Utah bankruptcy laws exist to provide individuals and businesses with a legal process to get relief from overwhelming debt and to promote fairness, encourage credit, and provide stability to the economy.
Tag: why bankruptcy
Why bankruptcy law
You may ask yourself about the purpose of bankruptcy law and why there is such thing as a bankruptcy process. Could it give people an incentive to not pay their debts back or to accumulate large amounts of debt only to have it discharged by a bankruptcy? I guess some people think this way but… Continue reading Why bankruptcy law
Why bankruptcy happens
Bankruptcy happens as a result of being insolvent, or unable to pay back your debts. Bankruptcy is a legal status that lasts for a few month to several years depending on the kind of bankruptcy you pursue. It is an alternative to get rid of debts that you are unable to pay by yourself. It… Continue reading Why bankruptcy happens