Chapter 7 is the most common form of bankruptcy in Utah and is certainly the quickest form of bankruptcy relief available today. Otherwise known as "debt elimination" bankruptcy, it provides debtors with a fresh start quickly so that they can move on with their lives and progress toward a brighter future. A Chapter 7 case generally lasts approximately 4-5 months.
Most debtors in Chapter 7 bankruptcy in Utah keep all of their property and eliminate all of their debt. Our office files mostly Chapter 7 bankruptcy cases. Chapter 7 is generally the most advantageous form of bankruptcy relief.
Once a debtor files bankruptcy, creditor action is stopped. Many people enter bankruptcy protection in order to stop garnishments or other harmful collection activities from occurring.
To qualify for a Chapter 7 bankruptcy discharge, one must not have received another Chapter 7 discharge during the previous 8 years. Another eligibility requirement is the "means test." The means test has two parts: the look-back test, and the look-forward test. The look-back test dictates that the debtor's gross monthly average household income received from all sources during the six full months prior to the debtor's case filing must be below the Utah monthly median income for families of the debtor's size. The look-forward test mandates that the debtor's gross monthly average household income within approximately two months prior to filing and approximately two months after filing cannot exceed the monthly median income here in Utah for families of the debtor's size. To see the current median income in Utah for your family size, click here.
Another factor affecting whether a debtor will wish to file a Chapter 7 liquidation bankruptcy is the amount of equity in the debtor's home and the amount of equity in and number of vehicles a debtor has.
You are not facing bankruptcy alone. We are here to help you every step of the way in order to make the process as easy for you as possible. If you would like a free evaluation of your situation or case, contact our law offices at (801) 850-8125 to schedule an appointment with experienced Utah bankruptcy lawyer Laura Ferrin.
Call Our Offices Today for Your Free Consultation: (801) 850-8125
Salt Lake County Location (Main Office):
The Law Offices of Laura Ferrin
A Professional Law Corporation
9130 S. State Street
Salt Lake City, Utah 84070-2645
Utah County Location:
The Law Offices of Laura Ferrin
A Professional Law Corporation
2975 Executive Parkway
Lehi, Utah 84043
The Salt Lake City, Utah, based Law Offices of Laura Ferrin, A Professional Law Corporation, provides comprehensive debt relief services to clients throughout the counties of Salt Lake, Summit, Tooele, Utah, Davis, Weber, Box Elder, Daggett, Cache, Morgan, Rich, Carbon, Duchesne, Emery, Grand, Juab, Millard, San Juan, Sanpete, Sevier, Uintah, Wasatch, including the communities of Salt Lake City, Murray, Sandy, Draper, Riverton, Midvale, Cottonwood Heights, West Jordan, South Jordan, Holladay, West Valley City, Taylorsville, Bountiful, North Salt Lake, Farmington, Layton, Kaysville, Clearfield, Syracuse, Roy, Ogden, Park City, Provo, Orem, Lehi, Spanish Fork, Mapleton, and American Fork.
We are a Utah debt relief agency. We help people file for bankruptcy protection under federal bankruptcy laws.
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