Frequently Asked Questions

What are the advantages and disadvantages of filing for bankruptcy?

Some advantages:

  • Stops the harassment of creditors
  • Stops foreclosures, repossessions and garnishments
  • Wipes out most outstanding debt
  • Consolidation of bills into an affordable monthly payment
  • Makes it possible for a person to rebuild their credit rating

Some disadvantages:

  • A bankruptcy stays on your credit report for up to 10 years.
  • In a Chapter 7 bankruptcy, you may lose assets such as bank accounts, stocks, vehicles that are free of a lien and even your home if you have significant equity.
  • In a Chapter 13 bankruptcy, you must obtain court approval to buy a car or buy, sell or refinance a home. As long as the proposed transaction makes sense and does not harm creditors, the court should grant its approval.

What is a Chapter 7 bankruptcy?

A Chapter 7 bankruptcy eliminates your debts, which allows you to make a fresh start. It is also an asset liquidation, which means that nonexempt property (property that is not protected by law) is sold by a trustee, and the proceeds are paid to your creditors. Because most of your property is exempt, in most cases no property is lost. If you might lose property, a Chapter 13 will probably be the better case to file. During the free initial consultation with an attorney, we will analyze your situation so you know which type of case to file.

What is a Chapter 13 bankruptcy?

Filing a Chapter 13 bankruptcy case allows you to consolidate your debts into one monthly plan payment. A Chapter 13 case stops foreclosure sales immediately and protects your property. The typical case lasts from three to five years.

If I think bankruptcy may be my best option to obtain debt relief, how do I make an appointment to meet with an attorney?

Please call 801-471-0555 or contact us online to speak with an attorney and schedule an appointment.

How much does it cost to meet with an attorney the first time?

Your first meeting with an attorney is a no-charge, no-obligation consultation. You don't pay any fees unless you decide to file a case. You are not obligated to file a bankruptcy case just because you meet with an attorney. The first meeting with an attorney is a consultation. The attorney will discuss your options and make recommendations; you make the decision whether or not to file.

What are the court costs to file bankruptcy?

The court's filing fee for a Chapter 7 bankruptcy is $306. The filing fee for a Chapter 13 bankruptcy is $281. You will also need approximately $50 to complete the pre-bankruptcy credit counseling requirement.

How much are attorneys fees to file bankruptcy?

Chapter 7 attorney's fees range from $875 to $1,000 in most cases. The amount of the fees depends on the complexity of the case.

A Chapter 13 case is more complicated and requires much more of the attorney's time. The fees are higher but are consolidated into the monthly plan payment along with your debts.

What do I need to bring with me to my first meeting with an attorney?

When you speak with one of our attorneys by telephone prior to the meeting, he will tell you. It helps if you complete our online bankruptcy questionnaire prior to the meeting. Having that information at his fingertips will help him make helpful recommendations to you.

How long does a bankruptcy stay on my credit report?

A bankruptcy case may stay on your credit report for up to 10 years.

How long does it take to complete bankruptcy?

It usually takes from three to four months to complete a Chapter 7 bankruptcy. A Chapter 13 bankruptcy takes from three to five years.

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