Find the Best Bankruptcy Attorneys in Utah
If you live anywhere in Utah, you are struggling financially, and you want to speak with the best bankruptcy lawyers in the state, you’ve come to the perfect place. Mounting debts, imminent foreclosure, and harassing phone calls from creditors are a nightmare. You need the most experienced and knowledgeable attorney in your corner, providing the highest-quality bankruptcy services available.
You will not find a team more experienced and qualified in consumer bankruptcy matters than Beehive Bankruptcy Law. Our bankruptcy attorneys have decades of consumer bankruptcy experience, and we are one of most awarded bankruptcy law firms in the Wasatch Front area. We know that every single client requires individualized attention. Our bankruptcy lawyers are easily accessible before, during, and after your bankruptcy, and we’ll answer all questions and address all concerns.
Bankruptcy Lessons Learned
Becoming the most experienced bankruptcy firm in Utah has taught us a few things in the process. The most important lesson we’ve learned is that bankruptcy only solves half of your financial problem. If you are behind in payments to creditors, your credit score is low because of late payments, charge-offs, foreclosures, and repossessions. Terrible credit is part of the vicious cycle of poverty. People with bad credit pay more for everything, such as cars, houses, and credit cards. After eliminating your debt, you need to break the cycle of bad credit.
Beehive Bankruptcy is the only holistic bankruptcy law firm serving Utah, throughout the Salt Lake, St. George, Ogden, and Provo areas.
We help you eliminate debt through bankruptcy and rebuild your credit through our credit rebuilding program. Most clients experience a complete transformation of their financial health in a couple of years from a bankruptcy filing, whether they file a Chapter 7 or Chapter 13.
Another valuable lesson we’ve learned over the years is that people in need of bankruptcy often don’t have the immediate resources to pay for the bankruptcy. That’s why we’ve pioneered bankruptcy fee installment payments. Our Fast File program allows you to file a Chapter 7 bankruptcy without paying any fees before filing the case. You only need to cover the actual out-of-pocket costs to get your case filed. Similarly, in Chapter 13, the vast majority of our attorney fees are paid after we file your bankruptcy case.
Helping Through Hard Decisions
Here at Beehive Bankruptcy Law, we know that opting to file for bankruptcy is a hard decision to make. When facing financial difficulties, we urge our clients to remember that they can overcome. Bankruptcy is one way for individuals and organizations to recover from financial problems. Our team wants to make sure you understand that you are not alone and that we offer a range of bankruptcy services to help.
Our bankruptcy lawyers’ goal is to arm you with all the knowledge you need to make the best decision possible and understand how to avoid another financial crisis. While meeting with you to discuss different types of bankruptcy, we’ll gather all information on the debts you owe and any assets you own. Based upon your situation, we’ll go over which of the following bankruptcy options is best for you.
Consumer and Business Liquidation
A Chapter 7 liquidation case is the most common way to eliminate debt in bankruptcy. Chapter 7 generally most appropriate for those who are current with their mortgage payments but who are struggling with unsecured debts such as medical bills or credit card debt. A person must wait eight years between Chapter 7 bankruptcy filings. If it has been less than eight years since your last bankruptcy, you can still file a Chapter 13. Chapter 7 can also be used by businesses, serving a way to end the life of a corporation that owes more money than the value of its assets. See how our bankruptcy lawyers can help you with your Chapter 7 filing.
Businesses and corporations usually fall under Chapter 11 bankruptcy. Individuals can file Chapter 11 if their debts exceed the Chapter 13 debt limits. Like Chapter 13, Chapter 11 allows a business to restructure debt so that its income meets its outflow. It is ideal for a company that generates enough income to be cash-flow positive to restructure its debt into smaller monthly payments. The business continues to operate during the restructuring process, and once a Plan of Reorganization Plan is confirmed, the bankruptcy case typically closes until the debtor completes the plan. A wide range of factors, including business mismanagement and economic conditions, is often the root cause of financial instability.
Chapter 11 – Learn More Here
Chapter 13 is similar to Chapter 11, but it is specifically for consumers needing to restructure their monthly obligations to make ends meet without losing their home or car. In Chapter 13, debtors can lower their car payments. For instance, if you currently owe $20,000 on a car loan at 24% interest (not uncommon if you have bad credit), your car payment is probably around $600. In Chapter 13, that same car loan will cost $377 per month.
Unlike Chapter 7 or Chapter 11, there is a debt limit for Chapter 13. The Chapter 13 debt limit is $419,275 for a debtor’s noncontingent, liquidated, unsecured debts, and $1,257,850 for a debtor’s noncontingent, liquidated secured debts.
Chapter 13 – Learn More Here
Rebuilding After Bankruptcy
Most bankruptcy lawyers merely help you file your case, and the support stops there. Beehive Bankruptcy Law, we know that bankruptcy is just part of the solution. We take you beyond the bankruptcy by implementing a proven strategy for rebuilding your credit after your bankruptcy case is complete. This program, which usually costs $1,000, is provided to our clients for no additional fee. See how our bankruptcy lawyers go above and beyond to help you rebuild your credit.
A growing issue across the country has been student loan debt. In Utah, many residents are saddled with education debt. Bankruptcy is a natural response to becoming buried in debt, but it has been consistently difficult to navigate around this financial burden. With the right team at your back, we can help ease the burden of student loans.
The bankruptcy process starts with a petition that is filed by the debtor, where they list all assets and debts. Certain exemptions are allowed under Utah law that will protect the debtor’s property. Debtors are allowed a certain number of exemptions, and if they are over that limit, the non-exempt assets are considered the property of the bankruptcy estate. If there is “bankruptcy estate property,” it hardly ever means “losing your assets.” Instead, debtors usually work out monthly payments to the trustee to “buy back” their non-exempt assets.
Questions or Concerns?
Learn more about the types of bankruptcy services and claims that Beehive Bankruptcy Law offers our clients.
DISCLAIMER – This bankruptcy overview is not an exhaustive review of bankruptcy law in Utah. Do not regard nor rely upon this as legal opinion applicable to all circumstances. Each case is different and requires individual advice. If you have questions or concerns, please contact us to schedule a consultation with our bankruptcy lawyers by calling XXXXXXXXXXX or by completing our online form.
RELIEF. RESTORE. RENEW.
Let Beehive Bankruptcy Law help you through the entire process.