Chapter 13

Salt Lake City | Ogden Chapter 13 Bankruptcy Lawyers | Utah BK Attorneys

National Association of Consumer Bankruptcy Attorneys

People who face significant consumer debt can receive some relief through legal actions made available through bankruptcy law.  The attorneys at the law firm of Arnold & Wadsworth have vast knowledge and experience at guiding individuals through tough financial circumstances including decisions regarding bankruptcy.  Our attorneys can help you assess your financial situation, help you decide whether to consider or avoid bankruptcy, and can guide you through any legal procedures you may chose to pursue.

Understanding Chapter 13 Bankruptcy

The primary legal resource available to individuals facing debts they are unable to meet is to file for consumer bankruptcy through either Chapter 7 or Chapter 13 of the United States Bankruptcy Code.  For those considering taking such an action, it is first important to understand the difference between the two and how each could impact you.  With fewer qualifications, Chapter 13 bankruptcy is made available to many more people than is Chapter 7.  Chapter 13 bankruptcies can serve as a tool to provide you some relief while enabling you to maintain most, if not all, of your assets including your home.

As with Chapter 7 bankruptcy, filing for Chapter 13 bankruptcy will initiate automatic stays against most collection attempts against you for at least a short time.  Furthermore, unlike Chapter 7 bankruptcy which may enable you to delay a foreclosure sale but likely won’t prevent it, in most cases Chapter 13 bankruptcy will provide means for you to save your home from foreclosure.

Either form of bankruptcy will require the applicant to submit significant paperwork and financial disclosures.  Chapter 13 bankruptcies will also involve the creation of a repayment plan, usually 3 to 5 years in length, to allow you to fulfill reorganized debt obligations to your creditors.

Free Consultation at Arnold & Wadsworth

If you are considering filing for bankruptcy, or have questions regarding whether you should file, seek the qualified advice of experts who have seen the process in action.  Filing for bankruptcy will have lasting effects on an individual and a family, some positive and some negative, and the decision should be done under guidance.

Call the local Ogden Utah attorneys of Arnold & Wadsworth today to receive your free initial consultation.  Let us help you evaluate your case to see if or how we can be of service to you.  Call us at (801) 475-0123.

 
x
Contact Us Now

Get the help you deserve!