Filing for Chapter 7 bankruptcy as an individual can be a time consuming, confusing, and stressful experience – but it doesn’t have to be. At the Law Office of Davis & Jones, P.C., we make the process as easy and stress free as possible.
Our highly skilled bankruptcy attorneys have been serving residents of Salt Lake City and the surrounding communities since 1995. We’ve helped more than 20,000 Utah residents down the road to debt relief. Let our law firm handle your individual bankruptcy case. You’ll have peace of mind in knowing that you have effective legal representation.
Before you decide to file for bankruptcy as an individual, however, you may want to know what the process involves. Here’s a look at the steps you’ll need to take to set the stage for a brighter financial future.
Step 1: Talk to an Experienced Legal Professional
Is a Chapter 7 claim the right fit for your financial situation? A legal professional with indepth knowledge of the state and federal bankruptcy laws can provide you with expert advice on bankruptcy for individuals. Our experienced attorneys offer free consultations. That means you can get some of the answers you need at no cost.
Step 2: Complete the Required Credit Counseling Course
Once you’ve made the decision to file for bankruptcy as an individual, you’ll need to complete a credit counseling course. To meet the legal requirement, the class must be taken within the 180-day period before filing, with a consumer agency approved by the U.S. Trustee Program.
Step 3: File for Bankruptcy in the State of Utah
Next, your bankruptcy attorney will complete the necessary paperwork and file the petition with the court. As soon as that’s done, an automatic stay immediately goes into effect, and your creditors will be informed that they need to cease any and all collection actions.
Step 4: Cooperate with the Bankruptcy Trustee
The Utah court will appoint a bankruptcy trustee to your case. The Trustee is in charge of reviewing your case. You’ll need to provide any records they request and attend a meeting of creditors. The trustee in a Chapter 7 case will liquidate any nonexempt property that you own and pay creditors. In a Chapter 13 case the Trustee collects your payment and pays creditors with that money.
Step 5: Complete the Required Personal Financial Management Course
The next step in the individual Chapter 7 bankruptcy process is to complete a personal financial management course. As with credit counseling, the course must be from a trustee-approved consumer agency. The deadline for completion in a Chapter 7 case is 60 days after the initial date of the meeting of creditors.
Step 6: Get a Bankruptcy Discharge and a Fresh Financial Start
Finally, your eligible debts will be wiped away. With the discharge, your obligation to pay those debts disappears. You’ll have a clean slate, an opportunity to get on solid financial footing – and the bankruptcy discharge is likely to make your life better.
With the Law Office of Davis & Jones, P.C., getting a handle on your debts is much less difficult. For a free consultation to discuss filing for bankruptcy as an individual, contact us today.