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    Andrew B Clawson Andrew B Clawson
    Attorney at Law

Chapter 13 Bankruptcy Utah

Chapter 13 Bankruptcy - Serving Salt Lake City, West Jordan and nearby areas!

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Utah Chapter 13 Bankruptcy Information

Important Information About Filing for Chapter 13 Bankruptcy in Utah

With chapter 13 bankruptcy, debtors are able to keep their property by agreeing to pay some of the debts they owe in a three-to-five-year plan. After you complete your chapter 13 bankruptcy payment plan, your pre-bankruptcy debts will be forgiven. This is different from a chapter 7 bankruptcy, where you must forfeit all non-exempt property but are relieved of most or all debts immediately.

Importantly, you can use chapter 13 bankruptcy in Utah to save your home from foreclosure, as this type of bankruptcy will forgive missed mortgage payments and stop foreclosure proceedings.

Having a Chapter 13 lawyer experienced in handling Chapter 13 cases will definitely keep things simple, especially if you encounter problems along the way (e.g., creditors alleging fraud against you, having priority debts that can’t be discharged, or owning much property). The simpler the bankruptcy, the better the chances are to receive a bankruptcy discharge.

10 Advantages of Filing Chapter 13 in Utah

1. Keep your assets. Filing for chapter 13 bankruptcy in Utah allows you to keep your home, car, and other non-exempt property that could be taken away if you file for chapter 7 bankruptcy. Just be sure to hire a good Chapter 13 bankruptcy Utah attorney.

2. Stop the bank from foreclosing on your home. Chapter 13 bankruptcy prevents banks from foreclosing on your home — no matter how many mortgage payments you’ve missed.

3. Get your repossessed car back. The thing about Chapter 13 cases is that they keep creditors from repossessing vehicles or other valuable assets. You can even get back a repossessed car if you file for chapter 13 within 10 days of your car being repossessed.

4. Make up your missed mortgage payments. Chapter 13 cures your mortgage defaults by allowing you to make up your missed payments over three to five years.

5. Make up your missed car payments. Make up secured loan payments —such as a car loan — by filing for Chapter 13 in Utah. As with mortgage defaults, you can keep your property and make up your missed payments over the span of your three-to-five-year payment plan.

6. Get rid of your second mortgage. With chapter 13, you can eliminate a second mortgage or trust deed on your home as long as your home is worth less than you owe on your first mortgage.

7. Lose harassing debt collectors. When you file for chapter 13 bankruptcy, your debts are forgiven and collection agencies must stop contacting you to collect old debts — effective immediately.

8. Stop wage garnishment. As with creditor harassment, wage garnishment ends immediately when you file for chapter 13 bankruptcy, as your pre-bankruptcy debts are erased.

9. Change your loan terms. Chapter 13 bankruptcy lets you alter the loan terms on secured debts such as your mortgage or car loan. For example, you can change the repayment length and interest rate on some loans.

10. Get a “Super Discharge.” Certain debts that chapter 7 bankruptcy will not dissolve can be eliminated with chapter 13 bankruptcy.

At the end of the agreed period (usually 36 or 60 months), you will be discharged from all dischargeable unsecured debts. This will happen regardless of how much your creditors have received. In most bankruptcy counts, $200 is usually the minimum payment people make in Chapter 13 cases.

Eligibility for Chapter 13 Bankruptcy in Utah

People most often file a Utah Chapter 13 bankruptcy when they:

  • don’t qualify for a Chapter 7 bankruptcy because they make too much money;
  • have too many assets which will be lost in a Chapter 7; or
  • are facing the risk of losing their house.

Utah individuals and married couples are eligible for chapter 13 bankruptcy if they earn enough money to make the payments of their agreed on chapter 13 plan. In addition to your income, some other things that will be taken into consideration to determine your chapter 13 eligibility include:

  • Your monthly expenses
  • The regularity of your income
  • The amount of secured or unsecured debts you owe

Chapter 13 Bankruptcy Attorney in West Jordan, Utah

Utah Chapter 13 bankruptcy can help you reduce your debt payment and keep your assets. In other words, you can get the fresh start you deserve, but with less debt burden.

To help determine if chapter 13 bankruptcy is the right choice for you and get an idea of what your Utah Chapter 13 bankruptcy payment plan would look like, call esteemed Salt Lake City bankruptcy lawyer Andrew B. Clawson at 801-207-8288. You can also contact us via email or complete our online bankruptcy evaluation form to set up a free chapter 13 bankruptcy consultation with Andrew.

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