now that the medical bills are coming in. Perhaps a relative stole money from you, or you lost your job and are struggling to find another. Regardless of how you got in this situation, bankruptcy may be your best option.