Chapter 7 Bankruptcy
When people think of bankruptcy, a Chapter 7 bankruptcy is typically the type of bankruptcy they imagine. Chapter 7 bankruptcy is a debt liquidation bankruptcy in which most forms of consumer debt are completely discharged.
Millions of people have filed for Chapter 7 bankruptcy to:
- Eliminate or significantly reduce their debts
- Stop creditor harassment
- Discharge credit card debts/medical bills
- Stop an auto repossession
- Stop a wage garnishment
To see if bankruptcy is right for you, schedule a free consultation with a bankruptcy attorney at the law office of Theron D. Morrison. Call 801-528-4883 to schedule an appointment at one of our convenient office locations in Ogden, Sandy or Logan, Utah.
How Does Chapter 7 Bankruptcy Work?
To be eligible for a Chapter 7 bankruptcy, you must meet an economic means test that takes into account your income and your total debt load. Most of the people who contact our law office are eligible for Chapter 7 relief, but Chapter 13 bankruptcy is an alternative if you are not eligible for a Chapter 7 bankruptcy.
If you are eligible and decide to file for Chapter 7 bankruptcy, the process is fairly quick. A Chapter 7 bankruptcy can be concluded in a matter of a few months.
As soon as you file for bankruptcy with a bankruptcy court, an automatic stay is created that bars most creditors from further collection efforts. This means that you can put an end to harassing collection calls from credit card companies, medical bill collectors and debt collection agencies.
A Chapter 7 bankruptcy completely eliminates most forms of debt, including credit card debts, medical bills and other unsecured debts. Clients are often pleasantly surprised to discover that through bankruptcy exemptions and debt re-affirmations they are able to retain much of the property they wish to keep.
Learn More
There are many misconceptions about bankruptcy that cause people to have fears that are completely unnecessary. Visit our frequently asked questions page and bankruptcy myths page to learn more about bankruptcy.
Contact Us
To speak with a bankruptcy lawyer at our firm about your legal needs, call 801-528-4883, or contact us by e-mail.
