Chapter 13 Bankruptcy

When you file for Chapter 13 bankruptcy, part of the process is a debt repayment plan that is approved by a court judge. Typically this repayment plan has a length of three to five years. Once this plan is approved by a judge, any creditors that you have are bound to the repayment terms by court order.

By filing for a Chapter 13 bankruptcy, you gain more time to pay off your debts, and possibly a portion of these debts can be eliminated or discharged. If you have questions about Chapter 13 bankruptcy, contact the offices of attorney Theron D. Morrison in Ogden, Sandy, Logan, or Orem Utah.

Chapter 13 Bankruptcy vs. Chapter 7 Bankruptcy

During your initial free consultation, we will talk about the differences in Chapter 7 bankruptcy and Chapter 13 bankruptcy and help to decide which option is going to best suit your unique situation. Usually, individuals who file a Chapter 13 bankruptcy have one of these reasons for doing so:

They want to protect assets that they have from liquidation.
They want to stop a home foreclosure by using Chapter 13 bankruptcy.
They plan to repay their outstanding debts but need more time to do that.
They don’t meet the eligibility requirements for a Chapter 7 bankruptcy.

How Do I Use Chapter 13 Bankruptcy?

Once we’ve discussed your options with you and recommended Chapter 13 bankruptcy as your best option, the process gets started by filing on your behalf a Chapter 13 bankruptcy. The minute that you file for a Chapter 13 bankruptcy, most of your creditors are automatically barred from pursuing any further collection activity, which includes calls to harass you from collections, foreclosure of your home, repossession of your vehicle, garnishment of your wages, or any civil lawsuits.

We will help you look at your current financial situation and will work to design a three-year or a five-year debt repayment plan that will be submitted to a bankruptcy court on your behalf. We will also attend on your behalf any necessary court hearings, and will take care of any needed filings.

If the court does not initially approve your repayment plan, we can amend the plan and then resubmit it to the court. When your plan receives approval from the court, any creditors that you have are legally required to abide to the repayment terms. This plan for debt repayment allows you to repay your owed debts gradually, and can also allow for parts of this debt to be discharged.

Contact Us

If you’d like to speak with a bankruptcy lawyer, call (801)528-6759 or email us.

Chapter 13 Bankruptcy