It is worth noting that Chapter 9 bankruptcies are relatively rare compared to other types of bankruptcies, and that most municipalities prefer to avoid bankruptcy if at all possible.
Each type of bankruptcy has its own eligibility requirements, process, and consequences.
If you are a Utah business owner and are considering bankruptcy, it’s a good idea to consult with a Utah bankruptcy attorney to understand your options and to ensure that you make the best decision for you, your business and your financial future.
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
So which bankruptcy is best? There really isn’t a right or wrong type of bankruptcy–it all just depends on your circumstances and what would work best for your specific situation. To give you a general idea of which bankruptcy is best you need to understand the different kinds of bankruptcy, here’s a quick summary of… Continue reading Which bankruptcy is best
Are bankruptcy proceedings held in federal courts? In Utah those courts are located in Salt Lake City and in Saint George, Utah. The clerk of the bankruptcy court is located at the court in Salt Lake at 350 South Main Street, Salt Lake City in the Moss Courthouse on the Third Floor. Bankruptcy is part… Continue reading Where are bankruptcy proceedings held
When filing for bankruptcy for a corporation there are a few options of the proper kinds of bankruptcy. The following is merely an quick overview and we suggest you seek out an experienced bankruptcy lawyer. In Utah that would be us! A Chapter 7 bankruptcy will be able to provide an orderly liquidation of the… Continue reading Bankruptcy for corporations
This is an interesting question. Worst in what way? This is my first come back to such a question since if your are a creditor you probably think all bankruptcy is bad (if you are a creditor read about Chapter 13 – it is actually good for creditors). If you are a debtor, I take… Continue reading Which bankruptcy is the worst