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
Porter Law was amazing! Helped me with some custody stuff and actually had my back. Jon and his staff are fantastic!
Cody Vine
July 23, 2024My fiance and I came to Jonathan Porter so he could get divorced from his prior marriage. They were very friendly, helpful, and reasonably priced. We were able to have the divorce final within a few months. We are very satisfied and highly recommend.
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March 23, 2023Jonathan and his staff at Porter law firm are amazing! I was going through one of the most terrifying and uncertain times in my life. I came in with no knowledge of how this worked feeling embarrassed and ashamed. He never once made me feel like I wasn’t Deserving and he fought for me to the very end! I always felt safe and secure at a time I was most vulnerable!! Thank you for everything !
Michelle Houtz
March 23, 2024He 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, 2024Jonathan handled my divorce with compassion and respect. I had a unique situation and he helped me out in a huge way. Cassidy was very helpful and answered all my questions. I would definitely recommend his services.
yvette lankford
August 23, 2024Very helpful and patient really help me through a hard time
Austin Gambles
March 23, 2024Jonathan and his paralegal Cassidy were very helpful to me in my post divorce legal proceedings. They were knowledgeable, responsive, and fought hard for me. I highly recommend Jonathan.
Amanda Jane
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, 2024Like some of us we find ourselves needing assistance when dealing with family obstacles. I fortunately found Jonathon Porter and couldn’t be more happy with the results we have obtained. We have an amazing line of communication and full transparency of what could be the possible outcomes. I couldn’t ask for a better attorney for my family’s situation. He listens and makes sure your voice is heard.
Christoph Samek
February 23, 2025Jonathan 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, 2024
