Bankruptcy Lawyer Midway Utah

bankruptcy attorney Midway Utah

Declaring Bankruptcy on Private Student Loans

There are several options for the discharge of private student loans in bankruptcy. These include repayment plans and adversary proceedings. Here are a few examples. These options may be the best way to pay back your debts while protecting your credit. Also, be sure to read up on bankruptcy laws so you can make an informed decision about the right bankruptcy option for you.

Alternatives to bankruptcy

If you’re struggling with private student loans, you may not have as many options as borrowers with federal loans do. However, there are still alternatives available to you. You can negotiate lump sum settlements with lenders, set up monthly payment plans, or defend against collection lawsuits. If these options don’t work, you may want to consider filing for bankruptcy. Bankruptcy can help you eliminate the debt, and it also prevents collection agencies from pursuing you for repayment.

Although bankruptcy can provide debt relief, it has negative effects on your credit, which can make it difficult to qualify for new loans. Your credit score will be lower, and it will be difficult to qualify for utilities or other services. However, if you’re serious about getting your student loans discharged, you can file for bankruptcy and ask the court to declare your loan repayments to be a hardship.

Repayment plans

If you are unable to repay your private student loans, you may qualify for bankruptcy. Bankruptcy allows you to discharge your debt, though you must have shown undue hardship. Bankruptcy also protects you from collection actions until your case has been resolved or you are granted permission to collect the debt from your lender.

However, filing for bankruptcy can have negative effects on your credit. It stays on your credit report for ten years and can limit your access to credit in the future. Lenders will view you as a high risk, and they may not offer you the best terms or interest rates if they know you have filed for bankruptcy.

Adversary procedure

In the United States, the adversary procedure for declaring bankruptcy on private student loans is a process that requires debtors to fight off their student loan creditors in court. The adversary proceeding starts with a complaint filed by the plaintiff. Defendants then have a limited time to file an Answer. If they fail to file an Answer within that time, they risk a default judgment against them. During the adversary proceeding, parties trade information and collect testimony. The court then holds a trial.

In the adversary procedure, debtors must provide information to their bankruptcy adversary regarding their budget, income, and the amount of debt they owe. This information will be used by the judge to decide if the debtor’s circumstances warrant a discharge. The court may not grant the debtor’s request for a discharge of their private student loans, depending on the debtor’s ability to repay the balance.

If you have any questions, you can get a free consultation with the Best Attorneys in Utah.

Ascent Law LLC:
8833 South Redwood RoadSuite C
West Jordan, UT 84088
(801) 676-5506


When you need a Bankruptcy Lawyer, contact this law firm:

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States

Telephone: (801) 676-5506
Ascent Law LLC

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Midway, Utah

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Midway, Utah
Looking east across Midway from Utah State Route 222, April 2016

Looking east across Midway from Utah State Route 222, April 2016
Location in Wasatch County and the state of Utah

Location in Wasatch County and the state of Utah
Coordinates: 40°30′52″N 111°28′38″WCoordinates40°30′52″N 111°28′38″W
Country United States
State Utah
County Wasatch
Settled 1859

 • Total 5.55 sq mi (14.37 km2)
 • Land 5.55 sq mi (14.37 km2)
 • Water 0.00 sq mi (0.00 km2)

5,584 ft (1,702 m)

 • Total 3,845
 • Estimate 

 • Density 951.35/sq mi (367.33/km2)
Time zone UTC-7 (Mountain (MST))
 • Summer (DST) UTC-6 (MDT)
ZIP code
Area code 435
FIPS code 49-49820[3]
GNIS feature ID 1430310[4]
Website Official website

Midway is a city in northwestern Wasatch CountyUtah, United States. It is located in the Heber Valley, approximately 3 miles (4.8 km) west of Heber City and 28 miles (45 km) southeast of Salt Lake City, on the opposite side of the Wasatch Mountains. The population was 3,845 at the 2010 census.

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