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Utah Chapter 7 BANKRUPTCY
A Utah Chapter 7 bankruptcy is the most common form of bankruptcy. In our experience most people who are considering bankruptcy are hard working, honest, and good people. Most are considering bankruptcy as a result of overwhelming debts that were outside their control.
Chapter 7 is the form of bankruptcy that most people think of when they think of bankruptcy. In a Chapter 7 the debtor–the person who owes all the money–is discharged of his debts and is given a fresh start financially. In return, the debtor agrees to surrender any non-exempt asset to be liquidated on behalf of creditors. While Chapter 7 is not a free pass in all situations, in most cases the debtor retains his property because their property is exempt.
Chapter 7 bankruptcy is ideal for people who:
- Is facing a garnishment
- Unexpected medical bills
- Can’t pay loans when they come due
- Is borrowing more money to pay monthly loans
- Have a payday loan
Do you need to file Chapter 7 bankruptcy in Utah fast to stop a garnishment, repossession or foreclosure, but can’t afford the attorney’s fee upfront? We have solved your problem!
Get your case filed for $200 Down*.
That’s Right! We will file your emergency case for only $200 upfront. After the case has been filed and the court fees paid, we will setup an affordable payment over time to finish your case.
Finally an affordable way to file bankruptcy!
I like these guys, they worked as a team to get my lawsuit resolved. As far as my divorce and child custody case, they know their stuff. I really wanted to settle quickly. It wasn’t as fast as I wanted, but it got done and I am so much happier for it.
Mike Anderson and Greg Lyle have really helped me with a real estate quiet title action. These guys know real estate law. If you are in South Jordan – you should see them for real estate litigation.
I want to thank you for assisting me through this difficult times of going through bankruptcy. I was at the hearing today. Mr. Weekes was there for me. I was scared, but he re-assured me. It went on smoothly. There was a time I became emotional, and started to sob quietly, and looked sad. I want to thank you again kindly.
[Ascent] Law was professional, helpful, and easy to work with. They kept us informed on what was going on and helped us to make sure we understood what was being done and what was expected of us. We were glad we chose them!
[Russell Weekes] helped me through my bankruptcy I was so nervous about my situation they were so great in answering all my questions. I recommend them to anyone they are fast and a professional team who care about there clients and what they are going through.
Russell and his team made my situation nothing short of amazing for the situation I was in. All of my questions were always answered and I never was made to feel as if I was dumb to have gotten in the financial situation that I did. I have already referred a friend and would refer any family and friends to him and his team.
I had a great experience. The people were friendly and helpful. They went above and beyond to help me.
Great service. I appreciate their kindness and making me feel at ease.
I highly recommend [Russell Weekes]. Filing Bankruptcy isn’t fun for anyone, and these guys were there for me every step of the way. I always got quick responses, they answered every question and put me at ease. I am extremely happy I chose them!
Everybody should go to [Ascent} should they have any bankruptcy matters at hand. They’re 100% legit, intelligent and friendly. They will do whatever it takes to see that your case is successfully discharged! They stay on top of it 100% of the way even if you get too caught up with lifes hurdles, they’re behind the scenes still steady at work for YOU!! (Their 1st priority). I fully recommend and support [Ascent] Law!!!
I’m filing for bankruptcy right now and they have been great so far answering my questions and everything.
[Ascent] Law helped me out during a tough time. They took care of everything and were super friendly.
If you’ve gotta go through the mess of financial bankruptcy, these guys are the best. My attorney as well as all of the paralegals and staff made going through hell much easier than I could have ever asked. Any questions I had they responded to immediately. They were always timely and gave me great legal advise. They aren’t the cheapest option, but the payment plans provided were unbeatable.
Great service. They answered all of my questions and made me free comfortable. The staff and attorneys are knowledgeable.
Wonderful Attorney in Michael Anderson. Just what we were looking for in a Family Trust. Very knowledgeable, trustworthy, dependable, smart and kind. Recommend him or this law firm to everyone.
My experience was unlike all of the stories one hears of attorneys. Mike and his team were absolutely spot on with their communication, follow-up, understanding and ultimately the results. They were aware of my budget and worked hard to keep me there.
I am truly appreciative of there complete caring and handling of my situation.
There is an income test called the Means Test that determines whether you qualify filing a Chapter 7 bankruptcy. In a Chapter 7 it does not matter how much debt you owe. Your gross household income is compared to the median income for a household of your size. If your income is equal to or less than the median income for the household size, then you can file Chapter 7. If your income exceeds the median income, then your expenses are considered. The best way for you to determine if you qualify for a Chapter 7 is for you to schedule a consultation with an experienced bankruptcy attorney.
There are some debts that are not forgiven or discharged in bankruptcy. Such non-dischargeable debts are things like child support, alimony, student loans, and any debt that you owe for like a crime that you may have committed. So for example, if you have a traffic ticket or were convicted of a crime and the a court awarded restitution, those will not be discharged. Those are the most common non-dischargeable debts. Other debts like medical bills, payday loans, credit cards, unpaid leases, etc., are dischargeable.
Some taxes are discharged in a Chapter 7 case. The tax has to be a personal income tax, so like reported on a 1040 return. It has to be more than three years old, was assessed more than 240 days before he date of filing bankruptcy.
The general rule of thumb is if your tax debt is four years old and you timely filed your tax return, then the tax is likely dischargeable. The best way to determine whether your tax debt is dischargeable is for you to schedule a consultation.
In Utah, there exemptions that allow you to keep certain property in bankruptcy. In some cases the asset is fully exempt regardless of its value, in other cases only a certain amount of equity in the property is exempt. Common examples of fully exempt assets include your clothes, beds and bedding, one of each of the major appliances, kitchen tables and chairs, and food and emergency supplies.
Examples of assets that are exempt, but are limited to a dollar value include automobiles, homes, and household furniture. You can review Utah’s exemptions at Title 78B-5-5.