Utah Bankruptcy Lawyers Look at Filing Trends Because Less People Filing for Bankruptcy This Year
The filings for bankruptcies in Utah decreased by 14 percent in March this year compared with March of 2012. If you need help with filing for bankruptcy, contact Utah bankruptcy lawyers that debtors can rely on.
The United States Bankruptcy Court, District of Utah publishes bankruptcy statistics for each month compared to the previous year. For the first quarter of this year there were a total of 3,552 bankruptcies filed, compared to last year with 4,149 bankruptcies for the first quarter of 2012. That is a difference of almost 600 cases in just three months.
The majority of the bankruptcy filings were for Chapter 7 bankruptcy, which allows the debtor to liquidate the debts. And about one-third of the filings were for Chapter 13 bankruptcy, which allows the debtor to restructure the debts and develop a payment plan.
If you have trouble making payments and think bankruptcy may be right for you, contact Utah bankruptcy lawyers residents can trust to learn your options and see how bankruptcy can help with your financial woes. The bankruptcy process can be complicated and many risks associated with bankruptcy are unknown to the average person so it is best to sit down with a bankruptcy lawyer so that you don’t step into any pitfalls during the process.
Utah bankruptcy lawyers at Shumway Van & Hansen always offers complimentary consultations. For more information please continue to utilize call us at (801) 478-8080, or stop by our Salt Lake City offices which are located at 8 East Broadway #550, Salt Lake City, Utah 84111. Let us help you to resolve issues with your creditors!