Financial problems can be deeply disturbing and extremely stressful. You should not feel alone or embarrassed about considering bankruptcy. It is only natural that you would prefer to pay your bills, but bankruptcy may be your best option if you are not able to pay all of your debt.

The firm also handles family law matters including various types of divorces, from uncontested "friendly" divorces to very serious divorce matters requiring parental right terminations.

If you or someone you know needs legal counsel or the assistance of an experienced Utah bankruptcy or family lawyer, contact Pearson, Butler, Carson & Cook, PLLC today at 801-200-3804 or 866-284-8042, or use the contact form provided on this site to arrange for your free initial consultation.

The firm provides services across Utah, including Davis County, Morgan County, Salt Lake County, Summit County, Tooele County, Utah County, Uintah County, Weber County, Wasatch County and Washington County. Our services extend to Salt Lake City (SLC), South Jordan, Riverton, Lehi, Herriman, West Jordan, West Valley, Taylorsville, Sandy, Draper, Murray, Ogden, Tooele, Bountiful, Midvale, Layton, Orem, Provo, Park City, Springville, Spanish Fork, Heber, Saratoga Springs, St. George, and Fort Union.

"We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code."

Practice Areas and Legal Definitions

Every year, more than 1,000,000 Americans file for protection under federal bankruptcy laws. Although some bankruptcy claimants are deemed as credit abusers and/or considered financially irresponsible, many hardworking individuals and businesses can succumb to financial difficulty, and face irreparable economic crisis. Bankruptcy is designed as a legal option to help resolve such a crisis, and act as a financial life preserver for those drowning in debt. To discuss your bankruptcy options, or other areas of recourse that might be available to you, contact a qualified bankruptcy attorney who can advise you of your legal rights as stated under bankruptcy law and federal bankruptcy courts.

Bankruptcy Laws:
Bankruptcy is a federal court process designed to help individuals and businesses eliminate their debts or repay them under the protection of the bankruptcy court. Bankruptcies can generally be described as liquidation or reorganization. Under a liquidation bankruptcy (Chapter 7), a debtor files to eliminate debt through the bankruptcy court. Under a reorganization bankruptcy (Chapter 13), a debtor files a plan with the bankruptcy court proposing how to repay creditors.

In 2005, the requirements under which a debtor could file Chapter 7 bankruptcy changed with the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act.  Debtors are now required to seek budget and credit counseling within six months of filing.  Financial “testing” is required to determine the debtor’s capacity for debt repayment.  Chapter 7 cannot be filed if the household income is greater than the median household income as deemed by the state, and state exemptions cannot be applied unless the debtor has resided at current residence for over two years.

Due to the imposed requirements for Chapter 7 bankruptcy as set forth by the new laws, debtors who were eligible to file under Chapter 7 may now have to file under Chapter 13 bankruptcy instead, in which individuals and creditors agree to a court-imposed plan that requires some or all debts be repaid over five years, with an appointed trustee assigned to monitor the repayment process. Bankruptcy filings will continue to be recorded on an individual’s credit report for seven years in the case of Chapter 13, and up to ten years for Chapter 7.

Chapter 7:
Chapter 7 cases are commonly referred to as straight bankruptcy or liquidation cases, and may be filed by an individual, corporation, or a partnership. A Chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in Chapter 13. Instead, the bankruptcy trustee gathers and sells the debtor's nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code. Part of the debtor's property may be subject to liens and mortgages that pledge the property to other creditors. In addition, the Bankruptcy Code will allow the debtor to keep certain "exempt" property; but a trustee will liquidate the debtor's remaining assets. Accordingly, potential debtors should realize that the filing of a petition under Chapter 7 may result in the loss of property.

Chapter 13:
A Chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years. Chapter 13 permits individuals to keep their property by repaying creditors out of their future income.  It is not available to corporations or partnerships. After completion of payments under the plan, Chapter 13 debtors receive a discharge of most debts.

Foreclosure:
Foreclosure is the legal proceeding in which a bank or other secured creditor sells or repossesses a parcel of real property (immovable property) due to the owner's failure to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, it is typically said that "the lender has foreclosed its mortgage or lien".

A Foreclosure by Sale ends in the posting of a sign advertising the auction of your home on the sale date. The only ways to stop a foreclosure are full payment of the arrearage, or the filing of a Chapter 13 bankruptcy. Full Payment: If you are able to obtain and tender the full amount of your arrearage, including fees and costs, you can stop the foreclosure of a standard residential mortgage. Most people lack the money to make full payment. This process stops the foreclosure and allows you to repay your arrearage over a three-to-five year period. The arrearage is paid through a court-appointed official, while you resume your regular monthly payments to the bank in order to keep your home. A Chapter 13 can be filed at any time prior to the law day or sale date, and it is often the only avenue to save your home.

Debt Consolidation:
Contrary to popular belief, debt consolidation is not a loan. Debt consolidation is a process in which debt is restructured into one low monthly payment. It further enables a consumer to reduce the amount owed and thereby eliminate interest. Very often a consumer can detect warning signs of being in too much debt long before any collection notices are received. If more than two of the following signs apply to you, you are probably in too much debt:

• You have begun charging to your credit card essential expenses like food and daily expenditures
• You are making only the minimum payments on your credit cards each month
• You are near the limit of your credit cards
• You have too many credit cards
• You are unsure how much money you owe creditors

Chapter 11:
Chapter 11 is typically used for business bankruptcies and restructuring. It is not commonly used by individual consumers since it is far more complex and expensive to pursue. It allows businesses to reorganize themselves, giving them an opportunity to restructure debt and get out from under certain burdensome leases and contracts. Typically a business is allowed to continue to operate while it is in Chapter 11, although it does so under the supervision of the Bankruptcy Court and its appointees.

If you or someone you know needs debt consolidation legal counsel or the assistance of an experienced South Jordan, Utah bankruptcy attorney, contact  Pearson, Butler, Carson & Cook, PLLC  today at 801-200-3804 or 866-284-8042, or use the contact form provided on this site to arrange for your free initial consultation.

.Professional Profile

If you or someone you know needs the assistance of an experienced South Jordan, Utah bankruptcy lawyer, call Pearson, Butler, Carson, & Cook, PLLC today at 801-200-3804 or 866-284-8042, or complete the contact form provided on this site to schedule your free consultation.

ADDRESS OF THE FIRM:
Pearson, Butler, Carson, & Cook, PLLC
1682 Reunion Avenue, Suite 100
South Jordan, UT 84095
Phone: 801-200-3804
Toll Free: 866-284-8042
Hours: M-F, 8:00AM-5:00PM

MEMBERS OF THE FIRM:

Attorney Carson Pearson

In 2001 Mr. Pearson formed his own consulting firm, where he worked with several firms, specializing in the needs of the affluent.  He has developed numerous successful national marketing campaigns to high net worth individuals for a wide variety of services.  He has spent several years working in tax and estate planning for small business owners and their families.  His work requires him to be knowledgeable in regards to qualified plans, charitable structures, entity structuring, trusts, corporate finance, asset protection, insurance concepts, investments and estate planning. 

Mr. Pearson is also a co-founder of a real estate investment company as well as a Home Health Care company.  Mr. Pearson oversaw the growth of the Home health Care Company from 2004 until its sale in 2008. Mr. Pearson has extensive experience in operations, start-up, and financing of these and other opportunities.  In addition to these opportunities he has consulted with several small business ventures on operations, sales, marketing, and human resources to increase their profitability or gain profitability. Mr. Pearson has also been an executive producer of the BrideAccess.com television show for the past two years.  Currently Mr. Pearson spends the majority of his time as practicing as a managing partner in the law firm of Pearson & Butler, PLLC.

He received his BS degree in Communications from the University of Utah where he was a member of Phi Beta Kappa, Golden Key National Honor Society and on the Deans list 11 consecutive quarters.  He received his Juris Doctorate from the J. Reuben Clark school of Law at Brigham Young University.  Mr. Pearson is a member of the Utah State Bar and routinely provides pro-bono work to the community.  Mr. Pearson is fluent in Spanish and spent two years doing volunteer work in Guatemala.

Attorney Jeff Butler

Prior to partnering with Carson Pearson, Jeff Butler worked as corporate in-house counsel for companies in Utah and California.  He has experience with real estate law, mortgage law, business law, and healthcare law.  He also has also extensive healthcare administration experience.

Mr. Butler has met with hundreds of home owners in Utah struggling to make their mortgage payments or facing foreclosure.  He is licensed as a member of the Utah State Bar and California State Bar.  He also is licensed as a Principal Lending Manager through Utah's Division of Real Estate.  Mr. Butler is an active member of the National Association of Consumer Bankruptcy Attorneys.

Mr. Butler grew up in Utah and California.  He graduated from Brigham Young University where he graduated with University Honor Program.  He attended the J. Reuben Clark Law School at Brigham Young University while also pursuing a master degree from the Romney Institute of Public Management.  During law school, he externed for two federal judges, the Honorable Judge Benson and the Honorable Judge Green