What To Expect On Filing Bankruptcy

 

What To Expect On Filing Bankruptcy

If you are filing for bankruptcy, you may be wondering what to expect. The court will appoint a bankruptcy trustee to oversee the process. This person will ask you questions about your finances and what assets you own. In addition, they will ask you about any insurance policies you may have. They will also want to know how much money you make each month and what your current living expenses are. If you have any valuable assets, the trustee will also want to see them.

Filing for bankruptcy will prevent creditors from contacting you. You will also get an automatic stay on all lawsuits. This will keep them from collecting on your debt. The automatic stay is only temporary, and will end once you have a repayment plan in place. However, you must take a debt management course to ensure you have the skills to manage your debts once you have finished filing for bankruptcy.

There are a number of different types of bankruptcy, including Chapter 7 and Chapter 13. Before filing for bankruptcy, you should educate yourself about the process and how it works. You should prepare by putting together your financial records. This will give you a better understanding of your current financial status.

If you need an Personal Bankruptcy Lawyer, please call this law firm for a free consultation.

Ascent Law LLC
8833 S Redwood Road Suite C
West Jordan UT 84088
(801) 676–5506
https://www.ascentlawfirm.com

Best Attorneys in Utah

Location: North Ogden, UT, USA

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