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Bankruptcy Lawyers Salt Lake City Utah

Bankruptcy Lawyers Salt Lake City Utah

People contact me from time to time and say that they’ve explored the matter and think bankruptcy would be in their best interest, but they are concerned with how filing for bankruptcy will affect their ability to get new loans in the years to come. For this reason, you need to speak with a Bankruptcy Lawyer to know all of your options. My usual response is to that great, and very important, question is that it can take you as few as 2-3 years if you do it the right way.

Is There Life After bankruptcy

Let’s start with a reality check. The reality check is that most people who are thinking about bankruptcy are: (1) already behind on payments and have a credit rating that is starting to reflect that fact and (2) they have a debt-to-income ratio that is less than ideal. When a lender checks a credit rating or a debt-to-income ratio, they don’t ask why a person has gotten into debt, they only ask, “What’s the risk for me in lending to this person?” If a person seems risky, they are reluctant to lend. So, chances are, you may not be able to get a loan until you take some kind of action that will shift the tide. When deciding whether bankruptcy is a good idea even if it does affect my credit score, the key question to ask is this: Will it take me more than three years for me to pay back all my loans? If the answer is yes, bankruptcy might be the fastest way to get your credit rating, and your financial life, back on track.

So how exactly will a bankruptcy affect my credit? Legally, a creditor can keep the fact that they weren’t paid on your credit for up to 10 years. Bad news, I know. But there is good news. The good news is that this fact in no way means that your credit will remain low for 10 years. If you manage your debts and bills wisely, you can rebound quicker than you would have believed possible. How can this be? Well, let me tell you.

Once out of bankruptcy you should wait a few months and then apply for a secured credit card. You ask, “What is a secured credit card?” A secured credit card works almost like a debit card where you’ll need to load the credit card in order to use it. Under a secured credit arrangement, the debtor places funds on deposit with the bank or other financial institution. The lender then allows the debtor to make credit card purchases from 90% to 150% of the amount placed on deposit – depending upon the individual circumstances. For example, if you put $500 in the account; you can charge up to $500. You may be able to add to the deposit to add more credit, or sometimes a bank will reward you for good payment and add to your credit line without requesting additional deposits. This arrangement enables people with poor credit records to have the convenience of having a credit card and a way to rebuild their credit score, while assuring the lender that there is a source of money from which the obligation will be paid. The last thing to remember when you obtain a secured credit card is that you need to make sure that the lender reports the fact that you’re making diligent payments to all three credit bureaus. If you do this one thing, in 3-5 years you’ll see an amazing jump in your credit score.

Ok. Now that we’ve discussed the first major thing you can do, you ask “what else can I do?” Consider the following:

  • Consider opening a checking and savings account. Some lenders look at this to determine if you can responsibly handle money. Being able to pay bills from a checking account is also much more convenient than paying with money orders.
  • Consider applying for store and gas credit cards for purchases for which you would normally pay cash. These cards usually have small limits and can help you restore you credit, but only if you have the discipline to set aside the money to pay the bill each month.
  • Pay your utility bills and rent on time for at least a year.
  • If possible, find a friend or relative to cosign for you on a loan and pay it on time.
  • Look for car dealers and mortgage brokers that attest to being “bankruptcy friendly.” Buy a used car on credit so you do not get hit with the depreciation that occurs during the first two years of a new car purchase.
  • Stay away from payday loans that are at high interest rates and are a bad credit trap.
  • Write a letter to each credit reporting agency explaining the circumstances that lead to your bankruptcy filing.
  • Live within your means. Do not unnecessarily increase your debt-to-income ratio by taking on credit to purchase luxury items that you DO NOT NEED. Your payments on consumer debt should equal no more than 20% of your expendable income after costs for housing and a vehicle.
  • Pay your reaffirmed, pre-bankruptcy debts on time.

So, is there life after bankruptcy? The answer is yes. Does regaining your life take a little work? Again, the answer is yes. But, can you do it? Of course you can!

Free Consultation with a Bankruptcy Lawyer

If you have a bankruptcy question, or need to file a bankruptcy case, call Ascent Law now at (801) 676-5506. Attorneys in our office have filed over a thousand cases. We can help you now. Come in or call in for your free initial consultation.

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


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Salt Lake City

 

From Wikipedia, the free encyclopedia
(Redirected from Salt Lake City, USA)
 
This article is about the capital of Utah. For other uses, see Salt Lake City (disambiguation).
Salt Lake City, Utah
City of Salt Lake City[1]
Clockwise from top: The skyline in July 2011, Utah State Capitol, TRAX, Union Pacific Depot, the Block U, the City-County Building, and the Salt Lake Temple

Clockwise from top: The skyline in July 2011, Utah State CapitolTRAXUnion Pacific Depot, the Block U, the City-County Building, and the Salt Lake Temple
Nickname: 

“The Crossroads of the West”

 
Interactive map of Salt Lake City
Coordinates: 40°45′39″N 111°53′28″WCoordinates40°45′39″N 111°53′28″W
Country United States United States
State Utah
County Salt Lake
Platted 1857; 165 years ago[2]
Named for Great Salt Lake
Government

 
 • Type Strong Mayor–council
 • Mayor Erin Mendenhall (D)
Area

 • City 110.81 sq mi (286.99 km2)
 • Land 110.34 sq mi (285.77 km2)
 • Water 0.47 sq mi (1.22 km2)
Elevation

 
4,327 ft (1,288 m)
Population

 • City 199,723
 • Rank 122nd in the United States
1st in Utah
 • Density 1,797.52/sq mi (701.84/km2)
 • Urban

 
1,021,243 (US: 42nd)
 • Metro

 
1,257,936 (US: 47th)
 • CSA

 
2,606,548 (US: 22nd)
Demonym Salt Laker[5]
Time zone UTC−7 (Mountain)
 • Summer (DST) UTC−6
ZIP Codes
show

ZIP Codes[6]
Area codes 801, 385
FIPS code 49-67000[7]
GNIS feature ID 1454997[8]
Major airport Salt Lake City International Airport
Website Salt Lake City Government

Salt Lake City (often shortened to Salt Lake and abbreviated as SLC) is the capital and most populous city of Utah, as well as the seat of Salt Lake County, the most populous county in Utah. With a population of 199,723 in 2020,[10] the city is the core of the Salt Lake City metropolitan area, which had a population of 1,257,936 at the 2020 census. Salt Lake City is further situated within a larger metropolis known as the Salt Lake City–Ogden–Provo Combined Statistical Area, a corridor of contiguous urban and suburban development stretched along a 120-mile (190 km) segment of the Wasatch Front, comprising a population of 2,606,548 (as of 2018 estimates),[11] making it the 22nd largest in the nation. It is also the central core of the larger of only two major urban areas located within the Great Basin (the other being Reno, Nevada).

Salt Lake City was founded July 24, 1847, by early pioneer settlers, led by Brigham Young, who were seeking to escape persecution they had experienced while living farther east. The Mormon pioneers, as they would come to be known, entered a semi-arid valley and immediately began planning and building an extensive irrigation network which could feed the population and foster future growth. Salt Lake City’s street grid system is based on a standard compass grid plan, with the southeast corner of Temple Square (the area containing the Salt Lake Temple in downtown Salt Lake City) serving as the origin of the Salt Lake meridian. Owing to its proximity to the Great Salt Lake, the city was originally named Great Salt Lake City. In 1868, the word “Great” was dropped from the city’s name.[12]

Immigration of international members of The Church of Jesus Christ of Latter-day Saintsmining booms, and the construction of the first transcontinental railroad initially brought economic growth, and the city was nicknamed “The Crossroads of the West”. It was traversed by the Lincoln Highway, the first transcontinental highway, in 1913. Two major cross-country freeways, I-15 and I-80, now intersect in the city. The city also has a belt route, I-215.

Salt Lake City has developed a strong tourist industry based primarily on skiing and outdoor recreation. It hosted the 2002 Winter Olympics. It is known for its politically progressive and diverse culture, which stands at contrast with the rest of the state’s conservative leanings.[13] It is home to a significant LGBT community and hosts the annual Utah Pride Festival.[14] It is the industrial banking center of the United States.[15] Salt Lake City and the surrounding area are also the location of several institutions of higher education including the state’s flagship research school, the University of Utah. Sustained drought in Utah has more recently strained Salt Lake City’s water security and caused the Great Salt Lake level drop to record low levels,[16][17] and impacting the state’s economy, of which the Wasatch Front area anchored by Salt Lake City constitutes 80%.[18]

Salt Lake City, Utah

About Salt Lake City, Utah

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Reviews for Ascent Law LLC Salt Lake City, 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.

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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.