Hi ladies and gentleman. My name is Ryan Simpson and today we are going to talk about Chapter 13 bankruptcy in Salt Lake City. I’m a Utah bankruptcy attorney and I want to help and assist you with a basic understanding of the complex topics regarding getting out of debt. I have been practicing law for many years. Learn more about me at https://bnkutcom.weebly.com
Today, I want to talk about the benefits of filing for a chapter 13 and the situations when filing one does not help. It is important that you understand how it works so you make the best out of your time and resources. If your car was purchased more than two and a half years ago, then you may not have to pay the full loan balance. If it was purchased more than two and a half years ago when you only pay for the value of the car.
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Another benefit is the scope of the discharge is broader. Debt that was incurred during a divorce is dischargeable. However, this is not true for support litigations. The situations in which the Chapter 13 does not help include the mortgage. So, if you are unable to pay it would only stop a foreclosure. It does not modify the mortgage, unfortunately.
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We want to set you up for success and we want to let you know what to expect. Make sure you stay on top of your payments because you do have to sign a paper that shows that you are doing what you are legally required to do. Now if something unexpected happens and you can’t make a payment on time then let us know. If you communicate with us there are certain things we can do. For example. We can ask for suspension or we can ask for additional time. There is a lot that we can do to protect you.
If you are sending in the money and you are a little bit late that is ok. Communicate with us your problems. The creditors will meet you in a private room so you have privacy when they ask you questions. Our top attorney will show you exactly what you need to know about that meeting. The easiest way to go through this is to go to through a dry run. Without further due, we will show you what a 341 hearing is like. The main point is you have to tell the truth. If you don’t remember an answer you can say you don’t remember. If you need to make any changes just let us know and will honor those corrections. We just supply the information, you make your payments, and you do what you are supposed to do. It’s as easy as that.
If they are taking the money from payroll deduction that is the best way to do it. We want your case to be fully successful. If you have any friends or relatives who could use our services in similar situations then let us know. A lot of people now are having trouble with their mortgage payments because those credit card people are driving the nuts. We don’t want that to happen to you. So, anybody, you want to refer to us we will be happy to help. We also do loan modifications. A lot of people are getting their loans reduced on their mortgage.