Bankruptcy
Bankruptcy in Utah and How It Can Help You Move Forward
Financial struggles can happen to anyone, and when debts become overwhelming, bankruptcy may provide a way to regain control and move forward. Bankruptcy is a legal process that allows individuals and businesses to eliminate or restructure debt under federal and state laws.
At Porter Law Firm, we help clients navigate the bankruptcy process, ensuring they understand their rights and options while working toward a debt-free future.
Types of Bankruptcy in Utah
- Chapter 7 Bankruptcy (Liquidation) – Eliminates most unsecured debts, such as credit cards, medical bills, and personal loans. Some assets may need to be sold, but Utah’s bankruptcy exemptions often allow individuals to keep essentials like their home and vehicle.
- Chapter 13 Bankruptcy (Repayment Plan) – Allows individuals to restructure debt and create a repayment plan over three to five years, keeping assets while catching up on missed payments.
- Chapter 11 Bankruptcy (Business Reorganization) – Used by businesses to reorganize debt while remaining operational.
- Chapter 12 Bankruptcy (Family Farmers and Fishermen) – Specifically for individuals in agricultural professions who need structured debt relief.
Each type of bankruptcy has specific eligibility requirements, so it is important to understand which option best fits your situation.
Benefits of Filing for Bankruptcy
- Stops Creditor Harassment – Filing for bankruptcy triggers an automatic stay, which halts collection efforts, lawsuits, wage garnishments, and repossessions.
- Eliminates or Reduces Debt – Unsecured debts like medical bills, credit cards, and personal loans may be discharged completely.
- Allows You to Keep Essential Assets – Many individuals filing for bankruptcy can retain their home, car, and personal belongings under Utah’s exemption laws.
- Provides a Financial Reset – Bankruptcy can offer a clean slate, allowing you to rebuild credit and regain financial stability over time.
FAQs
Will I lose my home or car if I file for bankruptcy?
Not necessarily. Utah’s bankruptcy exemptions protect certain assets, allowing many filers to keep their primary residence and vehicle under specific conditions.
How long does bankruptcy stay on my credit report?
A Chapter 7 bankruptcy remains for 10 years, while a Chapter 13 bankruptcy stays for seven years. However, many people start rebuilding their credit much sooner..
Can bankruptcy stop wage garnishments and creditor calls?
Yes. The moment bankruptcy is filed, an automatic stay takes effect, stopping collections, foreclosures, repossessions, and lawsuits.
Learn from the Experts
Our Blog
How Bankruptcy Can Provide a Fresh Start for Utah Residents
Chapter 7 vs Chapter 13 Bankruptcy and How to Choose the Right Option
What You Can and Cannot Keep in a Utah Bankruptcy Filing
He was absolutely amazing! He listened to all my concerns for my divorce and fought for everything I was pursuing. Definitely recommend for any legal needs!! His team was also awesome and very responsive.
Brickale Robinson
July 23, 2024Was an amazing help, answered all my questions and concerns very quickly and easy to understand!
harli trussell
February 23, 2025Jonathan helped my brother in a custody case, he was fair, kind, and caring throughout the process. Jonathan and his team were so great to work with.
Sydnee Hammer
July 23, 2024Jonathon helped my husband and I with a gestational agreement as we embark on the journey of surrogacy. He was kind and responded quickly to our questions. His staff members were supportive and took the time to answer all questions thoroughly. Jonathan was able to get our agreement validated in court and the judge praised how well the agreement was prepared. My husband and I recommend Jonathan without any reservation.
Kristen Porter
March 23, 2024Jonathan and Cassidy are so amazing. They helped me out so much going through my divorce. I went through a divorce for almost 6 years. I used 2 previous lawyers that were terrible and I wish I hadn't ever used. I found Porter Law Firm and they were so awesome to work with. They were able to navigate my case and get it completely done where others couldn't come close. I was always able to reach someone about issues or questions I needed answers to. They respond super quickly which was great because things change from day to day specially in a messy divorce. I recommend Porter Law Firm to everyone for any of your Law needs.
Dustin Porter
March 23, 2024Jonathan is of great help. Great attorney.
Wayne Higgs
March 23, 2024Divorce can be a stressful thing to navigate. Johnathan Porter and his team go above and beyond to protect your best interests. They communicated with me every step of the way. I feel Johnathan really listens and asks questions to truly understand all the facts. I highly recommend Porter Law firm to anyone needing legal counsel! Thank you for everything.
CB
March 23, 2024Porter is a great attorney! I felt listened to and he always gave me options to get to where I wanted to go. He was professional and responsive. I highly recommend him.
jessica bendezu quispe
December 23, 2024He has been helpful and was quick to accept our case and last minute as well. We had a lot of history prior to working with him and he wasted no time catching himself up. His help really gave us hope when things felt hard. He is understanding and he and his team has been great to work with.
Bre Samek
February 23, 2025Porter Law was amazing! Helped me with some custody stuff and actually had my back. Jon and his staff are fantastic!
Cody Vine
July 23, 2024
