A Chapter 7 Bankruptcy does not involve the filing of a plan of repayment like a Chapter 13 Bankruptcy.
Chapter 7 Bankruptcy in Utah is a process that entitles you to a fresh financial start. In a Chapter 7 bankruptcy, individuals can wipe out many types of unsecured debt. Unsecured debt is debt that you do not have to put up collateral for, such as a debt incurred from a credit card, or medical bills. The Chapter 7 bankruptcy filing process takes about three to five months. Before you can file for Chapter 7 bankruptcy, you must go through credit counseling with an agency approved by the Untied States Trustee, and complete a debtor education course.
Debts Discharged in a Chapter 7 Bankruptcy
Most debts in Utah are dischargeable in a Chapter 7 bankruptcy, including medical bills, loans, credit cards, cash advances, and most judgments. However, there are some debts that may not be dischargeable, taxes, child support, student loans, criminal fines, debts not listed in the bankruptcy petition.