Salt Lake City Bankruptcy Attorneys

Are There Alternatives to Chapter 7?

There are specific alternatives to Chapter 7 bankruptcy, and it is important that you understand these so you can make the right decision about whether to file. When you consult a Salt Lake City bankruptcy attorney at our firm, we will make an honest evaluation of your matter and will help you determine what the answer is for you and your unique goals. If it is more beneficial to you to explore an alternative to Chapter 7, so be it. Your attorney will help you determine what’s right.

Chapter 13 is often a helpful alternative to Chapter 7 bankruptcy. A particular advantage to Chapter 13 is that it allows individual debtors the opportunity to save their homes from foreclosure by offering them the option of catching up on past due payments through a payment plan that lasts a period of three to five years.

Additionally, you should be aware that out-of-court agreements with creditors as well as debt counseling services may provide an alternative to filing bankruptcy entirely.

Making the Right Choice – Working With a Lawyer

You should know that there are “debt counseling” companies and people out there who may seek to take advantage of you. For this reason, we do recommend that you consult a lawyer at our firm. Salt Lake City bankruptcy lawyer Edward Stone is highly trained in credit counseling as well as a bankruptcy lawyer, and this means that he understands what your options are and what the benefits may be to an alternative to Chapter 7. Most importantly, he has your best interests in mind and will help ensure that the advice he gives you is beneficial to your unique situation – rather than simply seeking bankruptcy as the one and only option.

Contact a Salt Lake City bankruptcy attorney at the Stone Law Firm today and discover what the possible alternatives to Chapter 7 may be.