Salt Lake City Bankruptcy Attorney
If your debt has become unmanageable it is most likely taking a toll on all aspects of your life. No one should live in fear of threatening letters from creditors, wage garnishment, harassing calls or home foreclosure. Their comes a point that you need to find financial relief in order to live your life again.
Bankruptcy Lawyers in Salt Lake City
At Haskins James Law, our bankruptcy lawyers understand deciding to file bankruptcy should only be done after careful evaluation of your options. When you visit our office in Salt Lake City, our bankruptcy attorneys will review your financial situation. If bankruptcy is not right for you, we will tell you. It may be possible that negotiating with your creditors will yield a better results. If bankruptcy will help, our bankruptcy attorneys will guide you through the process of filing either Chapter 7 or Chapter 13 bankruptcy on your behalf and serving as your legal counsel throughout your case.
When you file for bankruptcy in the state of Utah, you are immediately granted an automatic stay. This puts an end to:
• Creditor Harassment
• Foreclosure and Garnishment Proceedings
• Vehicle repossession
Chapter 7 Bankruptcy vs Chapter 13 Bankruptcy
• Chapter 7 bankruptcy, or liquidation bankruptcy, is a way to get a fresh financial start. With this plan, you will be able to keep most of your personal belongings, while your unsecured debt is discharged. As long as you are current on the payments, you should be able to keep your home and vehicles if that is what you wish to do.
• Chapter 13 bankruptcy is a debt reorganization plan. With this bankruptcy plan, all your unsecured debts are combined into one monthly payment that you make over 3-5 years. After that time, your remaining consumer debts are eliminated. You may even be able to roll past due mortgage and vehicle payments into the repayment amount, freeing up much-needed funds to make future payments.
• Bankruptcy and Your Credit Score
Bankruptcy will affect your credit score, but if you are already having trouble making payments, your credit score has most likely already taken a sizeable hit. Fortunately, as soon as one year after filing bankruptcy, you may be able to obtain credit, at which time you can begin working to build your score. Oftentimes people end up with better credit after a bankruptcy filing than they had before.
Contacting a Bankruptcy Lawyer
To learn more about bankruptcy and how it will affect you, contact our Bankruptcy 801-539-0234 to schedule a free confidential consultation.
Salt Lake City Haskins James Law Chapter 7 Bankruptcy Attorney
When You Need a new Financial Start – Call Haskins James Law Firm.
Are you struggling with debt you can’t pay off? Are you making enough money to cover your living expenses, but not much more than that? If so, Chapter 7 bankruptcy could allow you to discharge your debts and make a new financial start.
At Haskins James Law, we understand the decision to file bankruptcy is a major decision. That’s why we will give you the necessary tools to decide if it is the right choice for you or not. Contact us at our office in Salt Lake City to schedule a free initial consultation and learn about your debt relief options.
How Does Chapter 7 Bankruptcy Work?
In Chapter 7 bankruptcy, or liquidation bankruptcy, most of your unsecured debt is discharged or eliminated. This includes:
• Credit card debt
• Personal loans (not student loans)
• Medical expenses
• Certain judgments
• Some taxes
• Other qualifying debt
With Chapter 7 bankruptcy, you will be allowed to keep your clothing, most furniture and the majority of your personal belongings. You may also be able to retain your financed vehicle or home, provided you can continue to make payments on them.
Not all debt however, can be discharged through a Chapter 7 bankruptcy. Child support payments, student loans, certain taxes and specific judgments cannot be discharged. However, with your other debt erased or minimized, you will be in a much better position to pay these non-dischargeable expenses.
The Means Test
To determine whether or not you are eligible for Chapter 7 bankruptcy, or if you qualify for Chapter 13 bankruptcy instead, the court requires you to undergo something called a means test. This evaluation takes your income and living expenses into consideration and balances them against your debt level. To learn if you are qualified to file Chapter 7 bankruptcy, contact our office to schedule a confidential consultation.
Allow Yourself to Start Over
You don’t need to live with stress and frustration anymore because of overwhelming debt. Contact us online or call our office locally at 801-539-0234 to schedule a free confidential consultation with a knowledgeable Salt Lake City, Utah bankruptcy lawyer.
Chapter 13 Bankruptcy Lawyer
Reorganize Your Debt with the help of Haskins James Law in Salt Lake City, Utah.
Are you facing mounting debt, but only able to keep up with a small portion of it each month? Would you be able to catch up on your bills if you were just able to get some breathing room? If so, Chapter 13 bankruptcy maybe an option for you to consider.
Bankruptcy is not right for everyone; debt negotiation could possibly be a better option for your particular situation. Sometimes, though, it is the only way for a person to get out from under a mountain of crippling debt. At Haskins James Law in Salt Lake City, Utah our knowledgeable attorneys will explain your options and guide you through the bankruptcy process, helping you get back on track to financial freedom.
How Does Chapter 13 Bankruptcy Work?
Chapter 13 bankruptcy is essentially a debt reorganization plan. With this type of bankruptcy, your unsecured debt is rolled into one monthly payment that you make over the period of 3-5 years. The court trustee uses that money to pay your creditors. After the 3-5 years are over, any remaining consumer debt is discharged.
Chapter 13 bankruptcies allows people to:
• Stop foreclosure proceedings
• Avoid vehicle repossession
• Stop most wage garnishments
• Protect their assets
• Possibly strip away a second mortgage
People who make too much money to qualify for Chapter 7 bankruptcy or have assets they want to protect may find Chapter 13 bankruptcy a better alternative. This debt repayment plan is particularly helpful for people with non-dischargeable debt like:
• A home mortgage
• Student loans
• Tax debt
• A vehicle loan
• Spousal support
• Child support
To learn if Chapter 13 bankruptcy is right for you, contact our office for a free initial consultation with our knowledgeable attorneys.
Give Yourself a New Start
To discuss whether or not bankruptcy can help you find debt relief, contact us online or call our office locally at 801-539-0234 to schedule a free confidential consultation with a knowledgeable Salt Lake City bankruptcy lawyer.