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Utah Bankruptcy Law

Utah Bankruptcy Law

As attorneys specializing in the Utah Bankruptcy process, we are aware of the many concerns that you likely have about the process of filing for bankruptcy in Utah.  Green Legal Group has a team of experienced attorneys who have the experience you need to get out of debt and get your life back on track. As the debt collection companies become evermore persistent, the pressure to file for bankruptcy can seem overwhelming and frightening. However, our bankruptcy attorneys can help take this burden from your back and get your life back on track today through the appropriate bankruptcy filing.

What is Bankruptcy?

The word bankruptcy seems like a scary thing to many people. While you may not have intended to ever go down this road, it is sometimes necessary to regain control of your finances. Life doesn’t always work out the way we plan and this means bankruptcy could be part of your future. Sit down with our attorneys to determine if bankruptcy is the right road to take to help you reset your finances. If it is not, our attorneys will tell you and propose another solution. The consultation is free, so there is no reason not to speak with a bankruptcy attorney who can give you the proper advice.

Types of Bankruptcy

There are three main types of bankruptcy in Utah:

Can I File for Bankruptcy Without an Attorney?

We definitely do not recommend it. The bankruptcy laws and rules in Utah are complex and difficult to navigate even for experienced attorneys. One misstep can result in the dismissal of your case. Save yourself the stress by teaming up with our attorneys, who will handle everything for you.

What Do I Need to Start the Bankruptcy Filing Process?

Generally, we start with a free consultation to make sure bankruptcy is the right option for you. Once you decide that you want to file bankruptcy we generally need the following pieces of information:

  • Completed bankruptcy information packet (we provide this at the initial consultation)
  • Last two years worth of tax returns
  • Last six months of pay stubs (for your spouse too if you are married)
  • A list of all your creditors complete with addresses
  • A credit report from all three bureaus (Experian, TransUnion, Equifax) (see www.annualcreditreport.com for free options)
  • Certificate of debt counseling – the Bankruptcy Court requires that you take a debtor education class, the certificate of completion is required in order to file your bankruptcy
  • Mortgage documents if applicable with property tax records

Using this information, we can compile your bankruptcy petition and related documents.

Do I Get to Keep My Property If I File Bankruptcy?

In most cases, our clients keep all of their property. Although there are some circumstances where one may have to forfeit property to the bankruptcy trustee, with proper planning, this does not usually need to happen. The key is open, honest communication between you and your attorney regarding what property you have. This will allow your attorney to properly advise you regarding your assets.

How Will Bankruptcy Affect My Credit?

Most people know that bankruptcy is bad for your credit. For many, their credit is already pretty damaged when they come to us and bankruptcy may even improve their credit slightly. In many cases, however, credit scores go down. How fast one’s credit score goes back up depends on a lot of factors. It is impossible to predict how fast your credit will recover, but we can work with you to teach you the financial principles that will help you build your credit back up.

Contact our Sandy law firm to learn more about declaring bankruptcy in Utah, 801-405-7827.