Consumer Bankruptcy Lawyers in West Jordan, Utah

Find the right Consumer Bankruptcy attorney in West Jordan, UT

Bankruptcy allows an individual or business to get rid of some or all of its debt. Generally, bankruptcy should only be considered when the debt is completely unmanageable, impossible to pay off, and there are no other options. However, in some cases, the benefits of bankruptcy can significantly outweigh the costs. Bankruptcy is governed by federal law and handled in federal courts, so the procedural and substantive rules involved in Utah are often the same as anywhere else in the U.S. However, individual bankruptcy courts have slightly different rules for items such as exemptions, so it would be a good idea to consult with a local West Jordan, Utah bankruptcy lawyer beforehand.

Chapter 7 Bankruptcy in West Jordan, Utah

There are 2 common forms of consumer bankruptcy in West Jordan, Utah: Chapter 7 and 13. Chapter 7 liquidates some of the debtor's assets. It requires a certain percentage of the debtor's assets to be sold off to pay as much of his or her debt as possible. However, many types of property that most people own are exempt, meaning that they don't need to be sold. This often includes houses, vehicles, insurance policies, and essential personal items, like clothing. These assets are not available to creditors.

Once eligible assets are sold, and the money turned over to the creditors, most remaining debt is discharged. However, there are certain types of debt that cannot be discharged in bankruptcy, including student loans, taxes, child support, and criminal fines. If most of your debt is non-dischargeable, it may not be a good idea to file for bankruptcy in West Jordan, Utah.

Chapter 13 Bankruptcy in West Jordan, Utah

Chapter 13 bankruptcy in West Jordan, Utah is markedly different. It may or may not be a better option than Chapter 7, depending on the facts of your particular case. Chapter 13 does not discharge debt, but restructures it instead. Usually, various debts are consolidated into a single monthly payment. This is designed to make the debt more manageable, giving the debtor the chance to pay off the debt over a longer period of time, without all of it coming due at once. This is usually manageable, as long as the debtor can make some sacrifices.

Which Type of Consumer Bankruptcy Should I File in West Jordan, Utah

Whether Chapter 7 or Chapter 13 is the right choice for you depends heavily on your individual situation. If you have a steady income stream, and a lot of non-exempt property, Chapter 13 might be right for you. If you don't have a steady income, and most of your property is exempt, Chapter 7 might be a better way to go.

Of course, you should always seek the counsel of an experienced local West Jordan, Utah bankruptcy attorney before you make the decision to file. He or she will be able to advise you of your options, and suggest the best possible course of action for your particular situation.

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Life in West Jordan

West Jordan is located in the heart of Salt Lake Valley in Utah. It is part of Salt Lake County and has a growing population of about 76,000 people. The city was settled as early as 1848 and relied mostly on agriculture and mining to create its economic base.

Today, West Jordan is one of the most rapidly growing cities in Utah and a major suburb of Salt Lake City. Its recent growth may be attributed to residential expansion as well as commercial development. The city currently boasts four different retail centers, the largest being the Jordan Landing complex. Due to its population boom, future plans for West Jordan include expansion of its railways and commuting freeways.

West Jordan is an immensely popular destination for persons seeking local festivities, such as the Fourth of July Western Stampede held every year. Also, the city's Arts Council sponsors numerous culture events and activities. The Schorr Art Gallery and the Sugar Factory Playhouse house many art exhibits and shows.

Lawyers in West Jordan, Utah are known for their commitment to excellence and service. West Jordan lawyers usually file their claims at the West Jordan City Justice Court or at the Salt Lake County West Jordan District Court. Many of them are also members of the Salt Lake County Bar Association in addition to the Utah State Bar.

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