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
Jonathan was very thorough in helping me with my divorce. I had a pretty complex situation but he was planned and prepared every step of the way. We were able to come to a resolution without a trial and he had everything drafted and prepared at our pre trial scheduling conference. He had my back the whole way and I’m truly grateful for him and his fantastic paralegal, Stephanie. She was always very quick to get back to me with any questions I had. I would highly recommend Jonathan to any and everyone going through a divorce. I’m so thankful I had him and Stephanie through the process.
Chelsey Olsen
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, 2024Always quick to answer questions.
Kristy Doesburg
February 23, 2025Very helpful and patient really help me through a hard time
Austin Gambles
March 23, 2024Jonathan 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, 2024I highly recommend Jonathan Porter and his team, Cassidy and Stephanie to everyone who unfortunately see’s themselves faced with Divorce or Child Custody issues. My Fiancé Has been going through a very complex divorce/custody battle since 2021. We previously hired 2 other attorneys in the area that we regret greatly. Jon has been amazing and truly cares about his clients! He will absolutely fight for you and your rights as a parent.
Seana Grattan
April 23, 2024Having to Use a Lawyer is not always my Favorite thing to do, However Porter Law Firm hands down made everything so much less stressful!, Life long Customer here!!
Ryan Westwood
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, 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.
Jessica Fowler
March 23, 2023I found Jonathan and his paralegal Cassidy while needing help correcting custody issues with my children. They both stepped into a situation that for me has been emotionally exhausting and they have been nothing more than amazing. They are both compassionate and caring while understanding the need for legal fairness and action. They have been very patient when I have anxiously reached out for reassurance or when I've asked a thousand questions. I was very impressed by the professional and respectful way they interacted with the mother of my children despite knowing the turbulent history of things. I have also been impressed by their concern for my children. Needing a lawyer is always difficult, but Jonathan and Cassidy have been an incredible asset and their help has been invaluable.
Ryan Uhrey
March 23, 2024
