Utah Bankruptcy Attorney Information

Utah Bankruptcy Attorney Information

Understanding the pros and cons of bankruptcy is an essential part of making the best decision for your family. Bankruptcy Attorney Ryan E. Simpson can help you understand bankruptcy and how it relates to your specific situation. Contact us to set up a consultation with Ryan E. Simpson.

Bankruptcy Attorney

Why File for Bankruptcy?

Bankruptcy can be highly beneficial for people in certain situations. In considering bankruptcy as a possibility, ask yourself a few questions:

  • Is my debt consuming resources that I don’t have?
  • Are credit card payments making it difficult for me to provide for my family’s basic needs such as housing or food?

Do I have to pick what bills to pay each month?

  • Am I working overtime or holding down two jobs and still struggling to pay my bills?
  • Am I transferring balances from card to card in an attempt to manage my debt?
  • Am I getting frequent calls from collectors?
  • Am I fighting with my spouse about money?
  • Am I losing sleep or experiencing depression as a result of my debt?
  • Is my house in foreclosure, or am I behind on mortgage or rent payments?

Filing bankruptcy may be worthwhile for you if you are struggling in any of these ways.

The benefits of bankruptcy include:

Stop the phone harassment. When you file a bankruptcy petition in court, the automatic stay goes into effect, prohibiting your creditors from continuing collection activities. Free up your money. Bankruptcy may be able to help you pay your bills and allow you to save for your future, as opposed to living check to check in service to excessive debt. This is why you need a certified bankruptcy attorney.

Stop foreclosure or repossession of your vehicle. In some situations, a bankruptcy can help you keep your home or vehicle. This usually occurs through Chapter 13 payment arrangements when a person’s income can support the home or vehicle without all the other debt. Restore or prevent termination of utility service. A bankruptcy filing can help you keep your electricity, gas or water on or restore service if it was shut off. Allow you to challenge the claims of creditors who have committed fraud or who are otherwise trying to collect more than you really owe. Each person’s situation is different. Talking to a bankruptcy lawyer can help you decide whether bankruptcy is right for you. If so, I recommend you hire a Utah bankruptcy attorney. Learn more at http://markalexander.over-blog.com

What Are the Negative Consequences?

Most people considering bankruptcy know that there are drawbacks. Common concerns with bankruptcy filing are the negative impact on personal credit and the possibility of giving up a car or a house that is not affordable, or of having to relinquish other assets. A bankruptcy filing does, of course, adversely affect credit scores, and it can stay on a credit report for as long as 10 years; for many people in financial distress, however, late payments have already damaged their credit significantly.

Some people are concerned about the stigma of bankruptcy; they may be afraid of being looked down upon by family or friends. While these concerns should be considered, it is important to note that bankruptcy has become quite common in Arizona over the past few years. Learn more at http://3544093hv3v.com

As in any serious undertaking, the pros and cons of bankruptcy need to be weighed. Bankruptcy attorney Ryan E. Simpson will analyze your situation in detail and help you make an informed decision based on the facts — and in the context of your specific needs and goals. Contact us to set up a confidential appointment with Brian. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.