If your business is organized as a corporation or a limited liability company (LLC), your personal assets are usually protected from business creditors –unless you specifically gave up your so-called “limited liability” protection. Unfortunately, you may have done so if the bank or other creditor required a personal guarantee and/or personal security before loaning you… Continue reading Bankruptcy for LLC
Category: provo bankruptcy
Why bankruptcy is bad
Filing for bankruptcy may have a bad reputation for several reasons. Years ago I had an old friend stop by my law office and tell me all the reasons why he thought that bankruptcy was wrong. He pontificated that it was merely a way to cheat creditors out of money and he knew of so-and-so… Continue reading Why bankruptcy is bad
Bankruptcy for medical debt
Medical debts are one of the most common reasons that people need to seek bankruptcy relief. With out of control medical costs and increased insurance premiums more and more people are forced into financial ruin with just a day or two stay in hospital. With passage of the Affordable Heath Care Act it was assumed… Continue reading Bankruptcy for medical debt
Are bankruptcy records public
Yes bankruptcy records are available to the public. There is website where bankruptcy records are posted as they occur called Public Access to Court Records or PACER. They will most likely just be looked up by attorney’s however, because on the PACER website it costs money to review each page and to open an account… Continue reading Are bankruptcy records public
Bankruptcy to keep house
Keeping assets during a bankruptcy is dependent on how much you owe for them, how much they are worth, and also the type of bankruptcy you are planning to file for bankruptcy to keep house. The most common bankruptcy is a Chapter 7, and generally people file for this kind of bankruptcy because they do… Continue reading Bankruptcy to keep house
Bankruptcy filings spike in Utah
Bankruptcy filings increased in October after declines in September, with Utah having one of the highest per capita filing rates last month. According to an article by ACI International: “Total U.S. bankruptcy filings increased 2 percent to 64,579 in October 2017 compared to 63,802 in October 2016, according to a news release from the ABI… Continue reading Bankruptcy filings spike in Utah
What bankruptcy wont cover
If you are considering bankruptcy you are most likely look at all your options – that’s smart. It seems to easy to find out the pros of bankruptcy like what a bankruptcy will cover but what won’t cover is the next logical question. What bankruptcy wont cover are nondischargeable debts. In the world of bankruptcy… Continue reading What bankruptcy wont cover
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