Bankruptcy and inheritance in Chapter 13 bankruptcy: If you receive an inheritance while you are in the midst of a Chapter 13 bankruptcy repayment plan, most courts will require that you pay this amount into your Chapter 13 plan. In a Chapter 13 bankruptcy case you propose a plan to repay your creditors over a… Continue reading Bankruptcy and inheritance
Category: utah county bankruptcy
Bankruptcy to avoid judgment
Should you file bankruptcy to avoid judgment being entered against you? Not an uncommon question around here. First of all lets talk about what a judgment is all about: A judgment is the result when you are sued and either don’t respond to the lawsuit or lose the lawsuit. The judge, in finding in favor of… Continue reading Bankruptcy to avoid judgment
Is bankruptcy like stealing
Is bankruptcy like stealing? I have had this question recently ask of me. My response in that is utterly false. Every year, over one million people file for bankruptcy, whether through Chapter 7, Chapter 12 or Chapter 13. These are good people who are in difficult financial situations. While there is always a few bad… Continue reading Is bankruptcy like stealing
Bankruptcy and IRS Form 1099
So I have been getting a bunch of calls from my clients lately about bankruptcy and IRS Form 1099 that they received in the mail. This being tax time and all it’s important to know your rights. If you filed bankruptcy last year make sure you tell your tax preparer about it – especially if… Continue reading Bankruptcy and IRS Form 1099
When bankruptcy is dismissed
There are a number of reasons why a bankruptcy case can be dismissed. Typically, the causes go from intentional misconduct (i.e., fraud and bad acts) to the failure to do something like to file the correct forms with the court or attend a required hearing. Here are some of the most common reasons when bankruptcy… Continue reading When bankruptcy is dismissed
Where are Utah bankruptcy petitions filed
Where are Utah bankruptcy petitions filed is a common question. You need to first understand the two court system we have in the United States. There are state court systems and the federal court system. Bankruptcy and is related laws and rules stem from a clause in the U.S. Constitution making bankruptcy part of the… Continue reading Where are Utah bankruptcy petitions filed
What bankruptcy can I file
In order to determine what bankruptcy can i file for or if you are eligible for bankruptcy, you must take the means test. in 2005 Congress made major changes to the bankruptcy laws via changes to the U.S. Bankruptcy Code. One of the new changes was something called the “Means Test”. The means test will… Continue reading What bankruptcy can I file
Stop debt collector calls
One of the most common reasons people decide to file for bankruptcy is to stop debt collector calls. by filing bankruptcy you can immediately stop debt collector calls. Any collector that still attempts to collect on a debt once they know about your bankruptcy is in violation of 11 U.S.C. Sec 362. Bankruptcy is a… Continue reading Stop debt collector calls
Bankruptcy who knows
In my experience most people don’t want others to know about their financial issues and challenges. This certainly goes for bankruptcy. So I get this question all the time if I file for bankruptcy who knows ? Your lawyer, your creditors, you, and whoever else you decide to tell. Bankruptcy is a public record and… Continue reading Bankruptcy who knows
Bankruptcy discharge vs closed
Bankruptcy discharge is when the debtor is released from liability to pay his or her debts and no longer required to pay any debts that are discharged, and it also prohibits creditors from coming to collect your debt. Getting a bankruptcy discharge is a big step in a bankruptcy case but it’s not the end… Continue reading Bankruptcy discharge vs closed