What bankruptcy means

why bankruptcy is good for car owners

What Bankruptcy means

The simple answer to what bankruptcy means is that “the bank is broken.”  What bankruptcy means that you most likely do not have sufficient assets or money to pay off or cover your debts.   What bankruptcy means in todays usage is a legal maneuver that can help way to wipe out those debts that you cannot repay. Bankruptcy has many negative as well as positive meanings depending on how you view the term.  As I have written on this blog before bankruptcy has the power to change the direction of your financial life.

Filing for bankruptcy means that you have options to reorganize your debts, stop foreclosure, catch up on missed payments, and for the most part you are protected from creditors law suits you because of the automatic stay.  Learning your options is a necessary first step in getting a positive result if you decide to file for bankruptcy.  The fact that you are on this page is a good sign that you are taking the necessary first steps to learn you option if you were to file for bankruptcy protection.  This is one of the main reasons that I write on this blog is to give people a place to learn their option with out the host of other issues associated with most for profit self help websites so use one of our free websites to learn your options.

Bankruptcy will eliminate most of your debt if not all of it. You can brows the main directory on this web page an learn about many, many, option you might be able to pursue – but speaking with an experienced bankruptcy lawyer is your very best option.  Most lawyers that practice bankruptcy know you are in difficult financial position and offer free or very low cost consultations to good people needing a little bit of help.  If you are in Utah and would like to talk about your case call us at 801-221-9911 to set up a free consultation.

Leave a Comment





Utah County Backruptcy Attorney Services

Bankruptcy and the lose of a home
Bankruptcy for farmers
Is bankruptcy the only option?
Bankruptcy with medical bills
Can an LLC file bankruptcy?