Get A Fresh Start By Filing For Chapter 7 Bankruptcy

It's not easy to live with unsustainable debt. Your personal finances are complex and unique, so the best way to manage your debt is identify the options that best fit your particular circumstances. If you are considering filing for bankruptcy, it's important to understand the potential advantages and disadvantages of both Chapter 7 and Chapter 13 bankruptcy. Jeffrey H. Hagen PC has a thorough knowledge of Utah bankruptcy law, and will work closely with you to select and execute the plan that makes the most sense in your case.

Chapter 7 bankruptcy is simpler and faster filing under Chapter 13, but it is only available to those under a certain income level. Chapter 7 is sometimes known as "total bankruptcy" because it can discharge all of your debts, meaning you no longer have a legal obligation to pay them; you will also be protected from wage garnishments and other attempts at collection made by creditors.

Most of your assets are considered exempt under a Chapter 7 filing, which means they are protected by law. But if you have any valuable, unprotected assets such as a home or a car, it is possible that these assets will be taken and subjected to liquidation in order to pay off unprotected debt to your creditors. By working with an experienced bankruptcy lawyer, though, you minimize the impact of a Chapter 7 filing on your assets. In many cases, those filing for bankruptcy do not have to lose any property at all.

Navigate Your Bankruptcy Filing One Step At A Time

The first step in getting a handle on unsustainable debt is to meet with a skilled attorney and assess your options. With this information, you can decide if filing for bankruptcy makes sense in your case.

Meanwhile, it can also be valuable to take a credit counseling course from an accredited agency. This will help you understand past missteps and how to avoid them in the future. Our firm can help you find such a course.

After your case has been initiated, you will need to attend a meeting with the bankruptcy trustee assigned to your case, which usually occurs about one month after the case is filed. You'll also need to take a financial management course before the discharge of debt can be granted by a bankruptcy court.

Get Debt Relief Quickly — Speak With An Attorney Today

To learn more about how Jeffrey H. Hagen PC can help you take action to improve your financial health, schedule a free initial consultation in our Salt Lake City office by calling 801-471-0555 today. You can also send us an email.

English and Spanish are spoken at our law office.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.