Insolvency is a process where an individual or a company is able pay some or all of their debts under the protection of a special court otherwise known as the federal bankruptcy court through the help of business bankruptcy attorney Salt Lake City service. In most cases, bankruptcies can be divided into either liquidation or reorganization. Liquidation is where the insolvency trustee takes some property away from a company or individual possession to pay back some debts. Reorganization category applies mostly to consumers where the arrangement is to keep the property by the consumer is to make monthly payments over a certain period until the debts are cleared.