Not being able to afford to pay the bills can lead to property repossession and constant harassing collection calls. This can be do to overspending, emergency expenses that arose, a pay cut, a lay off, medical problems, or even the death of a loved one. No matter what the reason is for the money problems, a Bankruptcy Lawyer Salt Lake City can help.
One of the most common forms of bankruptcy is chapter 13. This type of bankruptcy is called the Individual Debt Adjustment. In this situation a person can file on their own, or with their spouse. If a co-borrower or co-debtor does not file with them, that person is usually protected under the law, unless a court rules otherwise. Chapter person allows a person to keep their home and stop foreclosure procedures as long as it is a person’s main residence.
A Bankruptcy Lawyer in Salt Lake City can advise prospective clients on the fees and costs involved. Keep in mind that the fee will cover with a Bankruptcy Lawyer Salt Lake City costs to file with the courts, paperwork, applications, and fees for the lawyer’s services. While some require up front payment, many offer payment plans that allow the person filing for debt relief to pay off the costs over time. Credit and debt counseling is usually mandatory for people that file for Chapter 13, and these costs may or may not be included in the fees.
While there are many Bankruptcy Lawyers in Salt Lake City, the best will advice clients on if Chapter 13 is the best avenue for their situation, or if a different form of bankruptcy may fit them better. Keep in mind that certain information will have to be made public to the courts, the debtors, and the other parties involved. Things like how much money a person makes, a list of their personal property, amount of money in their bank accounts, and what a person spends on things like clothes, food, electricity, medicine, and so on. This can feel like a very personal and public procedure, but in the end it is more than worth it. The goal is to keep your home, your property, and stop collection actions.