How Bankruptcy can Negatively Affect your Life

Have you been contemplating bankruptcy lately? While there are pros and cons to bankruptcy you need to be aware of all aspects of what it can do to your credit and your life. Talking to the Bankruptcy Attorneys at Robinson, Seiler & Anderson in Provo can help you in making the right decision. We have gathered some possible results of bankruptcy that could negatively affect your life.


Credit Reports

As most people know, when you file for bankruptcy your credit score is negatively affected. Credit reporting agencies may including a Chapter 7 bankruptcy on your credit report for 10 years after the bankruptcy discharge. Chapter 13 bankruptcy information, along with other negative reporting, is usually removed after seven years. While you may be able to get your credit score back up to a reasonable number the bankruptcy information will stay on your credit reports.



While it is illegal to ask about your credit in a job interview, your future employer might run a credit check on their potential employees, especially for positions that require handling finances or client funds. You will be forewarned the prospective employer is checking your credit history, however, as they cannot do so without a signed release from you.


Housing Options

If you plan on buying a house within the next few years you will want to know about the negative affects a bankruptcy can have on your mortgage. A bad credit score can even effect your ability to get into a new rental. Securing a lease before you file for bankruptcy can help ensure you have a safe place to live, provided your credit rating has not already gotten so bad that landlords will turn you down even without the bankruptcy.


Credit Cards

With a bankruptcy you should expect to have all of your credit cards removed from your possession. To help you in rebuilding your credit after a bankruptcy you can receive a credit card with a higher interest rate. A secured credit card may be the best option initially. After a year or two of making timely payments, you might be able to obtain a card with better terms to help work your way toward a positive credit rating.

View Our Testimonials Announcement

Norman H. Jackson, Utah Court of Appeals Judge, Retired, has joined the law firm of Robinson, Seiler & Anderson, LC, effective April 2017.  Judge Jackson was one of the seven founding Judges of the Utah Court of Appeals and served terms as Presiding and Associate Presiding Judge.
Judge Jackson was the senior attorney in a Richfield law firm for eighteen years.  The firm engaged in legal, business and tax cases, including practice before State and Federal Courts, U.S. Board of Land Appeals, Utah Public Service Commission and Arizona Corporation Commission.  Clients included counties, cities, banks department stores, communications and credit associations, irrigation companies, auto dealers, building supply stores, farmers, ranchers and small businesses. They took “every type of case that came through the door,” from criminal defense work to a patent royalty dispute for the inventor of the Frisbee. Judge Jackson has been a lifetime rancher doing business in Utah as Jackson Cattle Company and Arizona as EJ Cattle Ranches.
Judge Jackson’s professional service includes terms on the Utah State Bar Commission, Bar Foundation (President and Vice President), Air Travel Commission, and Utah Information Technology Commission.  He served on the Judiciary’s Alternate Dispute Resolution Committee for thirteen years and initiated and supervised the Appellate Court Mediation Office.  He developed and advanced a realistic and workable framework for both of Utah’s Appellate Courts to use in reviewing trial court and administrative agency decisions.  He published three editions of Utah Standards of Appellate Review while participating in more than 2,000 appellate court decisions.  
Judge Jackson’s experience will complement the other outstanding lawyers at Robinson, Seiler & Anderson, LC.  The firm will continue its representation of injured individuals, as well as clients in real estate, business, estate planning, tax, contract and education matters.

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