While the idea of bankruptcy may seem frightening to Utah seniors, it can be a benefit for those who are struggling with debt in their later years.
Rebuilding your life after bankruptcy is a process that requires dedication, hard work, and patience. By following these steps, you can regain your financial stability and work towards a bright and secure future.
In the year 2020, 544,463 people filed bankruptcy in the United States. That number may seem enormous, but in reality, Bankruptcy filings in 2020 were the lowest they have been in thirty-five years. This may seem counterintuitive for the type of year 2020 was, but it makes sense when you think more about the government assistance that a lot of people received last year.
You should always continue to pay your living expenses, such as rent and utilities, student loans, and the payment on any property you wish to keep in bankruptcy, such as a house or a car. As for your other bills, it’s wise to keep making your payments until you have consulted with an attorney, learn that you qualify
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.
Bankruptcy in 2021 still spans the time of the Covid-19 pandemic. Last year many of my clients were able to start the bankruptcy process ahead of the curve because they were able to use a portion of their stimulus checks to cover court and attorney fees.
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.
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.
We get that you are stressed rignt now. We can help. We are a full service bankruptcy firm we actually like to talk to our clients on the phone or via text. Once you hire us we take the stress out of filing bankruptcy and walk you throught the process. We dont just sign you up and then make you self prepare the paperwork like other places out there. We also dont try and get you into a further financial mess by trying to finance your bankruptcy
Federal bankruptcy law directs most of the bankruptcy process and can be found at 11 U.S.C. sec 101 et seq, but there are some intricacies within each state governed by Utah state law. If you are filing bankruptcy in Utah, you’ve come to the right place! Here are 5 Things about filing bankruptcy in Utah keep in mind