As of November 1, 2018, the Census Bureau Utah Median Income by Family Size have been updated — this happens every 6 months. The Median Income Levels for Utah are up. This is important because the Utah median income number is a determining factor in the type of bankruptcy someone can file. If your income… Continue reading Recent Utah Median Income Number For Bankruptcy
Category: provo bankruptcy
When bankruptcy makes sense
You know when bankruptcy makes sense to you when you won’t be able to be able to pay back your debt within 3-5 years. At this point it can be a good time to consider bankruptcy. This could happen because of a financial catastrophe. It might be due to medical issues or losing your… Continue reading When bankruptcy makes sense
Which bankruptcy is best
So which bankruptcy is best? There really isn’t a right or wrong type of bankruptcy–it all just depends on your circumstances and what would work best for your specific situation. To give you a general idea of which bankruptcy is best you need to understand the different kinds of bankruptcy, here’s a quick summary of… Continue reading Which bankruptcy is best
Over 65 and broke: Don’t feel guilty
Over 65 and broke: Don’t feel guilty. “The number of bankrupt older Americans has surged in recent years, a sign of widespread financial distress and a shrinking social safety net”, according to a research study recently released. In the study of bankruptcy filers it found using data, from the Consumer Bankruptcy Project, more than a… Continue reading Over 65 and broke: Don’t feel guilty
Which bankruptcy is worse
There really isn’t a bankruptcy that is “worse” it all depends completely on your financial situation, your goals and needs. A Chapter 7 Bankruptcy commonly called a liquidation. Chapter 7 allows individuals to give up certain nonexempt assets and walk away from most of the individuals debts. To qualify, debtors must pass the means test… Continue reading Which bankruptcy is worse
Where to get bankruptcy forms
When you file a Chapter 7 bankruptcy or Chapter 13 bankruptcy, your bankruptcy attorney should provide you with all the paperwork required to start the bankruptcy filing process. Your responsibility is provide your attorney with “all the stuff” necessary to file a case, as well as provide them with the necessary documents that are required… Continue reading Where to get bankruptcy forms
How will bankruptcy affect my pending divorce?
Bankruptcy and divorce – both can be sticky situations – combined them and you may have a real mess on your hands. Usually a bankruptcy takes precedence over a divorce. If you file a bankruptcy during a divorce you may delay the distribution of assets and debts until the bankruptcy case is completed. In other… Continue reading How will bankruptcy affect my pending divorce?
Can I file bankruptcy without my spouse?
If one spouse files bankruptcy without the other spouse only the filing spouses debts are discharged. If the debts are held jointly, the non-filing spouse will still owe on the debt even after one spouse has filed bankruptcy. The bankruptcy filing will appear on the filing spouses credit report, but should not appear on the… Continue reading Can I file bankruptcy without my spouse?
Can I file bankruptcy without going to court?
Can a person file bankruptcy without ever going to court? If you file bankruptcy you are required to attend something called the meeting of creditors or Section 341 meeting. This is a proceeding at which the debtor testifies under oath that the information contained in their bankruptcy filing is accurate. In most jurisdictions the 341… Continue reading Can I file bankruptcy without going to court?
Bankruptcy when does it end
Bankruptcy when does it end is a common question. When you get a discharge in a bankruptcy it is a big step, however, it is not the end of the case. The Bankruptcy Court will enter an order closing the case that is when your case is closed. Most of the time the case will… Continue reading Bankruptcy when does it end