The Benefits Of A Utah Bankruptcy Attorney
WHY DO I NEED AN ATTORNEY?
By seeking an attorney who is professionally educated in bankruptcy law, you can secure your future. It is safe and smart to try and protect your assets and your life be making sure you have a person who can be there for you when you are in need.
Because most bankruptcy processes and most cases are complicated, you might consider getting professional help.
While there are options to try first (such as working with your own creditors or seeking a non-profit financial education counselor) you should not wait until the last minute to think about seeking professional legal help for bankruptcy because some important bankruptcy rights may be lost by delay.
Bankruptcy is a legal proceeding with complicated rules and paperwork. You will want to get professional legal help, especially if you hope to use bankruptcy to prevent foreclosure or repossession of property and/or vehicles.
There are many legalities included in any type of bankruptcy law case. An attorney ensures you know what you are dealing with and how to better benefit your position. Have a lawyer by your side that can help guide you through the legal processes. You do not want to be faced with decisions that you are not well informed about. You do not want to blindly go forward in a bankruptcy and make a wrong move which will delay your rights. Contact a Utah bankruptcy attorney today.
WHAT IS THE PROCESS OF A BANKRUPTCY AND HOW WILL A UTAH BANKRUPTCY ATTORNEY HELP ME?
There is a seven-step process during a bankruptcy procedure, and a knowledgeable attorney can not only help guide you through the process, but also prevent unforeseen delays in the discharge of debts.
Step 1: Call a bankruptcy attorney.
Step 2: Means Testing – The attorney will conduct a means, or ability, to pay analysis required by law to determine if you are eligible and which type of bankruptcy is right for you.
Step 3: Credit Counseling – a session designed to ensure you are aware of all your options and resources available to you before filing bankruptcy.
Step 4: The filing – Your Utah attorney will file your bankruptcy with the bankruptcy court and all collection efforts by creditors will be temporarily stopped.
Step 5: Financial Education Program completion certificate required by law.
Step 6: Meeting of creditors – Within 45 days of filing you and your attorney will meet with creditors where you will testify under oath before a trustee that the information in your petition is accurate.
Step 7: Discharge of debts – usually 60 days after meeting of creditors.
WHEN SHOULD I SEEK PROFESSIONAL HELP?
It is important not to delay seeking legal advice, especially if it concerns your home if you want to keep it. Filing bankruptcy can prevent a foreclosure, repossession, eviction or execution sale if the bankruptcy is filed before it goes into foreclosure.
Most bankruptcy professionals will often provide a free consultation to help you decide whether bankruptcy is the right choice for your situation and which type of bankruptcy that would be best for your particular situation.
DO I HAVE TO DISCLOSE ALL DEBTS AND ASSETS TO MY ATTORNEY?
One thing to keep in mind throughout the process of bankruptcy, beginning with the very first meeting, is that you must be completely honest with your bankruptcy attorney. It is vital that you tell him or her everything about your assets, income and expenses and not withhold any information or try to hide any income or assets. Otherwise, this is considered bankruptcy fraud, which is a federal felony offense that can result in federal prison.
WHAT SHOULD I BRING WITH ME TO MEET WITH A UTAH BANKRUPTCY ATTORNEY?
- A list of all people and businesses to whom you owe money
- Proof of your household income for the last 6 months
- A list of all your assets and their value
- Your tax return from the previous year
- A list of your current living expenses.
