The Importance Of Hiring A Bankruptcy Lawyer Salt Lake City

By Judy Sullivan


Many people find it difficult to file for insolvency but this can be made easy by hiring a reputable bankruptcy attorney. By choosing to hire a bankruptcy lawyer Salt Lake City inhabitants can know if filing for insolvency is the appropriate decision or not. They will also be assisted to go through the legal proceedings involved efficiently.

In general, most people who declare themselves insolvent currently have huge amounts of credit card debt and are facing other problems like personal injury, job loss or divorce. Such personal problems increase their misery by presenting them with additional penalties and debt. Insolvency law is meant to assist such individuals to start their lives afresh instead of keeping on struggling to make ends meet or repay huge debt.

If you have declared yourself bankrupt, there are two major types of bankruptcies that you can file. These are chapter 7 and 13. Chapter 7 bankruptcy can assist you to get rid of the unsecured debts you have but you have to give up the non exempt properties you own. People who do not have equity or non exempt property can file for no asset bankruptcy.

One the other hand, chapter thirteen insolvency takes three to five years to get rid of debt. People who file for this type of insolvency do not give up their assets. Instead, they repay a portion of their debt and living within a strict budget that a court trustee closely monitors. People who fail to make the required monthly payments cannot get rid of their debts unless they choose to convert to filing chapter seven insolvency.

You can file for Chapter 13 insolvency if you have failed to make payments on secured debts such a mortgage and you want to propose a chapter 13 plan in order to catch up on such payments. A mathematical formula, which is referred to as the means test is used to determine the kind of bankruptcy you can qualify for. It takes into account the kind and amount of debt you have, your monthly earnings and other factors related to your finances.

A reputable attorney can be of great assistance to you since he or she can assist you to win courtroom battles. You can ask your friends, colleagues and relatives who have gone through insolvency procedures before to refer you to a reputable attorney. The testimonies they will give you on how the attorney handled their cases will assist you to select the most appropriate professional. You should carry out research on a lawyer and interview him or her before making any decision.

Another way to find a reputable attorney is to get recommendations from the bar association in this city. You can also ask your personal lawyer to refer you to a good insolvency attorney. Visiting the offices of trusted law companies and selecting the attorney of your choice is the other way to find a reputable lawyer.

When hiring a bankruptcy lawyer Salt Lake City dwellers should seek to find out if the professional is qualified and has handled several cases that are similar to theirs. People filing such a case should also hire a lawyer who is able to offer personalized attention. They should also hire a professional who charges reasonably.




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