8833 South Redwood Road
Suite C
West Jordan, UT 84088

Call For Free Consultation

(801) 676-5506

Call Us

Bankruptcy Lawyer Midvale Utah

Bankruptcy Lawyer Midvale Utah

The Utah bankruptcy process is complex. If you want to file for bankruptcy in Utah, seek the assistance of an experienced Utah bankruptcy attorney. If you have a lot of debts to pay off, use bankruptcy as the last option. Try and negotiate with your creditors. If the debt is backed by a collateral, surrender the collateral. If you have exhausted all your options, consider bankruptcy filing. An experienced Midvale Utah bankruptcy lawyer is the one you should talk to when you are considering bankruptcy.

The exact Utah bankruptcy process will depend on your chapter of filing. Individual debtors in Utah usually file for bankruptcy under Chapter 7 or 13. Individuals can also file under Chapter 12 but Chapter 12 is exclusively for discharging the debts of a family farmer or fisherman. The process involved in a Chapter 12 bankruptcy is more or less similar to a Chapter 13 process. An experienced Midvale Utah bankruptcy lawyer will review your circumstance and advise you on the chapter you should choose. Choosing the wrong chapter can have serious consequences. Don’t take chances.

Chapter 7 is by far the most popular bankruptcy for individuals. A Chapter 7 bankruptcy is often called liquidation because the Chapter 7 bankruptcy process is essentially a liquidation process.

Bankruptcy is a legal recognition that an individual or a business cannot pay its debts. There are many sections, or “Chapters,” of the bankruptcy code. These different Chapters try to deal with the different situations debtors find themselves in. The most commonly used Chapters of the bankruptcy code are Chapters 7, 11, and 13. Debtors, assisted by the courts, must decide which Chapter best addresses their situation. Speak to an experienced Midvale Utah bankruptcy lawyer before you decide on the Chapter.

Chapter 7 Bankruptcy

Chapter 7 bankruptcies apply to individuals. Under Chapter 7, all of the individual’s assets are “liquidated”–sold off–by the courts to pay creditors. To determine what assets the debtor owns, a complete list must be supplied to the federal bankruptcy court. In addition, a full accounting of all liabilities must be presented to the court. Once the assets have been liquidated, creditors start getting paid. First in line is the government! Payment of taxes gets the highest priority.

Some financial obligations must be paid even after a Chapter 7 bankruptcy is finalized, including alimony and student loans. Naturally, few creditors will ever see their money because of the sad condition of the debtor’s finances. And the debtor now has the bankruptcy recorded in his credit file, which means that the likelihood of receiving additional credit is slight–at least for the next ten years. In a Chapter 7 bankruptcy, the bankruptcy trustee who is appointed by the court will take over the assets of the debtor. The assets will then be liquidated and the creditors will be paid off from the amount recovered through liquidation. Some creditors may not be repaid in full. But the debt will be discharged and the debtor will no longer be responsible for that debt. An experienced Midvale Utah bankruptcy lawyer can help you file a Chapter 7 bankruptcy in Utah. Chapter 7 filing can be complex. There are many complex forms to be submitted to the court.

Chapter 11 Bankruptcy

Chapter 11 bankruptcies apply to businesses. By filing under Chapter 11, a business is allowed time to reorganize the firm, and is shielded from persistent creditors. The hope is that through reorganization, the firm can return to profitability and thereby repay some of its debts. While the firm continues with its day-to-day operations, the bankruptcy court reviews the firm’s financial condition, and hears from the firm’s creditors–who may ask the court to investigate the firm for mismanagement or other wrongdoing. The Chapter 11 court proceedings may take years to complete and, even if the firm’s reorganization efforts are successful, there is a distinct possibility that the firm will pay its creditors only a fraction of what is owed to them. Speak to an experienced Midvale Utah bankruptcy lawyer if you are considering a Chapter 11 bankruptcy in Utah.

Chapter 13 Bankruptcy

Chapter 13 bankruptcies apply to individuals who are not in the hopeless financial situation that individuals filing under Chapter 7 find themselves in. Under Chapter 13, debtors turn their finances over to the bankruptcy court. After examining the financial documents, the court decides how to deal with the situation. Often, the debtor’s debts are rescheduled so that a portion of the debt can be repaid over time. In addition, a bankruptcy trustee may be appointed to oversee the case for the next few years. It is also common for the debtor’s wages to be tapped by the court to help repay creditors. The benefit to the debtor is that most of his assets are protected under Chapter 13. But the bankruptcy is recorded, and the prospect of receiving future credit is slim for a decade or so. In a Chapter 7 bankruptcy, the debtor submits a repayment plan. This repayment plan is placed before the creditors. Once the creditors approve the plan, the debtor has to make payments according to the plan. Once all the payments are made, the debts are discharged. Speak to an experienced Midvale Utah bankruptcy lawyer to know if you are eligible to file a Chapter 13 bankruptcy in Utah.

Credit Repair

Bankruptcy can remain on your credit. This will make it difficult for you to get loans, mortgage and credit cards. You should work on improving your credit score once you are out of bankruptcy. Some debts cannot be discharged in bankruptcy. You will have to pay them. Speak to an experienced Utah bankruptcy lawyer to know which of your debts can be discharged by bankruptcy and which debts will survive your bankruptcy.

Improving Your Credit After Bankruptcy

You have to deal with old and existing debt before you can truly move on. A Chapter 7 takes only 90 -100 days to discharge. A Chapter 13 gives you a full discharge as well, although it does take longer, the average being 3-5 years. If you don’t have enough debt to file a bankruptcy, then an attorney can help settle debt so you can get on a sustainable track with an end in sight instead of one where you are robbing Peter to pay Paul all the time.
Even if you file bankruptcy, not all debts are dischargeable in bankruptcy and have to be dealt with after the bankruptcy. Some of the debts that commonly survive a bankruptcy include:

• Debts you reaffirmed (agreed to keep paying), such as your mortgage or car loan

• Back taxes that were not discharged in your Chapter 7 bankruptcy (usually those less than three years old).

• Student loans (federal or private)

• Alimony, child support

Student loans are exceptionally difficult to discharge in bankruptcy. There is a separate legal proceeding called an “adversary proceeding” that you must file in addition to the underlying bankruptcy to attempt to prove that an undue hardship exists to justify the elimination of your student loans. The standard to discharge student loans is quite high although sometimes bankruptcy will help reduce student loan debt. That being said, there are often solutions to reduce your student loan payments to something that is both affordable and sustainable with an end in sight. Endless forbearances are only putting off the problem, and in fact, making it much bigger later in life. Consult a qualified Midvale Utah bankruptcy attorney regarding these solutions as soon as you can. The sooner you create a plan to deal with your student loans, the quicker they will be in your rearview mirror.
If you have federal student loans, there are many excellent income based programs with debt forgiveness.

It’s important to seek the advice of a qualified student loan attorney because these programs are not “one size fits all,” and the servicer is not required to give you all of your options or help to identify which option is best for you. They are merely debt collectors. For private loans, we recommend negotiating a settlement to put an end to this debt once and for all. This can include payment plans, but will usually only be effective upon a default so they are willing to negotiate. Often private lenders have poor documentation and many defenses exist to repayment. Finally, these lenders commit frequent consumer law violations that can be used as leverage in a settlement by a knowledgeable Midvale Utah bankruptcy lawyer.

Building and Maintaining Good Credit

The best time to start building your credit is when you don’t need it, so there is time for the small incremental increases to build over time. People with no credit will build their score faster than someone with bad credit – but either way it will happen faster than you might think. Many debtors are able to get back to high 600s, low 700s within two years of filing a bankruptcy, sometimes earlier.

Can you Re-establish Credit After Bankruptcy?

It is actually easier to re-establish credit after a bankruptcy than it is for a person who has not filed bankruptcy and has poor credit. In a way, while a bankruptcy will cause your credit score to go down initially, it also provides a base from which it can go up. Bankruptcy does not automatically make you a bad credit risk. Provided the rest of your credit information is good, bankruptcy can actually make getting credit easier. Your debt to income ratios following a bankruptcy may be the best they have ever been. You cannot file another Chapter 7 bankruptcy for over eight years, so many creditors will view you as a good credit risk. You are likely much less of a credit risk than someone who has a lot of debt on their credit report and could file a Chapter 7 bankruptcy at any time. Some people will say to you that you should be debt-free and pay cash for everything. I take a slightly different approach. Credit is important, there are things that you ordinarily can’t just pay cash for, such as a car or home, for instance. That’s why it’s important to re-establish your credit so it is there when you are ready to use it again.

Most negative information more than seven years old must automatically be removed. There are four exceptions:

1. A Chapter 7 bankruptcy will remain for ten years.

2. A Chapter 13 bankruptcy will stay on for seven years from the date you complete your repayment plan (which generally lasts three to five years from the date of filing).

3. Tax liens, paid lawsuits and judgments stay on seven years from the date you paid them off.

4. Unpaid lawsuits or judgments stay on your credit report for seven years from the date they were entered or the time allowed by law for collecting the judgment, whichever is longer. This period of time varies from state to state, but it can be as long as 20 years.

Getting Rid of Credit Report Errors

If you see discharged accounts that are still reporting on your credit report, you can file a “Dispute” to update your credit report. You may see debts still listed as delinquent, under collection, or charged off – all of which are negative entries that will continue to adversely affect your credit. You would also need to send a request to the creditor to correct their records and provide the updated information to each credit bureau. Send any request to a creditor via certified mail, return receipt requested, to ensure you have proof of when you sent your request. You will need to update each credit report. Alternatively, there are credit repair organizations that will send disputes on your behalf. An experienced Midvale Utah bankruptcy lawyer works closely with local credit repair agencies and can recommend them to you. If the credit reports are not accurately updated after you have filed a dispute and notified the creditor, you may have a violation of the Fair Credit Reporting Act. It takes approximately 45 days for a credit inquiry to be processed.

Midvale Utah Bankruptcy Lawyer Free Consultation

When you need legal help to file a chapter 7, chapter 11, chapter 9, chapter 12 or chapter 13 bankruptcy in Utah, please call Ascent Law LLC (801) 676-5506 for your Free Consultation. We want to help you.

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

4.9 stars – based on 67 reviews

Recent Posts

Can An Executor Refuse To Pay A Beneficiary?

Family Lawyer Orem Utah

Infidelity In Divorce

How To Close Your Sole Proprietorship Business

Child Custody Law

Which Is Better Divorce Or Separation?

Ascent Law LLC St. George Utah Office

Ascent Law LLC Ogden Utah Office

Midvale, Utah


From Wikipedia, the free encyclopedia
Midvale, Utah
southbound just past 7800 South in Midvale

southbound just past 7800 South in Midvale
Location in Salt Lake County and the state of Utah.

Location in Salt Lake County and the state of Utah.
Coordinates: 40°36′50″N 111°53′18″WCoordinates40°36′50″N 111°53′18″W
Country United States
State Utah
County Salt Lake

 • Total 5.91 sq mi (15.32 km2)
 • Land 5.91 sq mi (15.32 km2)
 • Water 0.00 sq mi (0.00 km2)

4,383 ft (1,336 m)

 • Total 27,964
 • Estimate 

 • Density 5,770.04/sq mi (2,227.74/km2)
Time zone UTC−7 (Mountain (MST))
 • Summer (DST) UTC−6 (MDT)
ZIP code
Area code(s) 385, 801
FIPS code 49-49710[3]
GNIS feature ID 1430307[2]
Website http://www.midvalecity.org/

Midvale is a city in Salt Lake CountyUtah, United States. It is part of the Salt Lake City, Utah Metropolitan Statistical Area. Midvale’s population was 34,124 according to 2019 estimates from the U.S. Census Bureau.[4]

Midvale is home to the Shops at Fort Union, located on the East side of the city and the Bingham Junction economic center, located on the west side of the city. Midvale is centrally located in the most populous county in Utah, with the direct interchange between I-15 and I-215 located in the middle of the city. Midvale is one of the few cities in Utah to be home to two direct TRAX lines.

Midvale, Utah

About Midvale, Utah

Bus Stops in Midvale, Utah to Ascent Law LLC

Bus Stop in Midvale Fort Union Station Midvale, Utah to Ascent Law LLC

Bus Stop in Midvale Midvale, Utah to Ascent Law LLC

Bus Stop in Midvale Center Station (Bay A) Midvale, Utah to Ascent Law LLC

Bus Stop in 8600 S @ 171 W Midvale, Utah to Ascent Law LLC

Bus Stop in Midvale Main St / Center St (SB) Midvale, Utah to Ascent Law LLC

Bus Stop in 7200 S @ 320 W Midvale, Utah to Ascent Law LLC

Bus Stop in State St @ 7009 S Midvale, Utah to Ascent Law LLC

Bus Stop in Midvale Center St / Holden St (EB) Midvale, Utah to Ascent Law LLC

Bus Stop in Midvale Main St / Fern St (NB) Midvale, Utah to Ascent Law LLC

Bus Stop in Midvale Main St / Wasatch St (SB) Midvale, Utah to Ascent Law LLC

Bus Stop in Midvale Main St / Heather St (SB) Midvale, Utah to Ascent Law LLC

Bus Stop in Midvale Center St / Main St (WB) Midvale, Utah to Ascent Law LLC

Map of Midvale, Utah

Driving Directions in Midvale, Utah to Ascent Law LLC

Driving Directions from La Quinta Inn by Wyndham Salt Lake City Midvale to Midvale, Utah

Driving Directions from Discovery Inn to Midvale, Utah

Driving Directions from Gardner Village to Midvale, Utah

Driving Directions from Motel 6 Midvale, UT - Salt Lake City South to Midvale, Utah

Driving Directions from Park Inn by Radisson Salt Lake City-Midvale to Midvale, Utah

Driving Directions from Days Inn by Wyndham Salt Lake City South to Midvale, Utah

Driving Directions from WinCo Foods to Midvale, Utah

Driving Directions from Remington Apartments to Midvale, Utah

Driving Directions from Walgreens to Midvale, Utah

Driving Directions from Savers to Midvale, Utah

Driving Directions from Copperview Elementary School to Midvale, Utah

Driving Directions from Bohemian Brewery to Midvale, Utah

Reviews for Ascent Law LLC Midvale, Utah

Ascent Law LLC Reviews

John Logan

starstarstarstarstar (5)

We've gotten divorce and child custody work from Ascent Law since the beginning because of my ex. We love this divorce firm! Staff is gentle, friendly and skilled. Tanya knows her stuff. Nicole is good and Ryan is fun. Really, all the staff here are careful, kind and flexible. They always answer all my questions, explain what they're doing and provide great legal services. I personally think they are the best for divorce in Utah.

Ascent Law LLC Reviews

Jacqueline Hunting

starstarstarstarstar (5)

I have had an excellent experience with Ascent Law, Michael Reed is an absolutely incredible attorney. He is 100% honest and straight forward through the entire legal process of things, he also has a wonderful approach to helping better understand certain agreements, rights, and legal standing of matters, to where it was easy to know whats going on the entire process. I appreciate the competency, genuine effort put forth, and assistance I received from Ascent and attorney Michael Reed, and I will be calling these guys if ever I have the need again for their legal assistance! 5star review Wonderful attorneys!

Ascent Law LLC Reviews

Anthony Ziegler

starstarstarstarstar (5)

This review is well deserved for Ryan and Josh. New clients should know they are worth the 5 star rating we give them. We needed 2 sessions from them because of the complexity of the matter, but they are both very passionate about his helping others in need.  My sister needed bankruptcy and I needed divorce.  Sometimes they go hand in hand but a large shout out to this team - also Nicole is one of the sweetest people you ever did meet - she offered me warm cookies!

Ascent Law LLC Reviews

Thomas Parkin

starstarstarstarstar (5)

Mike Anderson and his colleagues & staff are knowledgeable, attentive and caring. In a difficult and complex case that eventually went to trial, Mike was the voice of reason and the confidence I needed. His courtroom abilities are amazing and I felt his defense of me was incredible. His quick thinking and expertise allowed for a positive result when I felt the World was crumbling. His compassion, after the case, has helped me return to a good life. I trust Mike and his staff. They are friendly and very good at what they do.

Ascent Law LLC Reviews

Yeran Merry

starstarstarstarstar (5)

I worked with Attorney Alex and Paralegal Ami in my divorce case. I got to know the team very well over the course of two years. I cannot think of a better team to have worked with. Ami and Alex are not only exceptional law professions who are very knowledgeable and thorough, they are also the best human beings who empathize with the emotions I was experiencing. Alex was conscious of my budget and worked efficiently to try to reduce unnecessary legal expenses. My case also involved some dealings with a foreign country that Alex and his team had previously dealt with.  They did an amazing job addressing cultural barriers in a very respectful manner and did not fall short in quality of work or in standards when dealing with some of these new challenges. Ami deserves a medal for being extremely professional, calming, and compassionate when it is needed most.  When you need family law attorneys, call this firm. I now feel I can move forward with grace and dignity.

Share this Article

About the Author

People who want a lot of Bull go to a Butcher. People who want results navigating a complex legal field go to a Lawyer that they can trust. That’s where I come in. I am Michael Anderson, an Attorney in the Salt Lake area focusing on the needs of the Average Joe wanting a better life for him and his family. I’m the Lawyer you can trust. I grew up in Utah and love it here. I am a Father to three, a Husband to one, and an Entrepreneur. I understand the feelings of joy each of those roles bring, and I understand the feeling of disappointment, fear, and regret when things go wrong. I attended the University of Utah where I received a B.A. degree in 2010 and a J.D. in 2014. I have focused my practice in Wills, Trusts, Real Estate, and Business Law. I love the thrill of helping clients secure their future, leaving a real legacy to their children. Unfortunately when problems arise with families. I also practice Family Law, with a focus on keeping relationships between the soon to be Ex’s civil for the benefit of their children and allowing both to walk away quickly with their heads held high. Before you worry too much about losing everything that you have worked for, before you permit yourself to be bullied by your soon to be ex, before you shed one more tear in silence, call me. I’m the Lawyer you can trust.