Filing for Bankruptcy in Utah
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.
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
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 to schedule your free, confidential consultation with a Utah bankruptcy lawyer.