Category: utah bankruptcy attorney

Bankruptcy without going to court

I get asked all the time by potential clients if they can file bankruptcy without going to court. The majority for my clients never see the inside of a bankruptcy courtroom. So if this is a major concern of yours rest assured that the odds are in your favor that you will not need to go into a bankruptcy courtroom

Bankruptcy where you pay back

Chapter 13 bankruptcy where you pay back your debts has a number of benefits including: a lower level of risk to the debtor loosing assets (i.e. home, cars, etc.), ability to catch up missed mortgage and car payments, lower risk level of litigation from creditors, as well as means to pay back creditors in a fair and equitable manner.

Bankruptcy who knows

So bankruptcy who knows? Obviously anyone you owe money to at the time you file will need to be notified. Creditors are notified since payments to them will likely be affected by the bankruptcy proceedings. However other than creditors and your attorney very few other will be notified of you case filing. Even though bankruptcy filings are a matter of public record, they are usually not publicized unless the individual filing is a public figure.

Bankruptcy and renting an apartment

If you need to find new housing immediately after the filing of your bankruptcy many landlords will pull a credit report. Your Utah bankruptcy filing will show up on your credit report

Are bankruptcy notices published?

It’s important to understand that everything filed in a bankruptcy case is a matter of public record (except confidential information, such as a Social Security number). So technically, your bankruptcy filing would be available for viewing by anyone willing to go through the steps to see it. But remember most people wouldn’t bother.

Bankruptcy and my divorce

Bankruptcy and my divorce is something that should be timed and planned if at all possible. First you have to understand that these two distinct legal actions (bankruptcy and divorce) will not take place simultaneously in the same court. Bankruptcy is part of the Federal Court System and divorce is part of a State Court System. You need to understand and your marriage status (including expenses and income) can greatly impact the type and outcome of filing for bankruptcy.

Does bankruptcy show on credit report?

Does bankruptcy show on credit report? The bankruptcy public record will remain in your credit report for up to 10 years from the filing date. Chapter 13 bankruptcy remains for seven years and Chapter 7 remains 10 years. Accounts included in the bankruptcy will have their status updated to show that they are included in the bankruptcy. They will be deleted seven years from the original delinquency date of the account. The accounts usually are deleted before the bankruptcy public record because in most cases they are delinquent prior to bankruptcy being filed.

When is bankruptcy a good idea

Bankruptcy should not be approached casually. After all, it’s not a simple, easy cure-all for out-of-control spending.  Bankruptcy used in the right way at the right time can save you money, preserve your peace of mind and get you back on your feet financially. So when is bankruptcy a good idea? I ask my clients… Continue reading When is bankruptcy a good idea