A question I am frequently asked is what should my clients do after they receive a discharge in a Utah Chapter 7 Bankruptcy. Here are a few steps you should take to rebuild your credit, ensure your financial future, and make sure you get the most from your fresh start.
Check Your Credit Report. You should check your credit report about 3-4 months after your discharge. You can get a free copy of your report once a year from each of the major agencies at www.annualcreditreport.com. Every debt discharged in your bankruptcy should be noted as “discharged in bankruptcy”, “Closed”, or the like. If a debt is still listed as owed, then it needs to be disputed. There may also be credit reporting violations so you should contact my office to review your credit report with you.
Save Your Bankruptcy Paperwork. It is important to keep copies of your bankruptcy petition, schedules, and order of discharge for your records. You can retrieve these documents from the court later, if you lose them. However, it may cost you and can be a bit of a hassle.
Do Not Wait too Long to Make Payment Arrangements to Any Non-dischargeable Debts. Debts that are generally non-dischargeable in a Utah Chapter 7 Bankruptcy are taxes, student loans, criminal fines, and child support. Generally it takes 2-4 months after your Utah Chapter 7 Bankruptcy discharge for these creditors to resume the collection on your account. Frequently my clients are able to negotiate a reasonable payment plan and/or settlement if they are proactive with creditor.
Start Rebuilding Your Credit. Be careful here because more than likely it was credit that caused you to file your Utah Chapter 7 Bankruptcy. First and foremost, if you reaffirmed a secured debt in your Utah Chapter 7 Bankruptcy like an automobile or home loan, stay current on those loans. Nothing hurts your credit faster than missed payments. To rebuild your credit, you may wish to obtain a secured credit card. A secured credit card uses money deposited in a bank account as collateral for the credit card.
If you take care of these few items after your bankruptcy, you will be well on your way to a better financial future. Please call me at (801) 432-8682 to discuss your options to start on your path to financial freedom.
8833 S. Redwood Road, Suite C
West Jordan, Utah 84088
Telephone: (801) 432-8682
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Reviews for Ascent Law LLC Salt Lake City, Utah
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.
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!
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!
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.
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.