Understanding Bankruptcy Options in Salt Lake City
In the United States, bankruptcy law is almost as old as the Constitution. Fortunately, it has changed over the years to become more debtor-friendly.
Today, there are two main types of bankruptcy for which individuals can file:
- Chapter 7 Bankruptcy: A Chapter 7 bankruptcy is completed by liquidating property and assets to pay off debts, then wiping out the rest. This does not necessarily mean that you will lose your home or car. Those who seek debt relief under Chapter 7 are often able to get a fresh start in just a matter of months.
- Chapter 13 Bankruptcy: A Chapter 13 bankruptcy does not immediately wipe out debt. Rather, debts are reorganized into a repayment plan. You won’t have to worry about losing your home, your car, or any personal belongings as long as you stick to your repayment plan. Further, you may end up paying less than what you would have outside of a bankruptcy.
What Bankruptcy Can (and Cannot) Achieve for Salt Lake City Residents
Bankruptcy may allow you to catch up on missed payments, save your home and car, put a stop to creditor harassment, and stabilize your finances. What debt is discharged and what isn’t will depend on your financial situation and the type of bankruptcy you are filing for.
In general, bankruptcy can clear the following unsecured debts:
- Overdue utility bills
- Medical debt
- Credit card debt
- Personal loans
Mortgages, auto loans, and other secured debts often qualify for reorganization.
How Watton Law Group Helps Salt Lake City Residents Achieve a Fresh Financial Start
Our Salt Lake City bankruptcy law firm is proud to help our clients with all types of debt relief, including but not limited to:
- Chapter 7 bankruptcy
- Chapter 13 bankruptcy
- Protection from creditors and debt collectors
- Stopping home foreclosure
- Stopping credit card interest
- Preventing property/vehicle repossession
- Financial planning/budgeting
Schedule Your Free Bankruptcy Consultation With Our Salt Lake City Office Today
We offer free bankruptcy consultations to all prospective clients at no cost and with no obligation to move forward. It is our goal to give you the information you need to make a well-informed decision about your financial situation. That’s why we are happy to discuss your rights, options, and the specifics of your case in a confidential consultation, either over the phone or in person.










































