After Utah became one of the top states in the nation with a huge amount of bankruptcies being filed, teens were required to take a course on finances in order to graduate and fulfill state law. Many people around the country praise the state’s efforts to educate young people on how to improve their finances. Recent reports have shown the state has implemented the policy better than other states by requiring students learn about this complex subject.
Although the state has made some progress there is still many areas to work on. Hire a Salt Lake City bankruptcy attorney to educate you on the benefits of handling your finances before it’s too late.
What makes Utah’s approach unique
The financial literacy course has been taught in Utah’s high schools for over a decade now. There are some specific standards that have been implemented. The curriculum includes the setting of goals, investing, savings, income, and careers as well as retirement plans among other subjects. Students need to pass the 72-question test in order to graduate from high school and teachers are also required to get at least 16 credit hours in order to be equipped to teach the class. Utah’s financial literacy website provides all the information regarding this important requirement.
Huge bankruptcy problems in the state
Although the number of bankruptcies filed in the state have declined dramatically, about 14%, Utah still has the fourth highest filing rate per capita in the nation. Also, a number of people seeking financial legal counsel in Utah are very low. They wait until the bills are too many and there is no money in their bank accounts to seek financial advice or file for bankruptcy.
Nobody likes to deal with their financial burdens alone. When it comes to money, an extra hand is always helpful. When creditors start bombarding you with calls and sending their hate mail, the nightmare has just began. Some people are threatened with lawsuits, foreclosure, repossessions, and even wage garnishment.
Hire an attorney to represent you
Perhaps you are facing a lot of stress due to your financial problems. Although people without a lot of income may be able to file Chapter 7 bankruptcy on their own, this process will require a lot of research and time invested on it. There is also a lengthy set of forms to fill out and you will also represent yourself at all the required hearings.
It’s best you talk to a Salt Lake City bankruptcy attorney that will explain what your options are. Some attorneys are more affordable than others but remember the person you choose to represent you is very essential to the outcome of your case. When you visit Justin M. Myers you will experience the difference. He will be highly involved in every aspect of your case and trace a plan that will alleviate your financial burdens. To schedule your initial consultation, call today!