Utah Bankruptcy

Find the best information on Utah Bankrtupcy and what you can do to plan out your strategic bankruptcy.

Bankruptcy | Wex Legal Dictionary / Encyclopedia | LII / Legal Information Institute

OverviewBankruptcy [wex:law] provides for the reduction or elimination of certain [wex:debt|debts], and can provide a timeline for the repayment of [wex:nondischargeable debts] over time.  It also pe

What happens to my GreenSky/Mac Credit/Mac Tools account when I file bankruptcy?

It depends on what you want to happen. If you want to keep the financed tools, then you keep them and keep paying on them.  If you want to surrender the tools and wipe out the debt, then you can give

How do I start my own IRA or 401k? Or how do I start saving money for retirement if I am self-employed or if my employer doesn’t have a 401k? (Acorns)

It’s tough. First off, let me put this out there:  I am a bankruptcy attorney, not a financial advisor.  This is not legal advice, investment advice, and may not even be good advice. Short answer:

Do people ever read your bankruptcy blog? (100,000 views!!!)

I ask myself this question more than I actually hear it from clients, so I think it’s more of a crazy- person-talking-to-himself-internal-monologue kind of question. So to answer that internal voice

What are the median income figures for bankruptcy in Utah (April 2018)?

Basically, if you are over, then you are a chapter 13.  If you are under, then you are a chapter 7.     Now remember that these numbers can be adjusted by child support payments (received or made)

What happens if you are in a car accident before repossession (or have a damaged car that is repossessed)?

Generally, you wipe out the debt. Every week or so I look at the “insights” on my blog to see what searches people run.  Here is today’s entry:     If you look at the searches, you can see t

How do I file my Utah State Individual Income Tax Return for previous years or past due returns (like 2008 when I never filed)?

I am not an accountant and I don’t do taxes!  So take this with a grain of salt.  This is just what one of my clients did recently with the Utah State Tax Commission (“USTC”).     We are si

What happens to my tools from Snap-On Credit when I file bankruptcy?

You lose them unless you keep paying for them.   When we file a chapter 7 bankruptcy, you list secured items (like your home or car or tools) and then list the secured creditor.  If you want to kee

Is my ex-wife/husband going to find out that I filed bankruptcy?

There’s a pretty good chance that they will.   When you file bankruptcy, you are required to list any person to whom you pay child support/alimony (what we call a “Domestic Support Obligation”

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

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 instructio

What Happens to Rental Property in Bankruptcy

The post What Happens to Rental Property in Bankruptcy appeared first on UtahBankruptcyAttorneys.net.

When Can I 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-sa

Should I Sign A Reaffirmation Agreement

What Is 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 essentiall

Why Is Bankruptcy A Constitutional Principle?

Ever wondered why is bankruptcy a Constitutional Principle? The United States constitution has only 4,400 words. It is the oldest and shortest written Constitution of any major government in the world

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. A

What Is a Section 341 Meeting of Creditors?

Many of our clients are initially somewhat concerned about the meeting of creditors.  The meeting of creditors need not cause substantial concern. Frequently after the meeting our clients will commen

Are Federal or State Taxes Dischargeable in Bankruptcy?

One of the most frequently asked questions that we hear in our Utah bankruptcy practice is whether taxes can be discharged in bankruptcy. The answer to such a seemingly simple question is actually qui

Increases to Utah Bankruptcy Exemptions

Keep More Property in Bankruptcy The Utah legislature amended the Utah bankruptcy exemptions  in 2013.  Bankruptcy exemptions are the laws that protect property from liquidation in bankruptcy.  Sin


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