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Impact of Bankruptcy
Here can be some of the impact of bankruptcy:
- Lower credit score (although you can improve your credit score by positive credit reporting)
- Difficulty securing future credit (interest rate on future credit will be significantly higher)
- You may be eligible for a mortgage 3 years after filing bankruptcy
- Difficulty renting an apartment (some landlords may refuse to rent to you immediately following your bankruptcy)
- A second Chapter 7 bankruptcy cannot be filed until 8 years after your first Chapter 7 bankruptcy was filed.
Call LeBaron& Jensen, P.C. today to learn how bankruptcy may impact your life at (801) 773-9488 in Layton.
Bankruptcy After Divorce
Financial problems are one of the top reasons for divorce. Bankruptcy and divorce filings often go hand in hand. Depending on your specific circumstances, you may be better off filing for bankruptcy before filing for divorce. This saves money on filing fees and can make it easier to split up property and financial assets during the divorce.
However, there are instances in which filing for bankruptcy after divorce is a better solution. Such reasons are as follows:
- Your combined income is too high to qualify for bankruptcy
- You are splitting up debt between each party
- You and your spouse do not have any joint assets such as bank accounts, homes, cars, etc.
If you are considering filing for bankruptcy and divorce it is important to talk about both matters with your bankruptcy attorney. If you are getting a divorce as well as a bankruptcy it is important to be completely honest with your attorney about the matter because he or she may not be comfortable representing both spouses if this is the case. After discussing the possible consequences of filing bankruptcy and divorce, you can make the best decision for your case. Call LeBaron & Jensen, P.C. for help with your bankruptcy and divorce case today at (801 773-9488 in Layton.
More Bankruptcy Instances
Bankruptcy For Seniors
The percentage of senior citizens filing bankruptcy is steadily increasing. With significant financial strain and rising living expenses for those on a fixed income, bankruptcy may be the best option when the financial burdens become excessive. Often time’s medical debt can push a couple or individual to the point of financial exhaustion. Learning about the consequences of bankruptcy can help you decide whether or not filing bankruptcy as a senior citizen is right for you.
Bankruptcy may be your best option under the following circumstances:
- Your liabilities exceed your assets. Your assets include your monthly income. If paying your minimum payments exceeds your monthly income and your current assets, you may want to consider filing bankruptcy
- You want to clear your debt, but you also want to keep your IRA. The current bankruptcy law protects your retirement accounts.
- You’ve already tried to negotiate down your debt or payments. If creditors are unwilling to work out a new payment plan or negotiate the total debt, you may need to file bankruptcy
You can discuss your specific situation with your bankruptcy attorney at LeBaron & Jensen, P.C. In your initial consultation, you will learn about the full impact bankruptcy may have on your life and your finances.
Call LeBaron & Jensen, P.C. to discuss filing for bankruptcy as a senior citizen at (801) 773-9488 in Layton.
Foreclosure and Bankruptcy
Many clients who are considering bankruptcy are also facing foreclosure. If you are under extreme financial duress and need to postpone a foreclosure, you may benefit from filing bankruptcy. When you file chapter 13 or chapter 7 bankruptcies, you get an automatic stay which prevents your home from being foreclosed for a period of time. The automatic stay prevents all creditors from seeking further action for at least 3-4 months.
With a Chapter 13 bankruptcy you can make a payment plan to bring mortgage arrears current while continuing to pay your ongoing mortgage payments. As long as you make all of the current payments and continue to make the payments on your past due payments, you can prevent the foreclosure from being completed. If you have a 2nd and 3rd mortgage on your home, you may be able to eliminate and strip off that debt through a Chapter 13 bankruptcy if the entire value of your home is secured by your first mortgage.
Call LeBaron & Jensen to discover how you can delay or eliminate foreclosure with a bankruptcy at (801) 773-9488 in Layton.
We’re a talented group of attorneys interested in helping our clients get a fair settlement for their Personal Injury Cases.
Our clients are grateful for support and compensations we have helped them receive!
The attorney's at LeBaron & Jensen share a will to win, but not at your expense. They're caring, transparent and competent attorney's with a strong work ethic. I've enjoyed working with Chase Adams who helped settle a dispute. He proved to be resourceful, diligent, thoughtful and responsive. Personality is as important as the attorney's skill set and experience. Chase Adams will take his time to make sure your expectations are in line with your needs. A settlement is always better than negotiating or fighting with difficult to read Pleadings. What is Chase's strategy? To get great results and stay out of court. But if your case warrants court, Chase Adams is comfortable in front of a judge and at the settlement table. You'll enjoy the effort that the attorney's with LeBaron & Jensen will make to minimize your expense and maximize value.
Darrell C.
- Positive: Professionalism, Quality, Responsiveness, Value
John C.
- Positive: Professionalism, Quality, Responsiveness, Value
Kory D.
I had a great experience with LeBaron & Jensen P.C. They kept in contact with me throughout the entire process, and were extremely informative and explained anything I didn’t understand about the proceedings of the case. I would highly recommend LeBaron & Jensen to anyone seeking Legal representation. I was driving westbound on Highway 193 in Clearfield Utah, when I came to the intersection of 1000 East and Highway 193. I noticed that a firetruck was travelling east towards the intersection with its emergency lights on, all traffic around me, including myself, slowed to a stop to allow the firetruck an unimpeded path to travel. However, I noticed the Jeep behind me wasn’t slowing down. There wasn’t anything I could do to avoid the collision, so I just braced for impact. Although I was wearing my seatbelt, I still suffered many injuries to my neck, shoulders, back, and arms. About a month after the accident I finally sought medical help for my injuries. I underwent many years of treatment for my accident-related injuries, including a carpel tunnel surgery and 2 rhyzotomy procedures, x-rays, MRIs causing me to incur over $60,000 in medical expenses. I decided I should seek legal help with my case, as I knew there was no way I could pay my medical expenses on my own. The legal team at LeBaron & Jensen were exceptional. They were able to negotiate with my health insurance and medical providers, lowering costs where they could. When all my legal and medical fees were paid, I was left with over $79,000. This money will help me pay for the future treatment that I will have to receive to try and help alleviate my future pain and suffering. I’m grateful for LeBaron & Jensen P.C. and everyone there who helped with my case! I thank them every day for the patience and persistence it took to see this through to a beneficial end.
Lora B.
- Positive: Professionalism, Quality, Responsiveness, Value
Paul B.
LeBaron & Jensen did a great job for me, kept me informed throughout the process, and helped make sure that I got the compensation I needed. I would absolutely recommend them to anyone who is suffering after an accident like mine. I was driving eastbound on Highway 193, a four-lane highway in Layton, Utah. I came to a stop at the two-way intersection of Highway 193 and North Hills Drive. The other driver failed to yield to my right-of-way and proceeded southbound through the intersection, I wasn’t able to stop fast enough, and I T-boned the other vehicle at a high speed. The impact of the crash was so severe that it triggered my vehicle’s airbags. The severity of the crash caused many serious and extensive injuries to my neck, back, shoulders, and head. Thankfully, I was restrained by my seatbelt, which prevented any worse injuries. I had to receive treatment for over a year and a half following the accident, including surgery on one of my shoulders. I was faced with $76,000 in medical bills. I knew I needed help, so I contacted LeBaron & Jensen P.C. Their attorneys worked diligently and negotiated with my insurance providers. After paying all my medical and legal fees, I was still able to pocket $51,000 to compensate for the pain, and suffering I endured because of the accident.
Ted D.
In January of 2014, my husband was involved in a terrible accident. He was driving on highway 89 in Wellsville, UT, when another driver ran a stop sign and pulled out in front of him. He tried to swerve out of the way, but he wasn’t able to avoid hitting the other vehicle. The resulting impact was so severe that even though he was wearing a seatbelt, he was violently thrown around in the cab of his truck and, as a result, hit his head on the windshield. This caused many injuries to his shoulders, back, and neck. My husband also suffered massive bruising and internal damage, and that’s not even the full extent of the injuries he suffered. He had to receive extensive treatments, including several shoulder surgeries, to try and help alleviate the pain he suffered because of the accident. Even after he underwent all those treatments he was still left in immense pain, and to top it all off, he was diagnosed with cancer in July of 2016. He decided to put off treatment for his shoulders to try and focus on his cancer treatments. He passed away in October of 2017. LeBaron & Jensen were there fighting for us through it all. They were able to get a settlement that covered all of Robert’s accident-related medical bills and all the required legal fees and additional money for his pain and suffering as a result of the accident. I’m so grateful for LeBaron & Jensen and all their support for myself and my husband through the years.
Ruth B.
- Positive: Professionalism, Quality, Responsiveness
Abriam B.
- Positive: Professionalism, Quality, Responsiveness
JoNell R.
- Positive: Professionalism
Wallace H.
Contact LeBaron & Jensen Attorneys Today.
LeBaron & Jensen has decades of combined experience handling a variety of personal injury cases throughout the mountain states. We provide free, no-obligation consultations for a variety of personal injury claims.
LeBaron & Jensen, P.C.
1241 N Main St, Layton, UT 84041
Email: miles@lebaronjensen.com
Phone: 801.773.9488