New Chapter 13 Bankruptcy Plan

Chapter 13 bankruptcy is the type of bankruptcy that allows for a reorganization of debts.  Chapter 13 can be a very useful tool to allow a debtor the opportunity to keep a home through bankruptcy even if they are behind on their mortgage payments at the time they file bankruptcy.  Many times this is not… Continue reading New Chapter 13 Bankruptcy Plan

Who do bankruptcy laws protect

In my law practice I have represented debtors and creditors and for a time even worked for the bankruptcy courts.  I think I have a good idea of all the different parties in the process and where they are coming from generally.  In bankruptcy it is my observation that each side thinks the laws are… Continue reading Who do bankruptcy laws protect

Bankruptcy for corporations

When filing for bankruptcy for a corporation there are a few options of the proper kinds of bankruptcy.  The following is merely an quick overview and we suggest you seek out an experienced bankruptcy lawyer.  In Utah that would be us! A Chapter 7 bankruptcy will be able to provide an orderly liquidation of the… Continue reading Bankruptcy for corporations

Bankruptcy to get out of debt

Bankruptcy wipes out some debts but it doesn’t wipe out all debts.  When you are looking into bankruptcy you will want to know what kind of debts you have and what kinds of debts will and won’t be eliminated by bankruptcy. Some of the debts that a bankruptcy will be able to eliminate are credit… Continue reading Bankruptcy to get out of debt

Bankruptcy to stop lawsuit

Filing for bankruptcy will stop a civil lawsuit at least in the short term . The automatic stay is what will prohibit people from collecting from you and you will be protected from a judgment being entered in the lawsuit until a creditor takes the necessary steps to get a court order allowing them to… Continue reading Bankruptcy to stop lawsuit

When bankruptcy is the only option

There are a several signs that indicate bankruptcy is probably your best or only financial option. These include when you actually have income but not enough income to pay for your basic need so you start to use a credit card to pay for your basic needs.  Since you cant pay your basic needs you… Continue reading When bankruptcy is the only option

Why bankruptcy law

You may ask yourself about the purpose of bankruptcy law and why there is such thing as a bankruptcy process. Could it give people an incentive to not pay their debts back or to accumulate large amounts of debt only to have it discharged by a bankruptcy?  I guess some people think this way but… Continue reading Why bankruptcy law

Why bankruptcy happens

Bankruptcy happens as a result of being insolvent, or unable to pay back your debts. Bankruptcy is a legal status that lasts for a few month to several years depending on the kind of bankruptcy you pursue.  It is an alternative to get rid of debts that you are unable to pay by yourself. It… Continue reading Why bankruptcy happens

Bankruptcy with divorce

Whether you should file a bankruptcy before or after your divorce depends upon your debts, properties, where you are living and a web of other issues. When considering bankruptcy with divorce you will want to consider all options to know if you should get divorced first or file for file a bankruptcy first, that way… Continue reading Bankruptcy with divorce

Bankruptcy to clear all debt

Had someone send me a question about a bankruptcy to clear all debt.  What they were talking about was filing for Chapter 7 bankruptcy.  A Chapter 7 bankruptcy is designed to wipe out most if not all of your unsecured debts (debts that are not somehow tied to property).  Where a Chapter 13 bankruptcy can… Continue reading Bankruptcy to clear all debt