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Best Bankruptcy Attorneys in Ogden

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Blue Bee Bankruptcy Law logo
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Blue Bee Bankruptcy Law

225 South 200 East, Salt Lake City, UT 84111
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy
  • Chapter 11 Bankruptcy

Business Description

Blue Bee Bankruptcy Law helps clients Ogden navigate the bankruptcy process. Bankruptcy lawyers Chip Parker and Brett Weiss help individuals seeking relief from debts file for chapter 7 or chapter 13 bankruptcy. Furthermore, they help businesses pursue chapter 11 bankruptcy as a way of reorganizing debts and maintaining operations. Parker and Weiss have been sharing their bankruptcy knowledge for years. Parker has been interviewed on the subject by national media, while Weiss has co-written a book on the topic.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Google
4.9 / 5 (158)
Facebook
5.0 / 5 (11)

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We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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David M Cook logo
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David M Cook

716 E 4500 S, Suite N240, Salt Lake City, UT 84107
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

David M Cook works with people and families in the Ogden area who are having difficulty meeting their financial commitments. Its founder, David Cook, is a bankruptcy lawyer who takes the time to explain the benefits and risks of bankruptcy to his clients and guides them in their decision-making. He also evaluates clients' existing financial situations to determine whether chapter 7 or 13 bankruptcy is the best option for them. Cook belongs to various professional organizations, including ABI and NACBA.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Google
4.9 / 5 (60)
Yelp
5.0 / 5 (2)

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We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Gregersen Law logo
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Gregersen Law

1412 Legend Hills Drive, Clearfield, UT 84015
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

Gregersen Law is a bankruptcy law firm that serves clients throughout the Ogden metro and nearby areas. The firm provides legal assistance to clients dealing with bankruptcy and assists them with filing for chapter 7 and chapter 13. It also deals with related matters like wage garnishments, eviction, repossession, and foreclosure. In addition, the firm manages issues on student loans, payday loans, and personal credit. Its principal lawyer, Mark Gregersen, has over 30 years of litigation experience.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (5)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
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Harward & Associates Attorneys At Law logo
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Harward & Associates Attorneys At Law

6605 South Redwood Road, Salt Lake City, UT 84123
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

Harward & Associates Attorneys At Law serves clients across the Ogden metro. The firm assists clients in chapter 7 and chapter 13 filings and offers aggressive counsel in high-conflict proceedings. The firm's other practice areas include business, family, employment, and international law. Its managing partner and namesake, James Harward, has more than three decades of legal experience and served in the Utah State Tax Commission as an administrative law judge.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.2
Google
4.0 / 5 (44)
Facebook
4.6 / 5 (15)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Justin M. Myers Attorneys at Law, LLC logo
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Justin M. Myers Attorneys at Law, LLC

1122 W. South Jordan Pkwy. Suite A, South Jordan, UT 84095
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

Justin M. Myers, Attorneys at Law, LLC, provides Ogden-based clients with options involving chapters 7 and 13 bankruptcies. Myers utilizes his prior auditing experience under the Utah State Tax Commission and PricewaterhouseCoopers to offer educative counsel on finance-related matters. He also offers one-on-one guidance and communicates with clients on ways to navigate credit counseling sessions and create bankruptcy petitions. Myers has worked under two judges at the U.S. Bankruptcy Court for his externship during his time in law school.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Google
4.9 / 5 (40)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Law Firm of Ryan D. Baxter, LLC logo
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Law Firm of Ryan D. Baxter, LLC

2036 Lincoln Avenue, Ogden, UT 84401
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  • Debt Settlement

Business Description

The Law Firm of Ryan D. Baxter, LLC, has over 12 years of experience handling bankruptcy matters in Ogden. As a bankruptcy lawyer, Ryan D. Baxter represents debtors, creditors, and trustees in chapter 7 and 13 bankruptcy proceedings. His consumer bankruptcy services aim to eliminate or reduce debts, stop foreclosures, repossessions, and garnishments, and help clients recover from financial troubles. He walks clients through their legal options, determines whether they qualify for bankruptcy, and files bankruptcy declarations for eligible debtors. This bankruptcy law firm also offers debt negotiation.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Google
4.8 / 5 (49)
Yelp
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Law Offices of Laura Ferrin logo
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Law Offices of Laura Ferrin

9130 S. State Street, Suite 120, Salt Lake City, UT 84070
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

The Law Offices of Laura Ferrin is a bankruptcy firm that offers legal solutions to the financial burdens of Ogden individuals and couples. It counsels clients in chapters 7 and 13 bankruptcy filings, starting from evaluation and debt reorganization to plan implementation. Laura Ferrin and her team customize debt recovery plans according to the needs and situations of each client. Ferrin established the firm in 2008. She is a member of the NACBA and the Utah Bankruptcy Lawyers Forum.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Google
4.9 / 5 (26)
Avvo
5.0 / 5 (14)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Law Offices of Marji Hanson logo
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Law Offices of Marji Hanson

Newport Center 352 South Denver Street Ste. 240, Salt Lake City, UT 84111
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

The Law Offices of Marji Hanson helps clients in dealing with bankruptcy matters in Ogden. Marji Hanson, the founding lawyer, has represented thousands of debtors in chapters 7 and 13 bankruptcy proceedings for decades. She personally interviews clients to obtain pertinent information, discusses options between managing or eliminating debt, and oversees the preparation and filing of petitions. Hanson is a member of the National Association of Consumer Bankruptcy Attorneys and the Women Lawyers of Utah.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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LeBaron & Jensen P.C. logo
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LeBaron & Jensen P.C.

1241 North Main Street, Layton, UT 84041
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

Established in 2004, LeBaron & Jensen, P.C., seeks to serve the legal needs of clients in the Layton and Ogden areas. The law firm practices in several areas, including bankruptcy. Its bankruptcy lawyers help clients determine if they are eligible to file for bankruptcy. They guide clients in choosing from several bankruptcy types depending on their situation. If the clients opt to file for chapters 7, 11, or 13 bankruptcy, the firm also offers credit counseling sessions.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (16)
Avvo
5.0 / 5 (2)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Morrison Law Group logo
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Morrison Law Group

290 25th Street, Ogden, UT 84401
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy
  • Debt Settlement
  • IRS Tax Debt

Business Description

Morrison Law Group is a bankruptcy law firm that handles Utah bankruptcy filings. With offices in four cities, the firm has helped over 8,000 families with its debt relief services since it was founded in 2004. One of its offices is in the city of Ogden, where it is the only law office that specializes in bankruptcy and other debt-related issues. Among the cases it works with are chapter 7 and chapter 13 bankruptcies, delinquent taxes, loan modifications, and protection from illegal collection.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.2
Google
4.4 / 5 (101)
Facebook
3.7 / 5 (3)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Paul Benson Bankruptcy Attorney logo
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Paul Benson Bankruptcy Attorney

2650 Washington Boulevard, Ogden, UT 84401
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

Paul Benson, Bankruptcy Attorney is a sole practitioner lawyer who provides legal services in Ogden. His team works on bankruptcy cases under Chapter 7 and Chapter 13 of the Bankruptcy Code, commonly known as liquidation and reorganization bankruptcy, respectively. Benson aims to help his clients determine if filing for bankruptcy is the right decision for them and to guide them to get their fresh start with a strategic plan. His services are available to bankruptcy candidates across the state.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.3
Google
4.5 / 5 (29)
Facebook
3.8 / 5 (10)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Porter Law Firm logo
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Porter Law Firm

2562 Monroe Blvd, Ogden, UT 84401
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

The Porter Law Firm has been working with clients in Ogden and the surrounding areas since 2014. Its lawyers counsel people struggling with debts and help them file for bankruptcy under chapters 7 or 13, whichever suits their situations. They also assist in halting repossessions and foreclosures. In addition, they advise clients on estate planning and business law matters. The legal team is committed to providing individuals and families with the assistance they need to navigate the complexities of the legal system.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Google
4.8 / 5 (63)
Avvo
5.0 / 5 (6)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Robert S. Payne logo
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Robert S. Payne

8833 S. Redwood Road Suite C, West Jordan, UT 84088
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy
  • Debt Settlement

Business Description

Robert S. Payne is a West Jordan-based attorney who provides legal solutions to clients in and around Ogden. He works with clients in determining options involving chapter 7 and 13 bankruptcy to address issues concerning foreclosure, collections, repossession, and wage garnishments. His services also include consultations on the creation of repayment plans, loan agreements, and outstanding mortgage payment setups. Throughout the span of 12 years in the legal field, Payne has taken on more than 2,600 bankruptcy cases in the local area.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (78)
Facebook
5.0 / 5 (4)
Yelp
5.0 / 5 (4)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Rocky Mountain Law Office logo
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Rocky Mountain Law Office

3319 Lincoln Ave #101, Ogden, UT 84401
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

Rocky Mountain Law Office is a general practice firm that serves clients in the Ogden community. Founding attorney Scott Wilding caters to clients filing for chapters 7 and 13 bankruptcy and helps them understand the process. He also handles divorce, adoption, and personal injury cases. Additionally, he defends people facing criminal charges for driving under the influence of drugs or alcohol and those looking to create an estate plan. Wilding is admitted to practice at the United States District Court.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
3.8 / 5 (13)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Sean Wood Attorney at Law logo
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Sean Wood Attorney at Law

377 N Marshall Way, Ste 1-D, Layton, UT 84041
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy
  • Debt Settlement
  • Chapter 11 Bankruptcy

Business Description

Sean Wood, Attorney at Law takes on cases and inquiries concerning bankruptcy and real estate law in areas within Ogden. Wood consults with clients in comprehensive discussions to help them overcome technical pitfalls and create strategies involving tax refunds. In addition, his counsel works to identify details in each client's specific financial situation to determine the viability of filing for chapter 7, 11, or 13 bankruptcy in the long term. Wood also addresses inquiries involving proofs of claims, credit histories, and creditor meetings.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (71)
Avvo
5.0 / 5 (35)
Facebook
5.0 / 5 (24)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
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Detail
––
The Bankruptcy Firm logo
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The Bankruptcy Firm

4850 Harrison Boulevard, Ogden, UT 84403
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  • Debt Settlement

Business Description

The Bankruptcy Firm in Ogden has been handling bankruptcy cases in the Utah area for two decades. The team of bankruptcy lawyers includes Attorneys E. Kent Winward and Abraha O. Smoot, VII. The legal team guides clients in deciding whether filing for bankruptcy is the right solution for their financial situation. It assists clients in filing for bankruptcy to stop creditors from filing lawsuits, repossessing assets, serving foreclosure papers, and garnishing wages. The lawyers have experience in Chapter 13 bankruptcy.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Google
5.0 / 5 (35)
Facebook
4.5 / 5 (8)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Utah Bankruptcy Clinic logo
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Utah Bankruptcy Clinic

1140 36th Street, Ste 205, Ogden, UT 84403
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

With offices in Salt Lake City and Ogden, Utah Bankruptcy Clinic is a bankruptcy law firm focused on helping clients navigate through the bankruptcy process. It advises clients who are considering the filing of either a chapter 7 or chapter 13 bankruptcy to help alleviate their financial situation. Through this, clients can insulate themselves from wage garnishments, home foreclosures, and other collection activities, depending on the result of the case.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Google
4.9 / 5 (61)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Utah Bankruptcy Professionals logo
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Utah Bankruptcy Professionals

9227 S 1300 E,, Sandy, UT 84094
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

Utah Bankruptcy Professionals is a law firm that caters to individuals and small businesses in and around Ogden. It assists clients in consolidating, reducing, and eliminating debt in chapter 7 and chapter 13 bankruptcy cases. The firm is led by Jody L. Howe, who has been a bankruptcy law practitioner for more than 30 years. She is a member of the National Association of Consumer Bankruptcy Attorneys and the Utah Chapter of the Federal Bar Association. She has published a book called Utah Bankruptcy Law Handbook.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.4
Google
4.4 / 5 (17)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Watton Law Group logo
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Watton Law Group

311 South State Street Suite 280, Salt Lake City, UT 84111
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy
  • Bankruptcy

Business Description

For over 20 years, Watton Law Group has been helping clients in Ogden with debt consolidation and loan repayment. Attorneys at the firm help clients regain control of their finances by developing a customized plan. They help evaluate clients' situations and assist them in filing for chapter 7 or 13 bankruptcy. They also handle class action litigation in federal and state courts. Michael J. Maloney, the firm's bankruptcy department head, is also licensed to practice in Missouri and Wisconsin.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Google
5.0 / 5 (172)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
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Back to Providers

Frequently Asked Questions

What does a bankruptcy attorney do?

Bankruptcy attorneys help clients understand whether they qualify for bankruptcy and what their best options are. They also prepare and file petitions, answer questions during the proceedings, and educate clients about potential best steps for a positive bankruptcy outcome. Bankruptcy attorneys might also file motions or paperwork if creditors dispute the bankruptcy, or to stop creditors from taking collections actions forbidden by the bankruptcy.

What happens when you file bankruptcy?

Bankruptcy is a formal process that individuals, married couples, or businesses can enact when they are no longer able to pay creditors. In a bankruptcy proceeding, filers are allowed to reduce debt to more manageable levels to best pay off money owed.

Once the bankruptcy process is initiated, debt collectors can no longer seek repayments outside of the arrangements detailed in the bankruptcy settlement. Some forms of bankruptcy result in the liquidation of assets to pay back debts, while others allow filers to retain most of their possessions and investments. Many types of unsecured debt can be managed with bankruptcy filings, but not all.

Can you file bankruptcy on student loans?

Under most circumstances, student loans aren't dischargeable and aren't included in bankruptcy proceedings. In rare cases, it may be possible to eliminate student loans through bankruptcy, but only if the courts determine that continuing to pay the loans would impose an undue hardship. Meeting the criteria for undue hardship is challenging, and most bankruptcy filers don't qualify.

What is bankruptcy fraud?

Bankruptcy fraud is a blanket term that refers to any kind of dishonest bankruptcy proceeding, which can include:

  • Hiding assets by transferring them to another person or entity
  • Intentionally omitting assets when reporting to the court
  • Destroying or withholding required documents
  • Knowingly making false statements to bankruptcy trustees or creditors

How long is bankruptcy on public record?

How long bankruptcy stays on public record depends on the kind of bankruptcy filing in question. Chapter 7 bankruptcy remains on the record for 10 years as there isn't necessarily a repayment component. Chapter 13 bankruptcy remains on the record for seven years as some obligations are repaid following filing based on the terms of a discharge settlement.

Does bankruptcy clear tax debt?

Bankruptcy can clear tax debt, depending on the circumstances. Taxes are dischargeable under Chapter 7 bankruptcy, not Chapter 13, and only if the tax debt is:

  • Federal income tax debt related to current properly filed tax returns
  • Honestly incurred with no fraud or evasion
  • At least three years old
  • Assessed at least 240 days before bankruptcy filings

Existing liens are not eliminated with bankruptcy.


Can they take my car in Chapter 7 bankruptcy?

In many cases, it's possible to keep a vehicle following Chapter 7 bankruptcy. The Chapter 7 Motor Vehicle Exemption allows filers who own their vehicles outright or who are up to date with payments to keep their cars. However, those behind on making car payments are required to arrange a repayment plan. Otherwise, the vehicle may be repossessed as a part of the proceedings.

How bad is it to file bankruptcy twice?

Although possible, due to the damaging nature of bankruptcy, filing bankruptcy more than once isn't recommended. Filing multiple times puts a serious burden on one's credit report, making it harder to get a loan, buy a house, buy a car, or even open credit cards.

Note that filing for bankruptcy isn't something that can be done at a filer's leisure. There are time limits following bankruptcy cases that dictate when it's permissible to file again. For example, after Chapter 7 bankruptcy, filers must wait at least eight years before filing Chapter 7 again or four years before filing Chapter 13.

Can anyone file bankruptcy?

Anyone can file bankruptcy, but there are limitations regarding which form of bankruptcy is permissible. Qualifying for Chapter 7 requires a means test that evaluates income, debt levels, and income left over each month after paying basic obligations. Income over the median set by the court and monthly income that allows meaningful payments toward unsecured debt can disqualify filers from Chapter 7, which is generally the preferred form of bankruptcy due to the possibility of a full discharge. Anyone can file Chapter 13 bankruptcy, but the terms are less favorable. In most cases, some debts must be repaid following a successful filing. Chapter 13 is also more likely to result in asset forfeiture.

How will bankruptcy affect my credit score?

Bankruptcies are noted on credit reports. How much a bankruptcy might drop a person's credit score depends on how high the score was to begin with, but generally speaking, the hit can be as much as 100 to 200 points. Often scores are already dropping because people filing for bankruptcy may have already missed payments on debts. Chapter 13 bankruptcies are listed on credit reports for seven years from the filing date, while Chapter 7 bankruptcies are listed for 10 years from the filing date. This is because Chapter 13 bankruptcies require at least partial payment of debts owed.

What are the benefits of filing for bankruptcy?

Filing a bankruptcy petition causes an automatic stay. This legally stops creditors from taking further action to collect debt, including garnishing wages or foreclosing on property. Going through a bankruptcy successfully means that debts included in the bankruptcy are discharged and don't have to be paid back, except as provided in a Chapter 13 repayment plan. Bankruptcy can help someone recover from financial duress so they can make better decisions and improve financial situations in the future. Disadvantages can include temporary lower credit scores and limitations on spending and financing.

What's the difference between debt settlement and bankruptcy?

Debt settlement occurs when people negotiate with individual creditors. The creditor agrees to take a payment that's lower than what someone owes and call the debt “paid in full.” Bankruptcy is a legal process that causes debts to be dismissed after someone proves they don't currently have the means to pay their debts as owed. Typically, someone can't enter into bankruptcy and also settle some debts, because the court would see that as favoring one creditor over another.

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