No one wants to have to file bankruptcy. The fact is that life is unpredictable and sometimes we are required to adjust to circumstances presented. Your financial and bankruptcy concerns are as important to me as they are to you.
It’s very important that you consult with a dedicated, experienced, and compassionate attorney like me before making this important decision. You need an attorney who looks out for your best interests and who is not afraid to recommend not filing and/or non-bankruptcy options. For most, bankruptcy can be the beginning of a fresh start and a new beginning. I can help you stop garnishments, foreclosures, harassing phone calls, and collection lawsuits. I have the knowledge and experience to create your financial recovery under federal bankruptcy law.
A Chapter 7 bankruptcy allows you to discharge most unsecured debts (credit cards, medical debts, unsecured lines of credit, personal loans, collection accounts, etc.). The moment that a Chapter 7 bankruptcy is filed a legal stay goes into effect. This automatic stay immediately prevents creditors from taking any collection action against you.
A Chapter 13 bankruptcy is typically utilized when you cannot qualify for a Chapter 7. This usually occurs when your annualized income is above the current median income level for your family size. Unlike a Chapter 7 case, which usually lasts 120 days and does not require any repayment to the trustee, a Chapter 13 case will have monthly payments that need to be made to the trustee for a period of time between 36 and 60 months.
If bankruptcy is not the right option for you, it is often possible to persuade a creditor to lower a debt by anywhere from 25% to 80%, and accept reduced monthly payments or a lump sum payment. The critical component of this process is using a reputable and experienced attorney who knows how to convince the creditor that no recovery would otherwise occur.
United States Bankruptcy Court – District of Utah
U.S. Trustee Program