subject: Utah Debt Settlement - Eradicate Your Debt And Get A Fresh Start By Filing For Bankruptcy [print this page] Salt lake law firm: Do you seem to be drowning in debt? If you are paying only the minimum amounts due on your bills, cant budget yourself out of debt, are receiving foreclosures on your loans, or have suffered a severe financial setback then you may want to consider bankruptcy. There is nothing to be ashamed of when you consider filing for bankruptcy. Bankruptcy should be viewed as a fresh start, a way to revive your financial situation and start over again. When money is tight and your household is experiencing a crisis, sometimes your best option is to consult with an attorney to learn more about your options and possibility of filing for bankruptcy.
Chapter 7:
A Chapter 7 bankruptcy or a straight bankruptcy will wipe out the majority of outstanding debts except for debts such as child support or recent back taxes. This is the most commonly filed form of bankruptcy and the bankruptcy type most commonly discussed or referenced. It is typically the easiest and quickest form of filing. If you are an individual, married couple, corporation or partnership then you may be eligible to file Chapter 7. There are certain income qualifications you must meet to file a chapter 7 bankruptcy and we can help you determine qualification. This type of filing will allow you to make a fresh start on your financial matters
Chapter 13:
Chapter 13 bankruptcy is a bankruptcy where we reorganize the repayment of your debts over several years. The repayment plan is called the chapter 13 plan and takes into consideration your monthly budget to determine an affordable monthly payment. You make one payment each month based on your ability to pay, not based on the amount of debt you have. At the end of the plan term unsecured debts that have not been fully repaid through the chapter 13 plan will be eliminated. This can be used for people who can afford to pay their creditors something each month, even if it is not the full amount. This can be very important for individuals who have steady income but cannot cope with aggressive collection practices of a creditor.
Filing a bankruptcy is an extremely personal and sometimes emotional process. It is important that you should find an attorney who is compassionate, as well as competent. You need to feel comfortable with with your attorney and confident your attorney cares about you and your financial problems. The Bankruptcy Professionals at CC Brown Law are always focus their individual practices in different areas of law related to financial matters. We work as a team to provide our clients with well-rounded representation. This is important because bankruptcy cases often have elements of different areas of law. Contact the Bankruptcy Professionals of CC Brown Law at 801-265-8500, or click here to decide whether or not bankruptcy is the correct course of action for you.
