How to File for Bankruptcy in Utah
Filing for bankruptcy is a complex legal process. It's important to consult with a qualified bankruptcy attorney in Utah to ensure you are following the correct process for your situation.
The very first step to taking back control of your finances is determining which type of bankruptcy is right for you:
- Chapter 7 bankruptcy: This is a traditional wipe-out bankruptcy in which all general debts are eliminated. This includes credit card debt, medical debt, and signature loans. It is extremely effective in wiping your slate clean, providing you with a fresh start.
- Chapter 13 bankruptcy: This type of bankruptcy also provides a fresh start, but it does so through debt consolidation. It allows you to pay back what you can afford, while wiping out the rest. Simply put, Chapter 13 will let you settle your debt for pennies on the dollar.
The next step in the bankruptcy process is to complete credit counseling. In the United States, you are required to undergo credit counseling from a government-approved agency before filing for bankruptcy. This counseling helps you explore alternatives to bankruptcy and provides education on managing finances.
When you are ready to file for bankruptcy, your attorney can help you complete and submit the necessary bankruptcy forms. These forms include detailed information about your financial situation, assets, debts, income, and expenses. Your attorney will then file the bankruptcy petition and accompanying forms with United States Bankruptcy Court for the District of Utah. This officially initiates the bankruptcy process.
For more information about the bankruptcy process in Utah, contact Watton Law Group today. Our team can fully explain the steps involved in filing for bankruptcy and help you determine if bankruptcy is the right choice for you. Give us a call at (801) 807-1770.
Will Bankruptcy Clear All Debt?
Unfortunately, neither Chapter 7 nor Chapter 13 will impact certain debts. Student loan debt and past-due child support and alimony are a few examples. That noted, if these debts are the primary strain on your financial situation, it may be possible to find relief by liquidating or reorganizing other debts.
We encourage you to reach out to our attorneys to discuss whether bankruptcy could benefit you. We are proud to offer no-cost, no-obligation consultations to all prospective clients. We also serve clients throughout the entire state from our office in Salt Lake City, so don't wait to get started.
Trust Our Team of Experienced Bankruptcy Lawyers in Utah
Crushing debt can leave you with scarce employment and housing opportunities, as well as cause strife in your personal relationships. For parents, debt will likely also impact their children, such as by getting in the way of their education. Whether the culprit was an unexpected job loss, disability, or other hardship, Watton Law Group is here to help.
Backed by over 25 years of experience, our lawyers are nationally known for their skill in guiding Utah residents through the process of bankruptcy. We understand that every case is unique, which is why we take a tailored approach to our work. For some of our clients, a liquidation bankruptcy may provide the best solution to their financial problems; others may find reorganization to be more advantageous. We will explore all available avenues to give you the best chance at a successful, debt-free future. We also offer our clients assistance with creating practical budgets so that they can regain financial stability—and maintain it.
At Watton Law Group, our legal team has helped thousands of clients climb out of debt. We are known for the genuine care we put into each case we take on; with us, it’s personal. No matter how complicated your situation may seem, we have what it takes to help you get back on your feet.
Call (801) 807-1770 or contact us online to schedule a free, confidential consultation with a Utah bankruptcy lawyer.