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
Category: Utah Bankruptcy Guy
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
Are bankruptcy cases public record
When you file for bankruptcy, your bankruptcy case does become a public record. No matter the type of case Chapter 7 or Chapter 13 it can be part of a public record. However that doesn’t mean that it’s simple, free and easy to get the information for your family and friends to look at whenever… Continue reading Are bankruptcy cases public record
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?
What bankruptcy do I qualify for
What bankruptcy do I qualify for was the question I was asked this morning as I entered an elevator this morning. It seems like a simple enough question that any attorney could easily answer in a moment or two. The problem is that determining who can file for bankruptcy is one of the more complicated… Continue reading What bankruptcy do I qualify for
Can I file bankruptcy with a rental property?
Keeping Rental Property in Chapter 7 Bankruptcy Chapter 7 bankruptcy is commonly called liquidation bankruptcy. Since the appointed bankruptcy trustee has the power to sell your non-exempt assets to pay back your debts and can sell your property to reimburse your creditors. However you are allowed to keep a certain amount of property in Chapter… Continue reading Can I file bankruptcy with a rental property?
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
Bankruptcy when broke
Declare Bankruptcy When Broke Or While You Still Have Cash? Many people think that they should declare bankruptcy when they’re totally broke. Being penniless will actually make the process much, much, harder. While you can certainly declare bankruptcy on your own, many people choose to hire a bankruptcy attorney, which can cost between $1,000 and… Continue reading Bankruptcy when broke