Consequences of Bankruptcy. Bankruptcy information on your credit report may make it very difficult to get additional credit shortly after the bankruptcy is discharged — at least until the information cycles off your credit report. It will be important to begin rebuilding your credit right away, making sure you pay all your bills on time. You’ll also want to be careful not to fall back into any negative habits that contributed to your debt problems in the first place.
Category: utah bankruptcy attorney
Reverse Mortgage and Bankruptcy
Bankruptcy can be a violation of the reserve mortgage agreement so it is vital that you have your attorney look at the agreement to determine if this is the case. There are three important things that you and your attorney should consider before filing the bankruptcy…
The Utah Homestead Exemption
The term “Utah bankruptcy exemptions” refers to assets that you get to keep when you file bankruptcy. In Utah, as a practical matter, most people keep all their assets when they file bankruptcy if they do a reasonable amount of legal pre-bankruptcy planning.
Bankruptcy the best place to start
We understand how overwhelming the process can feel, so another great thing to do is get a head start on gathering all of the paperwork that you will need for your case. For example:
What are the Advantages of Filing Bankruptcy?
Some of these rumors have basis in fact others are overly exaggerated. Yes it is true that declaring bankruptcy can hurt your credit score for a period of time. It’s also true that a bankruptcy declaration is a matter of public record. However, critics of the bankruptcy process tend to overemphasize these negative points. If you’re struggling to repay your bills, none of your debt-fighting options are going to be easy or free from stress. It is true that there are a number of methods of debt relief that might help improve your financial situation over time, it important to always remember there’s no magic switch that you can flip to rebuild your credit.
When declaring bankruptcy is a bad idea
There are times when the negatives simply outweigh the positives of filing for bankruptcy, and no matter how dire your debt may appear, bankruptcy will only exacerbate the problem and then bankruptcy is a bad idea.
Why bankruptcy is smart
Do you know why bankruptcy is smart? Some people think bankruptcy is the equivalent of failure, but sadly they are misinformed. Active measures in accordance with the law that alleviate undue burden is the opposite of passivity and unassociated with failure in every regard. Many lawyer from across the country would confirm that bankruptcy is… Continue reading Why bankruptcy is smart
Which bankruptcy eliminates all debt
If you’re hoping that bankruptcy is a quick way to have your debts discharged without having to pay another cent or lift a finger, you can be disappointed if you don’t know the facts. Which bankruptcy eliminates all debt? Well Chapter 7 bankruptcy, the most common type of consumer bankruptcy, is also called a ‘liquidation’… Continue reading Which bankruptcy eliminates all debt
Book on Filing Bankruptcy in Utah
Press Release Orem (UT) for immediate release: Today the Fourth Edition of the book on filing bankruptcy in Utah was published. The Insiders Guide: Getting a Fresh Financial Start in Utah has been in print since 2005. The book, by Utah Bankruptcy lawyer Douglas Barrett, has help thousands determine if filing bankruptcy was their best… Continue reading Book on Filing Bankruptcy in Utah
Where Did Bankruptcy Come From?
So where did bankruptcy come from? Throughout humanity’s history, societies have developed different laws and regulations for how to handle debt. These laws were typically harsh and often self-defeating. For example, some regions of the world mandated that debtors could be executed for failure to pay a debt, which of course meant that the creditor… Continue reading Where Did Bankruptcy Come From?