Bankruptcy is occurring less frequently since the economic downturn a few years ago. However, for anyone contemplating or beginning the process of bankruptcy, statistics such as these give little comfort. Bankruptcy is an emotional time and often associated with negative judgment and feelings about oneself, but that’s no longer warranted. Clay A. Alger, a bankruptcy attorney Utah debtors can rely on, has always made it a top priority to be aware of client’s needs during a Chapter 7 bankruptcy. Oftentimes, it is the wisest decision to make for yourself and your family. You can start anew and begin a life towards debt free living and a day to day future that does not hold multiple bills and strenuous worry. Before you begin down this road, however, it is important to seek the help of a bankruptcy attorney Utah residents can trust.
It can be hard to make the decisions to file bankruptcy, here a few characteristics, according to www.doablefinance.com, to help you establish your relation to or need of an impending Chapter 7 bankruptcy.
If you are paying only minimum amounts on your bills. Paying the minimum amount may seem like a more stable option than filing for Chapter 7 but the truth is, one misfortune, whether medical or financial and you are no longer keeping your head above water and may find yourself in worse financial shape than before.
Can’t budget yourself out of debt within five years. A Chapter 7 bankruptcy can stay on your history for ten years, however, most individuals remain in debt their entire life without knowing the freedom of starting over. While you may feel that something miraculous may happen it is often best to weight the options, even still. More often than not, one may find that debt doesn’t take a holiday and neither will you if you remain in it’s clutches for life.
Have recently lost your job or had other major setbacks. Maintaining your degree of debt can be difficult with a job and family, however the loss of a job and the question mark that hovers over your ability to find a new one, is not worth risking your welfare or the welfare of your family.
If you think that these aforementioned characteristics are indicative to your present situation, contact the bankruptcy attorneys at the Salt Lake City Utah law firm of Shumway Van & Hansen. We understand that Chapter 7 bankruptcy is a sensitive issue and we will handle your concerns and questions with the respect and thoroughness you deserve. Chapter 7 bankruptcy does not have to be the end of your life, the bankruptcy lawyers at Shumway Van & Hansen want to help you make it the start to your new one. Call for a free consultation at (801) 478-8080 or stop by our offices at 8 E 300 S #550, Salt Lake City, UT 84111.