Bankruptcy can help you get back on track?
Bankruptcy is a last resort for many people when they have maxed out their credit cards, lost their jobs, and cannot afford to pay the bills. However, bankruptcy can be a good solution for some who need to get back on track with their finances because it eliminates most of your debt. When you go through Chapter 7 or Chapter 13 bankruptcy, all of your debts will be discharged except for any student loans or other debts that are not dischargeable by law.
In addition to getting rid of debt and stopping creditors from harassing you about repayment plans, there are other benefits too: – Your credit score will be improved after bankruptcy is completed.
Is it time for us to talk about your credit reports?
Morrison Law Group reviews credit reports and disputes negative or inaccurate reporting with creditors. We can sue creditors who fail to comply with a discharge order at no out-of-pocket cost to clients. Theron Morrison, bankruptcy lawyer with over 20 years of experience, is licensed in Utah and has helped thousands of clients get relief from debt problems.
We provide peace of mind for individuals through our bankruptcy services which include: bankruptcy consultations, Chapter 7 liquidations; Chapter 13 reorganization plans; business bankruptcies; complex cases such as domestic support obligations and contested matters in probate courts. Contact us today for a free consultation on your situation!
Bankruptcy clients are often surprised to learn they can continue to make payments on non-bankruptcy accounts. This may be by choice, such as a motor vehicle loan where payments are current, or it may be by law, such as a student loan. Any active accounts continue to impact your credit score, which necessitates the continuation of timely payments on these accounts. Bankruptcy is no excuse for failing to pay them. Keeping up with your bills and obligations during the Chapter 7 case will help you avoid any negative surprises post-bankruptcy discharge.
Assessing the damage
You may not have any idea what’s on your credit report, but it’s likely there are some accounts missing from the list. The reason? The account hasn’t been reported yet. It could be because you missed a payment, or it was too small to bother with reporting – whatever the cause, if you don’t pay attention to these accounts they will eventually show up on your credit reports and can affect your score. To avoid this happening, make sure you’re keeping track of all outstanding debts and paying them off in a timely manner!
If you’ve filed for bankruptcy, you know it can be a difficult process. You have to deal with the emotional and financial burden of being in debt. But at Morrison Law Group, we’re here to help.
When you file for bankruptcy relief, most people think that their debts are forgiven, and they can go back to living life as normal. In fact, there are still repercussions from filing for bankruptcy that will last beyond your discharge date–like credit score.
Think about the long term
We want to make sure our clients have a fresh start after their case closes so they can get on with their lives without any complications from past mistakes. That’s why we offer comprehensive services following your bankruptcy case closure, including consumer proposal negotiation.
You know the old saying, “you can’t have your cake and eat it too?” Well, if you are considering bankruptcy, you may want to reconsider. According to Morrison Law Group’s blog post on this topic: “You don’t need to be in a dire financial situation with mountains of debt or facing foreclosure and/or repossession before exploring the option of filing for bankruptcy.”
If you find yourself struggling financially, there is no harm in reaching out to Morrison Law Group about your Chapter 7 or Chapter 13 bankruptcy options. Call 801.456.9933 today to schedule a FREE consultation. We are Utah’s only statewide bankruptcy law firm and have locations in Ogden, Logan, Sandy, and St. George to serve the residents of the counties of Weber, Cache, Salt Lake, Utah, Morgan, Davis, Washington, and surrounding areas.