Will I be able to rent an apartment or house after I file for bankruptcy?

A landlord can legally refuse to rent you an apartment because of a prior bankruptcy in your credit report. However, if you are presently renting a home or an apartment, your present landlord will typically renew your lease without running an updated credit report, and will probably not know that you filed for bankruptcy. If you are applying for a new lease, you may encounter some difficulties that we can help you overcome. Offering to make a larger security deposit may be enough for a potential landlord to overcome his/her concerns.

Will bankruptcy stop a lawsuit against me?

If you are being sued, we strongly urge you to speak with an Attorney at Davis & Jones, P.C. about filing for bankruptcy. A bankruptcy filing will stop a lawsuit immediately and prevent your creditors from placing a lien against your house or garnishing your wages.

Will bankruptcy stop my home from being foreclosed and/or my car from being repossessed?

Bankruptcy can prevent a foreclosure of your house or a repossession of your car. An "automatic stay" arises by law the instant a bankruptcy is filed. The automatic stay stops the foreclosure process and prevents any collection actions, such as repossessions or garnishments. Bankruptcy may also allow you to consolidate your mortgage arrears or automobile balance, and make payments on those debts over time through a repayment plan designed by the bankruptcy Attorneys of Davis & Jones.

How do I rebuild my credit after filing for bankruptcy?

Although bankruptcy may be legally reported on your credit report for up to 10 years, you can begin to reestablish your credit immediately after your bankruptcy discharge. Lenders will consider many factors while determining whether or not to extend your credit, but the most important of all factors is your debt-to-income ratio. Based on the credit scoring models currently used by the credit reporting agencies, a debtor's credit score often actually improves upon the filing of a bankruptcy because of the elimination of debt.

Who will know about my bankruptcy?

Parties that receive notice of a bankruptcy are your creditors, the Bankruptcy Court, the IRS and the Utah Department of Revenue. Bankruptcy is a public record, so anyone who wants to try to find out about your bankruptcy could find out about it. Many people believe that notices of all bankruptcies are printed in the newspapers, but this is not true.

I only want to file bankruptcy on certain creditors, but not on others. Is this possible?

No. You are required by law to list all of your creditors, including friends and family members who have loaned you money. Intentional failure to list a debt is a serious matter and could result in a denial of your entire bankruptcy discharge. However, you are not prohibited from voluntarily paying selected debts after you file for bankruptcy. Attorneys Davis & Jones, P.C., can explain how you can legally repay any debt you want, after your bankruptcy is over, on a purely voluntary basis without a reaffirmation agreement.

Do I have to go to court?

You must attend a first meeting of creditors. Your Davis & Jones, P.C. Attorney will be with you at this meeting. This meeting is held in a hearing room used by the bankruptcy trustees, not in court. The trustee will ask you questions regarding your bankruptcy filing. If any of your creditors are present, they can also ask you questions. However, creditors rarely attend this hearing, and if they do, they rarely ask questions. Your attendance at this hearing is mandatory, and failure to appear can result in dismissal of your case.

Will bankruptcy get me out of child support or spousal support payments?

No. Under both old and new bankruptcy laws, child support payments and spousal support payments are not dischargeable in a bankruptcy proceeding.