Utah Bankruptcy Terms
Learn Important Utah Personal Bankruptcy Information (Definitions) The following are common Utah bankruptcy terms used on this site regarding personal bankruptcy:
Process To File Bankruptcy In Utah: Chapter 7
Process To File Bankruptcy In Utah Step 1 – Making the Decision to File for Chapter 7 The first step in the process to file bankruptcy in Utah is to consult with an experienced bankruptcy lawyer to increase the advantages of filing for bankruptcy. While bankruptcy isn’t the best solution in every situation, when […]
File Bankruptcy Online in Utah
File Bankruptcy Online in Utah Simply and Conveniently We know that the issues causing you to consider bankruptcy are very difficult and stressful. That’s why we’ve developed a system that makes the process as simple and convenient as possible. You’ll notice the difference with our convenient fully complete online process, you can receive the help […]
Utah Bankruptcy Myths
Get Accurate Utah Bankruptcy Information Utah Debunking Bankruptcy Myths There are many misconceptions circulating about bankruptcy information that affect a person’s decision on whether they should declare bankruptcy. When considering bankruptcy, it is best to get accurate information on bankruptcy from a professional who has the legal expertise to answer all of your questions. We […]
Personal Bankruptcy Information in Utah
Utah Personal Bankruptcy Information (Definitions) Learn about Important… The following are common terms used on this site regarding personal bankruptcy information in Utah: Assets Any property that a business or individual owns. Automatic Stay This injunction stops the creditor from attempting to collect from the debtor. An automatic stay takes effect immediately after the debtor […]
Utah Bankruptcy Means Test
What Is the Bankruptcy Means Test? Utah Means test for Chapter 7 Bankruptcy The Utah Bankruptcy Means Test is an income test to determine if the debtor or debtors qualify to file chapter 7 bankruptcy.To determine whether a debtor is not abusing the bankruptcy system, the debtor must meet the Utah chapter 7 bankruptcy means […]
Bankruptcy FAQs
Bankruptcy Frequently Asked Questions A decision to file for bankruptcy should only be made after determining that bankruptcy is the best way to deal with your financial problems. This article provides an overview of commonly asked questions, but it simply can not explain every aspect of the bankruptcy process. If you still have questions after reading it, […]
Life After Bankruptcy in Utah
Life After Bankruptcy in Utah Will I Be Able to Get a Loan after Bankruptcy in Utah? What is Life after bankruptcy in Utah like? One of the most common questions when contemplating whether to file bankruptcy is: will I be successful in getting a loan after bankruptcy? This is particularly true if you desire […]
Use Tax Refund to pay for Bankruptcy
Every year around tax season our clients ask us how bankruptcy will impact the tax refund they are expecting. Some of the questions posed include: Can I spend my tax refund before filing? Can I use my tax refund to pay for the costs of bankruptcy? Should I file bankruptcy before receiving my tax refund? […]
What To Expect At Your 341 Meeting
What To Expect at Your 341 Meeting in Utah 341 Meeting Instructions Your section 341 meeting of creditors is approaching, so to help ensure a smooth meeting this video will provide you with instructions relating to that meeting. We’ll cover several things: first, who’s involved; second, what to wear; third, what to bring with you; […]
Rental Property in Bankruptcy
What Happens to Rental Property in Bankruptcy One of the most important concerns many of our clients have is how bankruptcy will impact their lease on an apartment of home. This concern arises in one of two scenarios: (1) the client-debtor has arrearages and is filing bankruptcy, at least in part, to avoid paying the […]
Buy A Home After Bankruptcy
When Can I Buy A Home After Bankruptcy and Foreclosure? I was speaking with a friend the other day who about a year ago short sold a home following a job loss and related struggles. She had a short-sale and wanted to know when she could buy a home after bankruptcy and foreclosure or a […]
My Property in Bankruptcy
One of most frequently asked questions I get asked is whether the debtor will lose all their property if they file for bankruptcy. It makes sense that so many people are confused as to how bankruptcy affects their property. After all, there are numerous sites on the internet that are written by the ill-informed or […]
Filing Bankruptcy In Utah – Do I qualify for Bankruptcy?
Filing Bankruptcy in Utah Do I qualify for Bankruptcy? The question is not whether you “qualify” for filing bankruptcy in Utah. Instead, the question is “Do I need to file for bankruptcy” or “Should I file for Bankruptcy”? Everyone qualifies for bankruptcy (Chapter 7, Chapter 11, Chapter 13, etc.), but not everyone needs to file. […]
What Happens After You File Chapter 13?
Once a chapter 13 bankruptcy case is filed, the automatic stay prevents creditors from legally foreclosing, garnishing, repossessing or collecting against the debtor or any individual joint debtors. As part of the chapter 13 filing, the debtor proposes a chapter 13 plan (“Plan”) to reorganize their finances. The Plan will contain provisions to deal with […]
Preventing Foreclsoure
Will Filing Bankruptcy Stop Foreclosure Your lender has started foreclosure. What should you do? What are your options? Will bankruptcy stop foreclosure? How can I bring my mortgage current? These are common questions facing those who find themselves in foreclosure. This article answers these questions and outlines some options.
Can I File Bankruptcy Without My Spouse?
Frequently clients need to file for bankruptcy, but want to do so without his or her spouse being affected. That raises the questions: Can a married person file bankruptcy alone? How is the non-filing spouse impacted when their spouse files bankruptcy alone?
Does Filing for Bankruptcy Mean You’re Dishonest or Unethical?
One of the most common concerns or misconceptions that clients express in one form or another is an insecurity that if they file bankruptcy that makes them somehow unethical or dishonest. While there may be a small minority of people who intentionally abuse the bankruptcy system, it is my overwhelming experience that people filing bankruptcy […]
What is Chapter 13 “Cram-down”?
Chapter 13 bankruptcy in Utah County is a consolidation of debt and a partial repayment over a period of three to five years, based on the debtor’s ability to pay. Sections 1322 and 506 of the bankruptcy code permits bankruptcy courts to reduce the balance or “cram-down” unsecured debt. This essentially converts property that is […]
Should I Sign A Reaffirmation Agreement?
A reaffirmation agreement is an agreement by which the debtor agrees to remain personally liable for a debt post-bankruptcy. A reaffirmation agreement essentially eliminates the benefit of filing for bankruptcy in Salt Lake or one specific debt. Because reaffirming a debt undermines the most basic benefit of filing for bankruptcy in Salt Lake, you should […]
