Utah Bankruptcy Laws

Locate a Utah Bankruptcy Attorney

If you are a Utah resident and are pondering filing bankruptcy a Utah bankruptcy attorney will review all of your options with you.

Grasp, with the help of a Utah bankruptcy attorney, whether filing Chapter 7 or Chapter 13 bankruptcy is the right path for you.

For an interview with a local Utah bankruptcy attorney simply fill out the form on this page.

Bankruptcy Law and Utah Exemptions

In your initial interview with your Utah bankruptcy attorney you will go over all of the main differences from Chapter 7 and Chapter 13 bankruptcy.

In this interview your Utah bankruptcy attorney will ask you many personal finance questions or provide you with a profile sheet to list certain financial details. The answers you give will help you and your attorney in deciding if filing Chapter 7 or Chapter 13 bankruptcy is the appropriate step for you.

Chapter 7 bankruptcy is also referred to as liquidation as the bankruptcy trustee may choose to sell or auction non-exempted property (see State Exemptions list below).

Yet, in most of Chapter 7 bankruptcy cases, the person filing bankruptcy does not own non-exempt property, so this would not apply to most filings. If you do not own much property or have many assets Chapter 7 bankruptcy may be the best choice, since you are allowed to discharge most unsecured debt.

Before filing Chapter 7 bankruptcy please go over your finances with a Utah bankruptcy attorney to figure out exactly how much property may be exempt from liquidation.

Utah State Exemptions

Homestead

1. Primary residence worth up to $40,000 for a family.
2. Primary residence worth up to $20,000 for a single adult.
3. Non-primary residence worth up to $5,000 if owned by a single adult, $10,000 for a joint-owned property.

Wages

75 percent of your earnings.

Automobiles

A vehicle worth up to $2,500.

Personal Property

1. Up to $500 of household furnishings.
2. Burial plot.
3. All healthy aids.
4. A washer and dryer.
5. A refrigerator, freezer, stove and microwave oven.
6. Sewing machine.
7. Carpeting.
8. Clothing, beds and bedding.
9. $3,500 worth of implements, books and trade tools.

Chapter 13 Bankruptcy is also called “reorganization”. Those filing Chapter 13 may own more property and by filing Chapter 13 may also keep most of their assets.

In Chapter 13 bankruptcy, the debtor prepares a proposal for a repayment plan for a term of 3 to 5 years, which must be approved by a bankruptcy court. This agreement allows the filer to repay outstanding bills.

Speak With a Utah Bankruptcy Attorney Today

Have you ever given thought to filing bankruptcy in Utah but have not because you did not know where to start or felt the process was too complex for you?

To ease all anxiety about bankruptcy laws, a Utah bankruptcy attorney will be able to help you through the bankruptcy process in common sense terms. When you visit with a Utah bankruptcy attorney you will also be able to have many of your questions and concerns answered in the first consultation.

Take the aggravation out of finding a Utah bankruptcy attorney your self. Just fill out our bankruptcy questionnaire on this page and we will direct you to a Utah bankruptcy attorney in your area.

Note: This is not legal advice. All bankruptcy laws in any state need the consult of a bankruptcy attorney licensed in that state. Consult a local attorney if you are seeking legal advice. Some or all bankruptcy laws may have changed.

Utah Bankruptcy Attorneys are available in the following areas:

ALPINE, AMERICAN EXPRESS CO, AMERICAN FORK, BEAR RIVER CITY, BENEFICIAL LIFE INSURANCE, BINGHAM CANYON, BOUNTIFUL, BRIGHAM CITY, CACHE JUNCTION, CEDAR VALLEY, CENTERVILLE, CHURCH OF JESUS CHRIST/LDS, CLARKSTON, CLEARFIELD, COALVILLE, COLLINSTON, CORINNE, CORNISH, COTTONWD HGTS, CROYDON, DEFENSE DEPOT OGDEN, DEWEYVILLE, DRAPER, DUGWAY, EAGLE MOUNTAIN, ECHO, EDEN, ELBERTA, FARMINGTON, FAUST, FIELDING, FIRST SECURITY BANK, GARLAND, GOSHEN, GRANTSVILLE, GROUSE CREEK, HENEFER, HERRIMAN, HILL AFB, HONEYVILLE, HOOPER, HOWELL, HUNTSVILLE, HYDE PARK, HYRUM, IBAPAH, KAMAS, KAYSVILLE, KEY BANK, LAYTON, LDS HOSPITAL, LEHI, LEWISTON, LINDON, LOGAN, MAGNA, MANTUA, MAPLETON, MENDON, MIDVALE, MILLVILLE, MORGAN, MURRAY, NEWTON, NORTH SALT LAKE, OAKLEY, OGDEN, OREM, PARADISE, PARK CITY, PARK VALLEY, PAYSON, PEOA, PLEASANT GROVE, PLYMOUTH, PORTAGE, PROVIDENCE, PROVO, QUESTAR GAS COMPANY, RICHMOND, RIVERSIDE, RIVERTON, ROY, RUSH VALLEY, S SALT LAKE, SALEM, SALT LAKE CITY, SALT LAKE CITY, SALT LAKE CTY, SANDY, SANTAQUIN, SMITHFIELD, SNOWVILLE, SOUTH JORDAN, SPANISH FORK, SPRINGVILLE, STOCKTON, SYRACUSE, TOOELE, TREMONTON, TRENTON, W JORDAN, WELLSVILLE, WENDOVER, WEST JORDAN, WILLARD, WOODS CROSS

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