All of the team at the Utah Bankruptcy Guy join together and wish you a very Merry Christmas and a Happy New Year!
In a nutshell you file a Chapter 7 case by submitting a petition in which you disclose all your assets, debts, income and expenses to the court. The documents are reviewed by a series of Trustee’s and at the end of the proceeding, the bankruptcy court issues an order of discharge, and you are no longer liable for applicable debts.
Utah small business bankruptcy is considerably more complex than consumer (personal) bankruptcy. Be careful do not accept the “one-size-fits-all” approach most bankruptcy firms employ. Look for a law firm that will sit down with you discuss whether a Utah small business bankruptcy is your best option. Work with an attorney that is will to suggest non-bankruptcy options as well as bankruptcy option