bankruptcy and crypto

Even though crypto isn’t directly mentioned in the current bankruptcy laws, bankruptcy laws still apply to crypto. Transferring any asset to hide it from creditors is still a fraudulent transfer. Liquidating crypto to pay one creditor to the detriment of the other creditors may still be a preference.

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utah court help

The quickest way to stop a garnishment is to just pay off the debt. However, most people cannot afford to do that, or they would have already done it before the garnishment happened.  For most people the most effective way to stop the garnishment is to file bankruptcy

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wage garnishment

You need to understand that when employer gets that wage garnishment order, by law they must begin withholding 25% of your take-home pay right away. The papers say there is a period of time before a response is due but that just means your employer has to keep the money collected until they get an order telling them where to send the money.

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Learn the facts from the Utah Bankruptcy Guy and avoid the myths out there about bankruptcy.  During the past year, the team here at the office keep t a list of the most common misconceptions floating around Utah about bankruptcy.  In no particular order here we go:

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filing a chapter 7

In a nutshell you file a Chapter 7 case by submitting a petition in which you disclose all your assets, debts, income and expenses to the court. The documents are reviewed by a series of Trustee’s and at the end of the proceeding, the bankruptcy court issues an order of discharge, and you are no longer liable for applicable debts.

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small business bk options

Utah small business bankruptcy is considerably more complex than consumer (personal) bankruptcy. Be careful do not accept the “one-size-fits-all” approach most bankruptcy firms employ.  Look for a law firm that will sit down with you discuss whether a Utah small business bankruptcy is your best option.  Work with an attorney that is will to suggest non-bankruptcy options as well as bankruptcy option

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bankruptcy exemptions in utah

The U.S Bankruptcy Code provides numerous exemptions that allow people filing bankruptcy to shield and keep the property they own. But some states do not use the federal law to protect property in bankruptcy they use the law of the state where the case if filed.  These laws are called exemption laws. 

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