The state of Utah has several local bankruptcy laws that apply to the 5 types of bankruptcy: Chapter 7, 9, 11, 12 and 13. The most commonly utilized laws are for the first and last. These local bankruptcy laws are governed by the US Bankruptcy code and the US Bankruptcy Court for the District of Utah. As they could be rather technical, you might need the help of a capable Utah bankruptcy attorney to understand them.
Utah law permits exemptions in a bankruptcy, so you don’t really lose everything. In general, properties used as a primary residence may not be taken from you in a bankruptcy case. Other exemptions include alimony and child support, as well as the vehicle you use to get to work. Knowing these gives you peace of mind because you can still attend to your responsibilities.
Debtors are required to participate in a credit counseling program before they file for bankruptcy. You may find a list of approved credit counseling agencies from the Utah Bankruptcy Court. Consult your attorney on how to contact these agencies; or ask the Utah Bankruptcy Court Trustee’s office about them.
Know under what type of bankruptcy to file
File for a Chapter 7 if you have a few properties and have no money left after basic monthly expenses. Under this type, most unsecured debt – those unattached to any properties such as credit cards and loans – are eliminated. File for a Chapter 13 if you have a lot of properties you wish to keep and can meet basic monthly expenses, but not payment schedules of your debt. Under this type, you, the debtor, are given a payment schedule to follow for 3 – 5 years. If you’re still having difficulty deciding which to file under, contact a capable Utah bankruptcy attorney now.
You won’t have trouble finding good bankruptcy lawyers in Utah. Don’t shy away from asking them how much your case will cost, how they charge, and the mode of payment they prefer. Some are even willing to accept installment payments.
A good lawyer is an absolute necessity when filing for bankruptcy. He can guide you through the entire process and explain things to you in a way that you can better understand. One good law firm that may help you with your plight is Lewis Adams & Associates.