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,
Category: utah bankruptcy attorney
Giving thanks
Though most of us would like to forget 2020, here at the Utah Bankruptcy Guy, we have found this past year a new purpose based in our mission to help good folks in bad places.
Bankruptcy help in Utah
Meet Jack and Diane two Utah kids doing the best that they can. Things were going along great for the couple and they soon had two kids, a nice little house, a dog named “Timmy”, and both had good jobs. But then one day Jack got hurt at his job at the Tasty Freeze.
Bankruptcy Changes Due to Covid-19
Let’s face it the world changed in early 2020 as the Covid-19 virus got loose. The bankruptcy world has had to adapt and change as well in these challenging times. Many of the changes I feel will be here for a long time. The constant that I see is you have not lost the ability to file bankruptcy its now just changed how it is being handled by the courts and law firms. At the Utah Bankruptcy Guy we have adapted to this new environment. Now might be the easiest it has been to file bankruptcy in the past 15 years.
How often can you file bankruptcy
Receiving a discharge of debts after filing bankruptcy can be a huge relief, but sometimes it might be only a temporary reprieve. As the years pass, the bills might start piling up again, and unexpected events like illness or layoffs can overwhelm your finances all over again. In these circumstances, the question “how often can you file bankruptcy?” is relevant.
What debt survives bankruptcy?
There are a number of kinds of debt that my not go away in a bankruptcy case. So in your case what debt survives bankruptcy? It’s important to speak with an experienced bankruptcy lawyer before you file bankruptcy so you have a better understanding of the outcome of your bankruptcy.
When to Move Forward with Bankruptcy
When to move forward with bankruptcy is an individual choice of course but if your financial problems are growing and you are not seeing daylight ahead bankruptcy might be the best options. Working with an experienced attorney can help you get on the right track. We tell many people we talk to after the first consultation that bankruptcy for them is a bad idea. Seek out an honest bankruptcy lawyer and have them walk you through your options you might be surprised how quickly you can turn you finical problems around.
Bankruptcy what will I lose?
If you’re caught in a financial tailspin, it can seem like there is no way to improve your situation. An experienced bankruptcy attorney can help you identify the right steps to take, even if you’re facing the prospect of losing your home.
Most people are waiting too long to file bankruptcy
Bankruptcy should not be the last resort when nothing is left to your name. If you put it off too long you might find yourself in a hole you’re unable to afford to dig yourself out of without time and serious self-discipline. Many of my clients here in Utah are surprised to learn that many of things they lost, just before they choose to file bankruptcy, could actually have been saved if we had talked just a bit sooner. Don’t let this be you.
2020 Bankruptcy Filing Fee To Increase
These fee increases, outlined in the attached document, will be effective December 1, 2020. Note that the increase to the administrative fee for filing a bankruptcy petition is only one portion of the total filing fee.