Dedicated Bankruptcy Lawyer Helping Salt Lake City Clients in Need

Man contemplating bankruptcySimply thinking about filing for bankruptcy can trigger an array of emotions and concerns. These feelings are completely understandable, however, it is important to remember that bankruptcy is often the quickest, most affordable, and straightforward way to get debt relief. In most bankruptcy proceedings, you will receive protection from wage garnishment, foreclosure, creditor harassment, repossessions, and utility shutoffs. There is much to consider and discuss with your family before choosing bankruptcy, so it’s important to discuss your circumstances with a qualified Utah bankruptcy attorney first before making any decisions. Whatever you decide, the skilled attorneys at The Law Firm of Peter & Paul are here to help.

Chapter 7 Bankruptcy

Often referred to as liquidation or “straight” bankruptcy, filing for Chapter 7 bankruptcy allows individuals to turn over property and dispose of debt. Creditors must also cease any and all practices intended to harass and intimidate debtors as soon as a Chapter 7 case is filed with the court. During this process, you may still maintain ownership of any property that has little monetary value. Federal bankruptcy laws allow individuals to receive a discharge of most unsecured debt, including outstanding credit card balances, medical bills, and a variety of business-related debts. It is important to keep in mind, however, that some debts are nondischargeable. We will work with you to develop an affordable payment plan if you are unable to pay the upfront fees associated with this filing.

Chapter 11 Bankruptcy

Filing a Chapter 11 bankruptcy case as an individual is much like one for a corporation. A petition and schedules are filed with the court and creditors are required to end all collection practices against you immediately. You and your bankruptcy attorney must then meet with a representative of The United States Trustee to review the rules by which you are bound during the length of the Chapter 11 proceeding. Among other things, these guidelines often require that you maintain insurance on any properties, open new bank accounts, and file monthly reports displaying all income and expenses.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy covers nearly every form of debt, from outstanding credit card balances to medical bills and personal loans. During Chapter 13 bankruptcy proceedings, your debts are organized into a single repayment plan and any payments made are applied in a manner determined in the Chapter 13 plan. Assuming you adhere to the plan for three to five years without suffering any setbacks or complications, your remaining unsecured debts will be discharged upon completion of your repayment plan.

You are Not Alone — Get the Help You Need

We know that financial stress and bankruptcy can cause anxiety and worry, which is why we strive to not only handle the legal aspects of your case, but also provide the emotional support you deserve. We are known for our compassionate approach and tireless attention to detail and would be honored to extend our services to you and your family.

If you’re currently considering filing for a chapter 7, chapter 11 or chapter 13 bankruptcy, contact The Law Firm of Peter & Paul today at (801) 359-1313 to schedule your free consultation. We have helped many Salt Lake City clients find their way back to financial solvency and can do the same for you.