Many individuals and families today are finding themselves in financial despair due to the rising costs of living and the loss of jobs at record levels. When a person loses his job, has his hours cut, or is demoted, not only is the his income decreased but his self-esteem and confidence can suffer. This coupled with attempting to pay past and present bills is a formula for disaster.
Being in financial turmoil can have repercussions on a person’s marriage and whole life in general. Luckily, there are laws in place that help to protect a person that is insolvent, or unable to pay their bills. Filing for this legal status can help you avoid the pitfalls of being in debt such as repossessions, foreclosures, and garnishment of your wages. To see if you qualify for bankruptcy or if it’s even the avenue for you, contact experienced and trustworthy Bankruptcy Attorneys in Salt Lake City such as Lewis Adams and Associates.
Congress can make bankruptcy laws that are fair and uniform in nature. This means a person filing for bankruptcy in Texas must adhere to the same guidelines as a person filing for it in Nebraska. Congress gets its authority to create these laws from Article I, Section 8, of the United States Constitution . The Bankruptcy Code and the Bankruptcy Procedure set forth the principles under which a person can claim bankruptcy status.
People that want to get a fresh financial start in life rely on Bankruptcy Attorneys in Salt Lake City to efficiently and safely help them navigate through the complicated and in depth legal system. Since most bankruptcy process takes place away from the courthouse, these attorneys can help you with the forms you will need to fill out along with assisting you in determining which papers and legal documents you need to prove your financial status.
Once you have qualified for bankruptcy, you will be assigned a court trustee that will oversee your dealings during bankruptcy. Since all of your financial transactions are subject to monitoring during bankruptcy, it’s advisable to consult with your attorney if you have any questions or problems.
