Fresh Start Bankruptcy | Chapter 7 Bankruptcy

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                          Chapter 7 & Chapter 13

LAW OFFICES OF LAURA FERRIN
A Professional Law Corporation

Utah Chapter 7 Bankruptcy Attorney Free Consultation

Chapter 7 Fresh Start

Chapter 7 is the most common form of bankruptcy in Utah and is certainly the quickest form of bankruptcy relief available today. Otherwise known as "debt elimination" bankruptcy, it provides debtors with a fresh start quickly so that they can move on with their lives and progress toward a brighter future. A Chapter 7 case generally lasts approximately 4-5 months.

Most debtors in Chapter 7 in Utah keep all of their property and eliminate all of their debt. Our office files mostly Chapter 7 cases because Chapter 7 is generally the most advantageous form of bankruptcy relief.

Stop Creditor Collection Activities

Once a debtor files for bankruptcy relief, creditor action is stopped due to what is called the "automatic stay." Many people enter bankruptcy protection in order to stop wage garnishments or other harmful collection activities from occurring or from continuing to occur.

Qualifications and Eligibility

To qualify for a Chapter 7 bankruptcy discharge, one must not have received another Chapter 7 discharge during the previous 8 years. Another eligibility requirement is the "means test." The means test has two parts: the look-back test, and the look-forward test. The look-back test dictates that the debtor's gross monthly average household income received from all sources during the six full months prior to the debtor's case filing, when annualized, must be below the Utah median income for families of the debtor's size. The look-forward test mandates that the debtor's ongoing gross average household income, from approximately two months before the bankruptcy case is filed until at least two months after the bankruptcy case is filed, when annualized, cannot generally exceed the median gross income here in Utah for families of the debtor's size, and the Schedule J bankruptcy form cannot show net disposable income of $50.00 or more.

To view the median gross income in Utah for your family size, click here. The median gross income for a family size of 1 person is $64,445.00, of 2 persons is $72,885.00, of 3 persons is $85,507.00, of 4 persons is $95,430.00, of 5 persons is $104,430.00, of 6 persons is $113,430.00, of 7 persons is $122,430.00, of 8 persons is $131,430.00, of 9 persons is $140,430.00, and of 10 persons is $149,430.00.

Property Limitations

Another factor affecting whether a debtor will wish to file a Chapter 7 liquidation bankruptcy case is the amount of equity in the debtor's home and the amount of equity in and number of vehicles that a debtor has. Utah state law exemptions are utilized in bankruptcies to protect property from the bankruptcy trustee and estate.

Free No-Obligation, No-Hassle Case Evaluation

You are not facing bankruptcy alone. We are here to help you every step of the way in order to make the process as easy for you as possible. If you would like a free evaluation of your situation or case, contact our law offices at (801) 850-8125 to schedule an appointment with experienced Utah bankruptcy attorney Laura Ferrin. Our head office is in Sandy, Utah, and we also have locations in downtown Salt Lake City and Lehi for your convenience.

9130 S. State Street, Suite 120
Salt Lake City, Utah 84070-2645

299 S. Main Street, Suite 1300
Salt Lake City, Utah 84111-2241

2975 Executive Parkway, Suite 195
Lehi, Utah 84043-4717

Call (801) 850-8125 Now for an Appointment for a Free Consultation

We are a Utah debt relief agency. We help people file for bankruptcy protection under federal bankruptcy laws.

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