Restructure Your Debts Into One Low Monthly Payment

Debt consolidation is a way for people to reorganize their overwhelming debts into one affordable payment. At the Law Office of Davis & Jones, P.C., our attorneys create favorable consolidations that relieve clients from burdensome debts and allow them to get payments that fit within their budgets. Our Taylorsville law firm helps people throughout eastern Utah, including Salt Lake, Tooele, Utah, Summit, Davis and Uintah counties.

What Is A Debt Consolidation?

A debt consolidation is not a loan but rather the process of restructuring a debt to be repaid over three to five years. To file for a consolidation, a debtor must have a consistent source of income. A debtor's income and their amount of debt will determine their owed monthly payment. A debt consolidation can cut the total amount of debt owed, which in turn eliminates additional interest.

In a debt consolidation, the courts organize a person's debts into three categories:

  • Secured debts: Debts with collateral such as a car loan or mortgage
  • Priority debts: Debts designated by the bankruptcy code as a high-priority debt payment, including some tax debts, spousal support and child support payments
  • Nonpriority debts: Payday loans, credit cards, medical debts and other debts without collateral

A debt consolidation will pay secured and priority debts first. For unsecured debts, a debtor only has to pay back what their budget will allow. A debtor may have their remaining debts eliminated after the debt consolidation repayment plan is complete.

Personalized Debt Consolidation Counsel

Our attorneys can review your unique situation in a free consultation and then give you an individualized plan for getting out of debt. We restructure and consolidate our clients' debts with Chapter 13 bankruptcy filings and guide them through the entire process. Our attorneys will create a realistic repayment plan that fits your lifestyle, based on your income, debts and assets.

Talk To Our Experienced Lawyers Now

We will check your case details and answer your questions in a free consultation. Schedule your free consultation at our law firm by calling 801-639-9744 or using the contact form.

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