Personal Bankruptcy Lawyer Near Vernal Utah
Ascent Law LLC (801) 676-5506 Free Consultation
Can I Go Bankrupt More Than Once?
There are some specific restrictions when it comes to bankruptcy. However, if you have done certain things before, you can still file for bankruptcy. However, you might have to abide by certain restrictions for a longer period of time. You could also try to make an agreement with your creditors. It all depends on your personal situation and financial circumstances. If your financial circumstances are affecting your mental health, you should consult your GP. There are also organizations like Mind and Samaritans that provide free counseling.
Chapter 13 bankruptcy
Bankruptcy is a legal process that gives the debtor time to pay back debts. The bankruptcy court negotiates a payment plan that allows the debtor to keep the property, pay off creditors, and eventually eliminate his or her debt. This repayment plan can last for three to five years.
A bankruptcy plan may not eliminate all unsecured debts, but it must be able to provide all of the debtor’s current expenses. Secured debts, like a home mortgage, are backed by a property such as a car or home. Unsecured debts, on the other hand, have no collateral.
Although filing bankruptcy twice is not ideal, it is possible. In some cases, it is necessary to file a second bankruptcy if your previous one was dismissed. A dismissed bankruptcy can put you back into the same financial situation as when you first filed for bankruptcy. Dismissal can occur for a variety of reasons, such as not showing up to a required court meeting or not making payments. These actions can reflect poor judgment and anger the court.
Chapter 7 bankruptcy
A debtor can file for Chapter 7 bankruptcy only once. This way, he or she can keep the property that was used as collateral. However, the bankruptcy court has to approve any reaffirmations of debts. Furthermore, a person can only file a Chapter 7 bankruptcy once every eight years. In addition, a person cannot file for bankruptcy more than once if he or she has a co-signer.
Chapter 7 bankruptcy takes less time and costs less than other bankruptcy chapters. The process of filing a chapter 7 bankruptcy will last for four to six months. The debtor will need to pay a filing fee, but attorney fees will be waived. The only time a person must visit a courthouse is to file the case.
The first step in filing for bankruptcy is filing a petition with the United States Bankruptcy Court Clerk in your area. It should contain a detailed listing of all debts, creditors, property, income, and insurance policies. It should also list any money that the debtor has inherited within the last six months.
Chapter 11 bankruptcy
In some instances, it is possible to file for Chapter 11 bankruptcy more than once. These cases can be costly and complex. As a result, most companies prefer to look for other avenues before filing. In January 2019, the children’s clothing retailer Gymboree Group Inc. filed for Chapter 11 protection, closing down all of its stores in Canada and the United States.
Chapter 13 bankruptcy requires repayment plans approved by the court. This type of bankruptcy does not liquidate a home or other assets. A chapter 13 bankruptcy plan involves repaying debt over three to five years. However, certain long-term secured obligations will never be discharged. As a result, Chapter 13 bankruptcy is not suitable for a business that needs to keep its home or other valuable assets.
Chapter 11 bankruptcy involves a reorganization of a debtor’s assets and business operations. Its primary goal is to create a reorganization plan that enables the debtor to continue its operations. The reorganization plan must be in the best interest of all creditors. It must also include adequate measures to carry out the plan.
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 Divorce Lawyer, contact this law firm:
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506
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Vernal, Utah
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Vernal, Utah
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East entrance of Vernal (2012)
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Location within Uintah County and Utah
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| Coordinates: 40°27′17″N 109°32′8″WCoordinates: 40°27′17″N 109°32′8″W | |
| Country | United States |
| State | Utah |
| County | Uintah |
| Settled | 1876 |
| Named for | Vernal |
| Government
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| • Mayor | Doug Hammond as of January 2018[1] |
| Area | |
| • Total | 4.62 sq mi (11.97 km2) |
| • Land | 4.62 sq mi (11.97 km2) |
| • Water | 0.00 sq mi (0.00 km2) |
| Elevation
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5,328 ft (1,624 m) |
| Population
(2010)
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| • Total | 9,089 |
| • Estimate
(2019)[3]
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10,438 |
| • Density | 2,258.33/sq mi (871.95/km2) |
| Time zone | UTC−7 (Mountain (MST)) |
| • Summer (DST) | UTC−6 (MDT) |
| ZIP codes |
84078-84079
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| Area code | 435 |
| FIPS code | 49-80090[4] |
| GNIS feature ID | 1433885[5] |
| Website | vernalcity.org |
Vernal, the county seat and largest city in Uintah County is in northeastern Utah, approximately 175 miles (280 km) east of Salt Lake City and 20 miles (32 km) west of the Colorado border.[6] As of the 2010 census, the city population was 9,089. The population has since grown to 10,370 as of the 2018 population estimate.[7]
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Can I go bankrupt more than once?https://t.co/dgzRCVpfiy pic.twitter.com/VyleADEDaD
— Jan Meriss Alfonso (@MerissJan) November 3, 2022
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