Chapter 13 Bankruptcy in Utah
Did you know that by filing Chapter 13 bankruptcy, you can formulate a plan to repay your creditors over a 3 to 5 year period of time? Chapter 13 provides you with an opportunity to stop foreclosures and get caught up on back house payments without losing your home. It also allows you to strip off second liens that are wholly unsecured. If you have regular monthly income, we can help you formulate a plan to repay your creditors. You may be able to lower the interest rate on secured debts, such as vehicle loans, and do a cram down on the value of the loan (reducing the principal to the fair market value of the vehicle).
Chapter 13 is only available for consumer debtors with regular income. Business debtors are not eligible.
To find out more, call us today for a free consultation.