Bankruptcy Lawyer Near Orem Utah
A Bankruptcy lawyer is a skilled professional who specializes in helping individuals solve their debt problems.
The lawyer must have a thorough understanding of bankruptcy laws, be sympathetic, and have excellent legal writing and oratory skills. They must also be creative and have a strong sense of compromise.
Bankruptcy under Chapter 7
Chapter 7 bankruptcy is a legal process that allows a person to discharge all or a portion of their debts without having to pay any additional money. This type of bankruptcy is a good option for those with modest to low incomes, few assets, and a large amount of debt. Generally, a person can use this type of bankruptcy when their debt exceeds 50% of their disposable income. The criteria used to determine whether a person qualifies for this type of bankruptcy is known as the means test.
Chapter 7 bankruptcy is a legal process that requires the filing of various documents and fees. In some cases, filing a Chapter 7 bankruptcy can be free of charge if the debtor is facing extreme hardship. The documents must detail the debtor’s assets and liabilities. They must also provide information about their expenses and income.
Types of reorganization cases
Reorganization cases are a type of bankruptcy case that involves the reorganization of a business. These cases are not easy to file and require years of maintenance. Compared to Chapter 7 cases, which last only three months, these cases can take years to complete. As a result, it is important to hire a bankruptcy attorney for assistance.
Chapter 11 bankruptcy, which is also known as reorganization bankruptcy, is a type of bankruptcy that involves a long-term reorganization plan. This plan must be approved by the bankruptcy court and is designed to provide repayment arrangements for a company’s creditors. The plan takes into consideration the debtor’s current financial situation and makes it possible for the company to continue operating.
Automatic stay
An automatic stay is a court-imposed order that will prevent a creditor from taking your property. It generally lasts for 30 days after you file for bankruptcy. However, it can be extended by the trustee, U.S. Trustee, or a creditor, if you can show that you filed the bankruptcy in good faith.
A creditor can file a motion to lift the automatic stay in a bankruptcy case when the debtor isn’t making payments on the debt. The creditor must do this within 30 days. The court will then hold a hearing, and until the hearing is held, the creditor cannot take any action against the debtor. Failure to follow this rule can have serious consequences for the creditor.
Trustees
A bankruptcy lawyer focuses on helping individuals solve and repay their debts through the court system. In such a case, the bankruptcy court appoints an impartial trustee who will oversee the case, conduct meetings with creditors, and disburse payments under the bankruptcy plan. During the process, the bankruptcy lawyer will advise the petitioner on which assets are exempt and which must be sold.
Bankruptcy laws were first created in the United States in the 1800s to provide relief for individuals who are facing heavy financial losses. The first bankruptcy laws were enacted through the Acts of 1841 and 1867. In 1898, the Bankruptcy Code was passed. This law was also known as the Nelson Act.
Cost of filing
The cost of filing bankruptcy varies significantly, and it depends on a variety of factors. For example, a simple Chapter 11 case can cost upwards of $50,000 in attorney fees, while a large and complex case can cost more than $100,000. However, you can find ways to reduce the cost of your bankruptcy filing by working with a bankruptcy attorney. Listed below are the main fees and expenses that you should expect to encounter.
The most obvious cost associated with filing for bankruptcy is the legal fees. However, there are other costs that you should consider before deciding to file. These include credit counseling fees and court costs. If you’re filing yourself, you may want to meet with several bankruptcy attorneys and compare their fees. It is also important to check out public bankruptcy attorney fees before selecting one.
If you have any questions, you can get a free consultation with Ascent Law LLC:
Ascent Law LLC:
8833 South Redwood RoadSuite C
West Jordan, UT 84088
(801) 676-5506
https://g.page/ascentlaw?share
https://www.ascentlawfirm.com/bankruptcy-lawyer/
When you need a Bankruptcy Lawyer, contact this law firm:
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506
Ascent Law LLC
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Orem, Utah
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Orem, Utah
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Orem City Center
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Flag
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| Nickname:
Family City USA
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Location in Utah County and the state of Utah
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| Coordinates: 40°17′56″N 111°41′47″WCoordinates: 40°17′56″N 111°41′47″W | |
| Country | United States |
| State | Utah |
| County | Utah |
| Settled | 1877 |
| Town charter granted | May 5, 1919 |
| Named for | Walter C. Orem |
| Government | |
| • Mayor | David Young |
| • Spokesman | Steven Downs |
| • City Manager | James P. Davidson |
| Area | |
| • Total | 18.57 sq mi (48.10 km2) |
| • Land | 18.57 sq mi (48.10 km2) |
| • Water | 0.00 sq mi (0.00 km2) |
| Elevation | 4,774 ft (1,455 m) |
| Population
(2020)
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| • Total | 98,129[1] |
| • Density | 5,267.22/sq mi (2,033.67/km2) |
| Time zone | UTC-7 (Mountain (MST)) |
| • Summer (DST) | UTC-6 (MDT) |
| Area codes | 385, 801 |
| FIPS code | 49-57300[3] |
| GNIS feature ID | 1444110[4] |
| Website | www |
Orem is a city in Utah County, Utah, United States, in the northern part of the state. It is adjacent to Provo, Lindon, and Vineyard and is approximately 45 miles (72 km) south of Salt Lake City. Orem is one of the principal cities of the Provo-Orem, Utah Metropolitan Statistical Area, which includes all of Utah and Juab counties. The 2020 population was 98,129,[1] while the 2010 population was 88,328[5] making it the fifth-largest city in Utah. Utah Valley University is located in Orem.
Orem uses the slogan “Family City USA.”[citation needed]
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