The decision to file bankruptcy is a difficult and painful process. Sadly, individuals, couples, and businesses find themselves in situations resulting from circumstances beyond their control, where they are unable to properly service debt they have incurred. In addition to the stress, which accompanies financial difficulty, the legal system and bankruptcy laws can be a black whole of confusion that is difficult to find your way through and come out of on top. Legal Compass Services founder, Alan Buividas, has 18 years of experience helping people find their way through bankruptcy. Contact Utah Bankruptcy Lawyer, Alan Buividas, to start your way out of the black whole today.

Frequently Asked Bankruptcy Questions

Can I Keep My House?
If you are up to date on your house payments with little, equity you and your spouse are each allowed $20,000 in exemptions, a total of forty thousand. In other words, you can get up to twenty thousand if you’re single or forty thousand if you’re a couple, in equity.

Can I Keep My Car?
You can keep your vehicle as long as you don’t have more then $2,500 of equity in it

Will Bankruptcy Stop Foreclosures?
Chapter 7 can stop foreclosures temporarily. You would need to work out an agreement with your mortgage company to keep your house. A chapter 13 might help you keep your home with a payment plan to the court which would include payment for past due mortgage amounts.

Will Bankruptcy Stop Garnishments?
Filing bankruptcy can stop garnishments on bank account and paycheck. You must take mandatory debt counseling class before filing which could keep from filing immediately.

Will Bankruptcy Stop Creditor Harassment?
Once you file bankruptcy your creditors are required to stop contacting you.

10 Things To Do To Prepare

1. Gather creditor information
2. Prepare paperwork
3. Take mandatory finance classes before filing*
4. File bankruptcy
5. Creditors have to stop collection action such as phone calls
6. Garnishments
7. Go to hearing called meeting of creditors. Bankruptcy trustee ask you questions concerning your paperwork and any property you might own.
8. You take another finance class.
9. About three months after filing debts are discharged.
10. Gather pay stubs from the past six months and last year’s tax return.

*Mandatory Classes – You must take debt-counseling class before you file bankruptcy. It is important to do immediately or you cannot file bankruptcy even if someone trying to garnish paycheck. You must take another class after filing bankruptcy before debts discharged. Classes are normally given on the Internet. We can recommend someone who is reasonable priced you can take the classes from. If you are thinking about bankruptcy you should take this class as soon as possible.

Disclaimer: We are a debt relief agency. We help people file for relief under the Bankruptcy Code.