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What is Bankruptcy?

When some people hear the word Bankruptcy they think of some scheme to get out of debt. This is simply not true. Bankruptcy is mentioned in the constitution and the power to develop a system of bankruptcy was delegated to the legislature. Our country has gone through many different systems of bankruptcy, but all have had the same two goals:

1.      Provide a fresh start for people who find themselves saddled with debt

2.      Ensure that creditors receive a fair and equal share of available resources.

Although the system is designed on a federal level, the Supreme Court determined that state’s law will dictate what property is subject to bankruptcy proceedings. This creates a very complicated system making a knowledgeable attorney very important. Our attorneys have been involved in thousands of bankruptcies over the years representing individuals, businesses, and creditors in a variety of roles within bankruptcy cases. Our experience gives us the knowledge to answer your questions immediately. Call us today if you think you might need to file bankruptcy, or if you have received any notice from the bankruptcy court about a case.

How much does Bankruptcy cost?

Click here to see if you qualify for our Simple Seven Program. It only costs $700.00 plus filing fees for your entire chapter 7 case. Even if you don’t qualify for the Simple Seven Program, we have other payment options that make getting a fresh start affordable.

The Bankruptcy Discharge

Generally, the goal of individuals filing for bankruptcy is to receive a discharge. The bankruptcy discharge is intended to provide people like you with a fresh financial start. Obviously, you can’t make the most of that fresh start if creditors continue to harass you or discharged debt is still appearing on your credit report.

The discharge is what protects you from continued attempts from creditors to collect debts included in your bankruptcy.When a creditor or debt collector violates the discharge injunction, we can reopen the bankruptcy case to request sanctions. Sometimes, the creditor will even be ordered to pay you money for violating the discharge.

Many bankruptcy law firms consider their work done when the discharge is entered, but we know that you may need continuing protection. We never charge you to review your credit report post-discharge to determine if you creditors are violating the court’s discharge order.

Immediate Relief from creditors

Bankruptcy offers immediate relief from the stress and anxiety of all your debt. Creditors cannot contact you once you have a bankruptcy case number because filing the case invokes an automatic stay. The automatic stay is one of the most powerful injunctions in all of the federal courts. Creditors, including government agencies and secured creditors, who violate the automatic stay can be sued for damages.  In all but the rarest of cases, the automatic stay stops creditor calls, debt collection letters, law suits and even wage garnishments as soon as your bankruptcy case is filed.

We can file your case in a matter of days. After you meet with us you’ll have a plan to deal with your debt. You’ll be able to sleep again, knowing that we will protect your rights. The pressure could be off and you can start to rebuild your financial life.

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Liquidation sounds a little intimidating, and it can be if you don’t have the right help on your side. This form of bankruptcy is filed under Chapter 7 of the bankruptcy code and is the most common form of bankruptcy. With the right planning and good advice from the bankruptcy attorneys at Rogers and Russell, we’ll make sure there are no surprises in your case. Learn more HERE.

Reorganization bankruptcy is a good way to get the protection of bankruptcy but maintain control over assets. Reorganization cases are very complicated and decisions taken early early in the case can effective the ability to get the proposed plan of reorganization approved by the court. Often reorganization can be the best option if a business is involved in a personal bankruptcy or the business itself needs reorganization.  Gather more information about reorganization bankruptcy here.

The filing of a bankruptcy automatically places heavy restrictions on creditors. The bankruptcy code initiates short deadlines for creditors that may need to assert certain rights. While bankruptcy limits what a creditor can do, ignoring a bankruptcy filing and failing to assert one rights is a mistake. Savvy bankruptcy attorneys, like those at Rogers & Russell, know what a creditor may do and may not do in bankruptcy. Check out the information here about creditors’ rights in bankruptcy.

The filing of a bankruptcy can affect third parties with unintended consequences. In particular, there are a number of trustees in Utah that try to intimidate, harass, and even flat out lied to get money from what we call innocent third parties. If someone else has filed bankruptcy and it is negatively effecting you- call us now! Find more information about this HERE.