Chapter 7 Bankruptcy
Chapter 7 bankruptcy is what most people imagine when they think of the bankruptcy process. A Chapter 7 bankruptcy involves a debt liquidation process that completely eliminates most types of consumer debt.
Chapter 7 bankruptcy has been filed by millions of people, and can do the following:
- Significantly reduce or even eliminate debt burden
- Stop harassment by creditors
- Eliminate debts from medical bills or credit cards
- Stop the repossession of a vehicle
- Stop wage garnishment
Schedule a free consultation with The Law Offices of Theron D. Morrison to see if bankruptcy is the right option for your situation. Schedule an appointment at one of our office locations in Ogden, Sandy, Orem, or Logan by calling 801-528-4883.
Chapter 7 Bankruptcy Process
The first step of a Chapter 7 bankruptcy is to determine eligibility by using an economic means test which factors in your total income and debt load. Most of the individuals who contact us for bankruptcy services are eligible to file for Chapter 7 bankruptcy, but filing for Chapter 13 bankruptcy is another alternative if you don’t qualify for a Chapter 7 bankruptcy.
Once you’ve determined your eligibility and have decided to file a Chapter 7 bankruptcy, you’ll find that the process doesn’t take very long. Most Chapter 7 bankruptcies are finished within a few months.
The moment that bankruptcy is filed in your behalf, any further collection efforts are immediately halted, bringing to an end the bothersome calls from different debt collection agencies.
When you file for Chapter 7 bankruptcy, you can completely discharge most types of debt, including unsecure debt such as medical bills or credit card bills. Through bankruptcy exemptions and also debt reaffirmations, there is a surprising amount of property that you may be able to retain, including but not limited to your cars and your home.
Learn More
Because of all of the misconceptions about bankruptcy, many people experience an unnecessarily high level of anxiety about the process. To answer any questions that you have or learn more about the bankruptcy process, check out our frequently asked questions page and bankruptcy myths page.
Contact Us
To talk with an attorney about your bankruptcy needs, call us at (801)528-6759 or contact us through email.