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Brief Introduction to Chapter 13 Bankruptcy

Posted by attorney Jeffrey Butler

An individual with a steady income who is facing foreclosure or feeling frustrated from a lack of cooperation from creditors may consider a Chapter 13 bankruptcy for bankruptcy protection because it allows an interest-free repayment plan and may allow the individual to keep property that may be at risk under a Chapter 7. The bankruptcy court allows the individual a repayment plan for a specified time period, typically 3 to 5 years, and may even allow the individual to discharge the remaining unsecured debt at the plans conclusion.

If you live in Utah and are looking at your options with bankruptcy, including Chapter 7 and Chapter 13, or need facing foreclosure, call the attorneys at PEARSON & BUTLER at #801-455-7125. We offer free consultations.

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