Utah Bankruptcy Firm
At the law office of Theron D. Morrison, most of our time and resources are dedicated to providing debt relief through Utah bankruptcy for thousands of people who are struggling under an unmanageable load of debt. After helping so many clients relieve their burdens of stress through chapter 7 bankruptcy and chapter 13 bankruptcy we have gained a reputation of success and outstanding service as bankruptcy lawyers in Utah.
A Message From Our Founder
We understand that many people are concerned about the bankruptcy process, whether they are going to lose their property, or what types of debts are eligible to be discharged through bankruptcy. Here are some of the most common questions that we hear:
Frequently Asked Questions
- What are the differences between a Chapter 7 bankruptcy and a Chapter 13 bankruptcy? When you file for a Chapter 7 bankruptcy, all of your unsecured debt, such as medical bills or credit card debt can be discharged. A Chapter 13 bankruptcy provides a way to repay some portions of debt over time, while discharging other portions of your debt. Our attorneys handle significant amounts of both Chapter 7 bankruptcies and Chapter 13 bankruptcies.
- What debt can I discharge by filing for bankruptcy? Filing for a Chapter 7 bankruptcy allows you to discharge most types of debt such as credit card debt, medical bills, and other types of debt that is unsecured. Generally speaking, child support debt and student loan debt are not eligible for discharge. Some federal income taxes may qualify to be discharged if they are at least three years old and were filed on time.
- Can I keep my property from being liquidated? Most of the people who file for a Chapter 13 bankruptcy have significant assets that they want to prevent from being liquidated. Chapter 13 bankruptcies prevent liquidation of any property. In a Chapter 7 bankruptcy, some assets may be subject to liquidation, while many people who file for Chapter 7 bankruptcy are able to keep much of their property from liquidation by claiming bankruptcy exemptions or filing for debt reaffirmations.
- Will filing for bankruptcy keep my home from foreclosure? By filing a Chapter 13 bankruptcy, home foreclosure can be stopped or prevented. A court approved debt repayment plan can give you time to catch up on the amount owed on your mortgage. Typically, these repayment plans have terms of three or five years to bring your mortgage to current.
Contact Us
For other questions about bankruptcy, contact us at (801)528-6759 or through email and schedule a free consultation at one of our locations in Ogden, Sandy, Logan, or Orem Utah.