Utah Chapter 7 Bankruptcy Help
Who Should File Utah Chapter 7 Bankruptcy?
Utah Chapter 7 bankruptcy is the most commonly filed form of bankruptcy. Most people decide to file this type of bankruptcy because it works best with their situation. While Utah Chapter 7 is most commonly declared, there are some individuals who do not file this type of bankruptcy because it does not work with their situation.
The people who file Utah Chapter 7 bankruptcy are people who have fallen into financial distress and have no way of recovering without the help of the courts. These individuals have often found themselves in over whelming debt from medical bills, car accident claims, credit card debt, loss of a job, etc. Utah Chapter 7 bankruptcy is a good choice for these people because it will help them get out of this over whelming debt.
Utah Chapter 7 Basics
Utah Chapter 7 bankruptcy works best with people who do not have many non-exempt assets. The court will take any non-exempt assets when a person files Chapter 7. The court sells the assets that they took and the proceeds are divided between the debtor’s creditors.
The court will then give the debtor a discharge of his or her remaining unsecured debts. Most of our clients receive a discharge of their debts while retaining the majority of their property when they file Utah Chapter 7 bankruptcy. Our lawyers have years of experience with this type of bankruptcy and can help you know what to expect.