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Bankruptcy Lawyer in South Jordan UT

Feb 27

Bankruptcy Lawyer in South Jordan UT


Bankruptcy Lawyer in Sandy UT

Utah Bankruptcy Attorneys

If you're looking for a bankruptcy lawyer in South Jordan UT, you've come to the right place. Our neighborhood bankruptcy law firm, Utah bankruptcy, chapter 7 and chapter 13 cases, has been providing high quality services to clients for over 20 years. We specialize in designing the best bankruptcy case for you and putting you first to get in front of your debt and financial problems.  There are 8 attorneys at the law office and Ryan E. Simpson been a bankruptcy lawyer for years, doing literally hundreds and hundreds of bankruptcy cases in Utah. 

 

Bankruptcy Law Firm South Jordan UT
Call to get a free consultation today (801) 676-5506

Chapter 7

Chapter 7 bankruptcy is considered the “liquidation” form. This is a true “wipe the slate clean” type of thing a debtor filing for Chapter 7 is starting over entirely. A trustee is appointed to assist with the sale of assets – this doesn’t necessarily have to be all of a given debtor’s assets, but it’s often most of them. Once these have been liquidated, the trustee pays creditors a percentage of the proceeds. Certain other debts are forgiven, or discharged – debts which cannot be discharged generally include student loans, alimony or child support taxes. If you’ve filed for Chapter 7 bankruptcy, you won’t be eligible to file again for another seven years.

Chapter 13

Chapter 13 bankruptcy works slightly differently, allowing you to keep your property in exchange for partially or completely repaying your debt. The bankruptcy court and your attorney will negotiate a three- to five-year repayment plan. Depending on what's negotiated, you may agree to repay all or part of your debt during that time period. When you've completed the agreed repayment plan, your debt is discharged, even if you only repaid part of the amount you originally owed. While any type of bankruptcy negatively affects your credit, a Chapter 13 may be a more favorable option. Because you repay some (or all) of your debt, you may be able to retain some assets. What's more, a Chapter 13 bankruptcy will cycle off your credit report after seven years, and you could file again under this chapter in as little as two years. A chapter 13 bankruptcy is also called a wage earners plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years. If the debtor's current monthly income is less than the applicable state median, the plan will be for three years unless the court approves a longer period "for cause." If the debtor's current monthly income is greater than the applicable state median, the plan generally must be for five years. In no case may a plan provide for payments over a period longer than five years.

Stop Wage Garnishment


If you owe debts you can't repay, you are probably facing debt collection efforts from creditors. You may be the target of phone calls and letters from collection agencies, or even lawsuits filed by creditors to whom you owe money. Of all the consequences of owing money, however, one of the most significant is wage garnishment: a court order that directs your employer to take money right out of your paycheck and send it to a creditor. For those who are struggling to get by, wage garnishments lead to deeper financial problems. In fact, a wage garnishment can be the final straw that pushes a debtor into bankruptcy. Once a debtor files for bankruptcy, however, there's some good news: A legal protection called the automatic stay goes into effect immediately, which stops most wage garnishments and prevents creditors from seeking new garnishments while the bankruptcy case is proceeding. A wage garnishment is a court order requiring an employer to withhold a set amount of an employee's pay and send it to the person or institution named in the order. Garnishments for certain types of debts are issued automatically. For example, since 1988, all child support orders include an automatic wage withholding order. If you owe back taxes, the IRS can garnish your wages. Student loan defaults may also result in a wage garnishment by the Department of Education or any agency trying to collect the loan on its behalf. Unless you owe child support, back taxes, or defaulted student loans, however, a creditor must file and win a lawsuit against you and get a court order requiring you to pay the debt. With this court order in hand, the creditor can seek a wage garnishment. There are legal limits on how much of an employee's wages may be taken to satisfy particular debts. For court judgments, the maximum is 25% of the employee's disposable earnings (this is the federal limit; some states set a lower percentage). 

Stop Creditor Harrassment

Bankruptcy may make it possible for you a fresh financial start - stop foreclosure on your house or mobile home and allow you an opportunity to catch up on missed payments. (Bankruptcy does not, however, automatically eliminate mortgages and other liens on your property without payment. Prevent repossession of a car or other property, or force the creditor to return property even after it has been repossessed. Stop creditor harrassment, debt collection harassment, and similar creditor actions to collect a debt. Restore or prevent termination of utility service and allow you to challenge the claims of creditors who have committed fraud or who are otherwise trying to collect more than you really owe.

Bankruptcy Lawyers Trusted by Utah Residents

We offer high-quality legal services along with bankruptcy, divorce, family law, and estate planning services at affordable prices in South Jordan UT. At no cost our professionals will provide an extensive breakdown of the cost, services required, estimated time to complete, and a legal consultation over the phone. We're also upfront about expenses and will provide an estimate before you start. This lets you relax and won't give you any unexpected costs.

We make your satisfaction our top priority, so we will not stop until the bankruptcy is completed and we do all we can do for you.

Stop Foreclosure

Why Choose Us for Bankruptcy?

We've been offering top-quality bankruptcy services in South Jordan UT for over 20 years. We utilize the finest quality services and legal guidance and top notch services to protect our clients.

New clients receive a 100% free bankruptcy consultation. In order to ensure your success our bankruptcy attornesy will be working with you side-by-side.

Enjoy a bankruptcy service that will meet your expectations with hassle-free payment plans and a lower cost if you pay all upfront!

Get A Free Bankruptcy Consultation Today

You can get a complimentary bankruptcy consultation today if you're curious about cost, time frame, or any other aspect of a chapter 7 or a chapter 13 bankruptcy process. The professionals will review your case, make sure you qualify, and provide precise feedback regarding the best way to proceed.

 

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah 84088 United States
Telephone: (801) 676-5506
https://www.ascentlawfirm.com

South Jordan Utah Bankruptcy Lawyer

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