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Salt Lake City Bankruptcy Lawyer

Eric K. Schnibbe
Eric K. Schnibbe
schnibbe@mcgiplaw.com
801.359.9000

Magleby Cataxinos & Greenwood

170 South Main Street
Suite 1100
Salt Lake City, UT 84101
United States

Salt Lake City Bankruptcy Lawyer

The Salt Lake City bankruptcy lawyers at Magleby Cataxinos & Greenwood assist clients in bankruptcy cases in Utah. The Salt Lake City bankruptcy lawyers represent clients in both Chapter 7 bankruptcy and Chapter 13 consumer bankruptcy cases. The Salt Lake City bankruptcy lawyers also have experience representing businesses, as counsel for both debtors and creditors, in Chapter 11 bankruptcy and Chapter 7 bankruptcy cases.

The branch of bankruptcy law involves the procedure or legal method by which a debtor is relieved of financial liability for its debts by establishing a court-approved reorganization plan or a plan for partial repayment. The Salt Lake City bankruptcy lawyers are knowledgeable in all areas of general bankruptcy law, including but not limited to Chapter 11 bankruptcy, Chapter 7 bankruptcy, and Chapter 13 bankruptcy cases in Utah.

Experienced Salt Lake City Bankruptcy Attorney

The Salt Lake City bankruptcy attorneys have experience representing clients in bankruptcy matters, including:

  • Bankruptcy Arbitration
  • Bankruptcy Chapter 7
  • Bankruptcy Chapter 11
  • Bankruptcy Chapter 12
  • Salt Lake City Bankruptcy Chapter 13 Lawyer
  • Bankruptcy Fraud
  • Bankruptcy Litigation
  • Bankruptcy Mediation
  • Business Bankruptcy
  • Consumer Bankruptcy
  • Creditors Rights
  • Debt Relief
  • Determination of Solvency
  • Insolvency
  • Liquidations
  • Loan Workouts
  • Out-of-Court Debt Restructuring
  • Personal Bankruptcy
  • Protection of Assets
  • Reorganization
  • Repossessions
  • Restructuring

Skilled Salt Lake City Bankruptcy Lawyer

Bankruptcy law involves the procedure or legal method by which a debtor is relieved of financial liability for its debts by establishing a court-approved reorganization plan or plan for partial repayment. A bankruptcy proceeding can either be entered into voluntarily by a debtor or initiated by creditors. After a bankruptcy proceeding is filed, creditors generally may not seek to collect their debts outside of the proceeding. The debtor is not allowed to transfer property that has been declared part of the estate subject to proceedings. Furthermore, certain pre-proceeding transfers of property, secured interests, and liens may be delayed or invalidated. Various provisions of the Bankruptcy Code also establish the priority of creditors’ interests.

The Salt Lake City bankruptcy lawyer advisors work to give financially insolvent individuals and debtors of commercial enterprises relief from indebtedness. The Salt Lake City bankruptcy chapter 13 attorneys can assist in a number of insolvency matters, ranging from the preparation of restructuring plans to making arrangements with creditors.

Salt Lake City Bankruptcy Chapter 7 Lawyer

A bankruptcy filing under Chapter 7 is called liquidation. It is the most common type of bankruptcy proceeding. Liquidation involves the appointment of a trustee who collects the non-exempt property of the debtor, sells it and distributes the proceeds to the creditors. Not dischargeable in bankruptcy are alimony and child support, taxes, and fraudulent transactions. Filing a bankruptcy petition automatically suspends all existing legal actions and is often used to forestall foreclosure or imposition of judgment. After 45 or more days a creditor with a debt secured by real or personal property can petition the court to have the “automatic stay” of legal rights removed and a foreclosure to proceed. When the court formally declares a party as a bankrupt, a party cannot file for bankruptcy again for nine years.

Salt Lake City Chapter 11 Bankruptcy Lawyer

Chapter 11 bankruptcy allows an existing Utah business to reorganize and refinance to be able to prevent final insolvency. Often there is no trustee, but a “debtor in possession,” and considerable time to present a plan of reorganization. The final plan often requires creditors to take only a small percentage of the debts owed them or to take payment over a long period of time. Chapter 13 is similar to Chapter 11, but is for individuals to work out payment schedules.

Trusted Salt Lake City Bankruptcy Law Firm

The Salt Lake City bankruptcy attorneys at Magleby Cataxinos & Greenwood have represented clients in virtually all types of distressed financial situations. For experienced representation in a bankruptcy case or for assistance filing for bankruptcy, contact the Salt Lake City bankruptcy lawyers at Magleby Cataxinos & Greenwood in Utah.

Magleby Cataxinos & Greenwood

170 South Main Street
Suite 1100
Salt Lake City, UT 84101
United States

Contact This Firm

Magleby Cataxinos & Greenwood

170 South Main Street
Suite 1100
Salt Lake City, UT 84101
United States

Law Firm Contact: Matthew B. McCune

Tel: 801.359.9000

Fax: 801.359.9011

Email: mccune@mcgiplaw.com

Website: www.mcgiplaw.com

Member Since: 1999

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