Chapter 7 and Chapter 13 are two types of consumer bankruptcy under U.S. law. Both are designed to help individuals struggling with debt to either eliminate or reorganize their debt. The main differences between the two are outlined below.
Category: Utah Bankruptcy Guy
Best vs Worst time to file a Utah bankruptcy?
It’s important to note that timing is not the only factor to consider when deciding to file for Utah bankruptcy. You should also consider the type of bankruptcy that’s best for your situation, the costs associated with filing, and the long-term impact on your credit.
Medical Debt Utah Bankruptcy
41% of Americans have medical debt; 6% of adults owe more than $1,000 worth of medical debt; 1% owe more than $10,000. Medical debt in Utah is a significant financial issue for many people. Utah medical bankruptcy may help.
The Automatic Stay – Utah Bankruptcy
The automatic stay lasts throughout the duration of the Utah bankruptcy case, which can take several months to several years, depending on the type of bankruptcy being filed and the complexity of the case.
Who wins in a Utah Bankruptcy?
In a Utah bankruptcy case, it’s not a matter of “winning” or “losing.” Bankruptcy is a legal process that is designed to help debtors get a fresh start by eliminating or reducing their debts. The ultimate goal of Utah bankruptcy is to give the debtor a fair and equitable resolution of their debts
Utah Bankruptcy: Are there different kinds?
Each type of bankruptcy has its own eligibility requirements, process, and consequences.
Will my Ex find out about my Utah bankruptcy?
It’s worth noting that even if your Ex is not directly notified of your Utah bankruptcy, they may still find out through other means, such as through mutual friends or by checking your credit report.
Utah Bankruptcy & Tax Refunds
Some come to see their income tax refunds as a type of yearly bonus. In reality these refunds are usually caused by having paid too much in taxes during the past year
Utah small business bankruptcy options
If you are a Utah business owner and are considering bankruptcy, it’s a good idea to consult with a Utah bankruptcy attorney to understand your options and to ensure that you make the best decision for you, your business and your financial future.
How bankruptcy can affect a job search
In Utah filing for bankruptcy can have some impact on your job search, but it’s not necessarily a barrier to finding employment. With time, hard work, and a good explanation, you may still be able to find a job that fits your skills and interests.