Salt Lake City Bankruptcy Attorneys

Chapter 7 Bankruptcy in Salt Lake City, Provo & Ogden, Utah

If you are facing creditor harassment, threatening phone calls, property repossession, wage garnishment or other stressful situations because of overwhelming personal debt, Chapter 7 may be the right choice for you. But how do you know if this is really going to benefit you in the long run? By consulting a Salt Lake City bankruptcy attorney at the Stone Law Firm, you can find out what the consequences may be of filing for bankruptcy and how Chapter 7 in particular will affect you.

What Does Filing Chapter 7 Do?

Successfully filing a Chapter 7 bankruptcy petition will immediately stop all creditor collection efforts. Finally, you will be able to answer the phone without worrying that it’s another creditor wanting to talk about past due bills and late fees. Successfully completed, Chapter 7 bankruptcy will result in the discharge of all eligible debts. This means that you will be given the second chance you deserve.  Although Chapter 7 is often referred to as “liquidation” this does not necessarily mean that you will lose all of your property or assets. Certain property will be protected, and having a bankruptcy lawyer on your side will also mean that you will be given a better chance of keeping more of your property and assets – and discharging more of your debts.

Filing Chapter 7 and successfully completing the legal proceedings means that all debts listed on the creditor schedules will be discharged. Your bankruptcy trustee will gather and sell your nonexempt assets and property and then use the proceeds to pay creditors – based upon a predetermined seniority. Federal bankruptcy law and Utah Code allow a debtor to keep certain property, and the remaining property will be liquidated.

Contact a Salt Lake City Chapter 7 Lawyer

Contact the Stone Law Firm today to consult a Salt Lake City bankruptcy lawyer regarding filing Chapter 7. We will take the time to answer your questions and address your concerns so you can feel at ease with your choice in obtaining legal counsel and deciding whether to file Chapter 7.

For more information on filing Chapter 7 bankruptcy in Utah, contact a Salt Lake City bankruptcy attorney at our firm today!