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Experienced Bankruptcy Attorney serving Midvale, UT and Surrounding Areas
The word bankruptcy seems like a scary thing to many people. While you may not have intended to ever go down this road, it is sometimes necessary to regain control of your finances. Life doesn’t always work out the way we plan and this means bankruptcy could be part of your future. Let's have a conversation to determine if bankruptcy is the right road to take to help you reset your finances. If it is not, I'll propose another solution. The consultation is free, so there is no reason not to speak with a bankruptcy attorney who can give you the proper advice.
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Filing Chapter 7 Bankruptcy in Utah
Chapter 7 bankruptcy is the only type of bankruptcy that liquidates or gets rid of all of your debts without requiring you to pay anything back. In order to file under Chapter 7, debtors need to meet certain income requirements depending on their family size. In most cases, debtors are able to keep all of their property. Careful planning with your attorney will ensure that you retain most, if not all, your personal property.
Filing Chapter 11 Bankruptcy in Utah
Chapter 11 bankruptcy is an effective tool for viable businesses and high net worth individuals to restructure their debt in the face of severe financial strife. Unlike other chapters of the bankruptcy code, the debtor is in the driver’s seat of the proposed restructuring plan. Although creditors will need to approve of any deal, it is often the best option for debtors to get out of debt.
Not many Utah law firms have experience with Chapter 11 bankruptcy filings. Fortunately, Summit Bankruptcy Group has years of experience handling a variety of bankruptcy cases, including Chapter 11 bankruptcy. We can assist businesses, sole proprietors, and others with filing for federal bankruptcy protection under Chapter 11 or Chapter 7 bankruptcy when they are unable to meet creditor obligations. Chapter 11 allows the business debtors to act as debtors in possession where they are able to retain control of business operations under judicial oversight.
Filing Chapter 13 Bankruptcy in Utah
Are you dealing with serious delinquencies and debt? Summit Bankruptcy Group is here to help you regain control over your finances. Chapter 13 bankruptcy allows many individuals to find financial relief through this repayment bankruptcy plan.
The primary difference between a Chapter 13 bankruptcy and a Chapter 7 is that under Chapter 13, debtors pay some of their debt back to their creditors over a 3-5 year period depending on their circumstances. A person normally files under Chapter 13 to save their home or because they do not qualify to file under Chapter 7.
If you feel like you’re drowning in bills, late fees, and missed calls from creditors, you’ve come to the right site. A local bankruptcy attorney from Summit Bankruptcy Group can help you explore the different bankruptcy options available to you.
6900 S. 900 E. Suite 250, Midvale, Utah 84047
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Areas we serve: Midvale, UT, Orem, UT, and Aurora, CO