Filing for bankruptcy isn’t the right decision for everyone. But for individuals who are worried about debt, who want to protect specific property, or who see no other way forward, it can be the best option to bring relief.
Tag: bankruptcy
Utah Bankruptcy Property Exemptions
The U.S Bankruptcy Code provides numerous exemptions that allow people filing bankruptcy to shield and keep the property they own. But some states do not use the federal law to protect property in bankruptcy they use the law of the state where the case if filed. These laws are called exemption laws.
Who Files For Chapter 7 Bankruptcy?
It is important to talk with a bankruptcy attorney to understand the impact of filing bankruptcy with these kinds of debts. In Utah, check out the Utah Bankruptcy Guy Team we can help.
Which Bankruptcy is Reorganization
One of the great benefits of this kind of bankruptcy is reorganization which can help you avoid losing your home to a foreclosure especially if you are behind on your mortgage payments. You can come up with an affordable repayment plan to keep your home even if your lender is unwilling to work with you.
Bankruptcy and Benjamin Franklin
We can learn a lot from Franklin’s perspective. Unhealthy spending habits, lack of discipline and debt can be very cancerous to our lives. So what else has he said on this topic? A well-known quote of his is as follows: “For age and want, save while you may. No morning sun lasts the whole day.”
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.
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
5 Bankruptcy Terms You Need to Know
Learn these 5 bankruptcy terms you need to know and you be ahead of most non attorney participants in the bankruptcy court system. Using an experienced bankruptcy attorney to help you navigate a complex court system will save you time and money in most circumstances.
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.
Prepare Bankruptcy Papers Fast
In order to prepare Bankruptcy papers fast, getting together information and documents for your attorney can take a lot of time. But it doesn’t have to be that way.