Bankruptcy and Stimulus Money
Government Stimulus checks have been sent out in order to counter the significant negative impact on the economy that resulted from COVID-19. It was within the government’s intention to completely and legally protect these checks for those filing bankruptcy but it was forgotten in the rush of passing the Stimulus bill
Bankruptcy after COVID 19 – 5 Things to Know
The people that come out of bankruptcy in the best shape tend to be the ones who got expert advice early. You can get referrals from the National Association of Consumer Bankruptcy Attorneys, and the first meeting is typically free. Bankruptcy after COVID 19 does not mean you should rush to file for bankruptcy since your situation could improve, or things could get much worse. You need to understand that a Chapter 7 Bankruptcy can only be filed once every eight years so you will want to file when you can erase the maximum amount of debt.
Bankruptcy: Can I bounce back?
Sometimes you need the protection of the legal system in this country to get a do over. I find that most people by following some simple principles will thrive after bankruptcy. That is what we do at the Utah Bankruptcy Guy. Its our belief that tomorrow will be a better day and success is in your post bankruptcy future. We will give you the resources to come out of bankruptcy stronger and focused on a brighter tomorrow. Can I bounce back – of course you can!
Will bankruptcy affect my car insurance?
Will bankruptcy affect my car insurance? If you are lucky, the only factor negatively impacting your insurance rates will be your credit score, but depending on which company you use as an insurance provider, the other factors may also cost you more money each month.
How Utah Bankruptcy Online Works
If bankruptcy is in your best interest we will help you come up with a game plan to get your case filed quickly with minimal effort on your part. Since the Utah Bankruptcy Guy team works with thousands of people all over the State of Utah we can help you get the relief you need.
Money Problems and COVID-19
Four weeks ago most people have never uttered the word “coronavirus” or “Covid-19” today it’s used in our everyday language. With half the population either out of work or working from home the economic effect is being felt by everyone, every day in every living room.
COVID-19: Connecting to our Clients
The Law Office of Douglas Barrett, LLC is and will remain dedicated to helping our clients in difficult times. We recognize that with the constantly changing COVID-19 situation around the world, this is an unprecedented time for everyone and many people have concerns about their financial future. Our commitment to continue to help people file… Continue reading COVID-19: Connecting to our Clients
6 Things To Consider Before You File Bankruptcy
Most of the above mistakes can be fixed by simply by timing when you file your case. There are time periods for many types of transfers or actions -- which means the bankruptcy court will examine certain types of transactions only within a certain period of time before you file. By delaying the filing of your bankruptcy until these periods have expired, you may be able to avoid problems. An experienced bankruptcy lawyer can walk you through the process and help you succeed in obtaining a fresh financial start before you file bankruptcy.
Bankruptcy Petition Preparer: Why you should avoid!
Hiring a bankruptcy petition preparer is a really bad idea. It’s also not a cost-effective. Instead, hire an experienced bankruptcy lawyer to guide you through the process.
Life after Bankruptcy: How to Create a Budget
Obtaining credit after bankruptcy is the key to having a credit life - after bankruptcy. Using credit wisely can help you get back on your feet quickly after bankruptcy. So even though you might qualify for a credit card you still need to use the credit you have wisely to create a budget. Make small charges on credit cards and pay the debt off each month. Don’t try and carry a balance from month to month since that may have been what got you into financial trouble before your bankruptcy.
Divorce and Bankruptcy
Money problems tend to impact every area of our lives so it is not a surprise that money problems are consistently listed as a major cause of divorce. Sometimes one spouse accumulates a huge amount of debt on a credit card and the parties simply cannot come up with a way to repay it. Other times medical circumstances of one spouse or a child overwhelm a couples finances and there is simply no way to make payment on the family medical debt.
Bankruptcy Planning
Because of abuses of the bankruptcy system in the past the current Bankruptcy Code is designed to penalize multiple bankruptcy filers. This multiple filing is called “serial filing” in the bankruptcy world. Individuals who are “serial filers” can lose important benefits in their bankruptcy – the most important of which is called the automatic stay – the act of stopping immediately a foreclosure, lawsuits or other collection activity.
What Will Happen After You File for Bankruptcy?
So the natural question you will ask yourself after you file for bankruptcy is now what? This post is to assure you that asking what will happen after you file for bankruptcy is a common and necessary question
Where does bankruptcy debt go?
Where does bankruptcy debt go? To be clear bankruptcy is a legal proceeding one carries out in the US Bankruptcy Courts to allow individuals or businesses to obtain freedom from their debts. It can also simultaneously providing creditors an opportunity for repayment of the debt under a court guided repayment program.
Merry Christmas 2019
To all of you that we have worked with, here’s to a wonderful season filled with warmth and happiness. Clients like yourself are what makes our jobs possible.
Thank you!
How do I access my tax returns?
One of the documents that you will need to give your attorney as you start the bankruptcy process is past years tax returns. So how do I access my tax returns is a common question in the bankruptcy world.
Bankruptcy without going to court
I get asked all the time by potential clients if they can file bankruptcy without going to court. The majority for my clients never see the inside of a bankruptcy courtroom. So if this is a major concern of yours rest assured that the odds are in your favor that you will not need to go into a bankruptcy courtroom
Bankruptcy where you pay back
Chapter 13 bankruptcy where you pay back your debts has a number of benefits including: a lower level of risk to the debtor loosing assets (i.e. home, cars, etc.), ability to catch up missed mortgage and car payments, lower risk level of litigation from creditors, as well as means to pay back creditors in a fair and equitable manner.
Happy Thanksgiving 2019
Here at the Utah Bankruptcy Guy we thank you for the support and confidence that we have been shown by our loyal clients over the years.
Bankruptcy who knows
So bankruptcy who knows? Obviously anyone you owe money to at the time you file will need to be notified. Creditors are notified since payments to them will likely be affected by the bankruptcy proceedings. However other than creditors and your attorney very few other will be notified of you case filing. Even though bankruptcy filings are a matter of public record, they are usually not publicized unless the individual filing is a public figure.
How will bankruptcy affect my mortgage?
A Utah bankruptcy might actually help you to keep your home. Chapter 13 and to some extent Chapter 7 provide ways for you keep your home. Although, you cannot just file for bankruptcy protection and not inform your mortgage lender, you can treat how the loan is treated during a bankruptcy case and there are ways to assure the lender that you will be keeping the home and making the mortgage payment.
Bankruptcy where to file
Bankruptcy where to file? This question could be answered two different ways; hopefully one of which is the answer you are looking for! To begin with, your bankruptcy case will be filed with the federal district court of the location you have lived in for the past 180 days
Who are bankruptcy trustees
If you are looking for information on bankruptcy trustees in Utah you can download my FREE book on filing bankruptcy in Utah to get the up to date list of the Trustee’s and their contact information. If you are looking for an experienced Utah bankruptcy lawyer give us a call to set up a consultation and to learn your bankruptcy options.
Bankruptcy and renting an apartment
If you need to find new housing immediately after the filing of your bankruptcy many landlords will pull a credit report. Your Utah bankruptcy filing will show up on your credit report
Can I file bankruptcy with a pending foreclosure?
If you're behind on your mortgage payments you may have been served a notice of default or are in an active foreclosure, bankruptcy may be a great help. Bankruptcy with a pending foreclosure?
Are bankruptcy notices published?
It’s important to understand that everything filed in a bankruptcy case is a matter of public record (except confidential information, such as a Social Security number). So technically, your bankruptcy filing would be available for viewing by anyone willing to go through the steps to see it. But remember most people wouldn’t bother.
Bankruptcy and my divorce
Bankruptcy and my divorce is something that should be timed and planned if at all possible. First you have to understand that these two distinct legal actions (bankruptcy and divorce) will not take place simultaneously in the same court. Bankruptcy is part of the Federal Court System and divorce is part of a State Court System. You need to understand and your marriage status (including expenses and income) can greatly impact the type and outcome of filing for bankruptcy.
Does bankruptcy show on credit report?
Does bankruptcy show on credit report? The bankruptcy public record will remain in your credit report for up to 10 years from the filing date. Chapter 13 bankruptcy remains for seven years and Chapter 7 remains 10 years. Accounts included in the bankruptcy will have their status updated to show that they are included in the bankruptcy. They will be deleted seven years from the original delinquency date of the account. The accounts usually are deleted before the bankruptcy public record because in most cases they are delinquent prior to bankruptcy being filed.
Where bankruptcy cases are held
There is a bankruptcy court for each judicial district in the country. Every state has one or more of these judicial districts. In Utah there is currently only one judicial district. There are 90 bankruptcy districts across the country. The bankruptcy courts usually have their own clerk's offices like we have here in Utah.
Who invented bankruptcy?
So who invented bankruptcy? Bankruptcy is in the news right now as many retail business and families are struggling in the current economy. Here in Utah the number of cases filed each month is on the rise.
5 Hacks to get money to file bankruptcy
Here a FIVE HACKS to get the money to do your Utah bankruptcy. Fortunately, you probably have more funds available to you than you realize. Past clients have found enough money to pay for their bankruptcy from the following sources:
When is bankruptcy a good idea
Bankruptcy should not be approached casually. After all, it's not a simple, easy cure-all for out-of-control spending. Bankruptcy used in the right way at the right time can save you money, preserve your peace of mind and get you back on your feet financially. So when is bankruptcy a good idea? I ask my clients… Continue reading When is bankruptcy a good idea
Hiring a bankruptcy lawyer is a wise move
When a bankruptcy lawyer takes on a bankruptcy client he or she knows that there are a bunch of good things that they can do for that client. Sometimes, however, I think attorneys forget to tell the client what some of the great things are that they can accomplish
Fear of filing bankruptcy
Fear of filing for bankruptcy. Working with an experience bankruptcy lawyer can help ease your fears. Most bankruptcy lawyers I know offer a free consultation so in and talk to them – they understand fear and can show you way out of the problems you face.
Filing a Utah Chapter 7 bankruptcy
A bankruptcy declaration will affect your credit score sometimes for the worse and at times for the better. If it does damage it, it won’t damage it forever. Furthermore, you may have some control over the process’s ultimate outcome. By taking steps to rebuild your credit score after filing bankruptcy, you could find yourself commanding prime interest rates and securing high-limit credit cards within a few years. You’ll simply need to pay off your remaining obligations in a diligent fashion and avoid taking on too many new loans.
What bankruptcy is best for me
A woman walks in a store to return a pair of eyeglasses that she had purchased for her husband a week before. "What seems to be the problem, madam?" "I'm returning these glasses I bought for my husband. He's still not seeing things my way." When you are considering bankruptcy you are sure to wonder… Continue reading What bankruptcy is best for me
When bankruptcy is a good idea
When bankruptcy is a good idea is actually not dependent on the immediate financial difficulties of today. In order for the bankruptcy court to approve your case they will actually evaluate a snapshot of your finances for the past six months and also consider the foreseeable outlook for your situation in the months to come.
Debt That Can’t Be Forgiven
Obviously getting rid of debt is the reason you are considering bankruptcy. So while a Chapter 7 or Chapter 13 bankruptcy can eliminate a lot of debt, it can't wipe out every kind of debt mainly if you have certain types of unforgivable debt. The types of debt that bankruptcy will not eliminate include:
Consequences of Bankruptcy
Consequences of Bankruptcy. Bankruptcy information on your credit report may make it very difficult to get additional credit shortly after the bankruptcy is discharged — at least until the information cycles off your credit report. It will be important to begin rebuilding your credit right away, making sure you pay all your bills on time. You'll also want to be careful not to fall back into any negative habits that contributed to your debt problems in the first place.
Bankruptcy Discharge Papers
After you have gone through the process of filing for bankruptcy, attending your creditor meeting hearing, and followed all other instructions given to you by your attorney, the trustee, and the court, your case will eventually be discharged and will receive your bankruptcy discharge papers.
Reverse Mortgage and Bankruptcy
Bankruptcy can be a violation of the reserve mortgage agreement so it is vital that you have your attorney look at the agreement to determine if this is the case. There are three important things that you and your attorney should consider before filing the bankruptcy...
The Utah Homestead Exemption
The term "Utah bankruptcy exemptions" refers to assets that you get to keep when you file bankruptcy. In Utah, as a practical matter, most people keep all their assets when they file bankruptcy if they do a reasonable amount of legal pre-bankruptcy planning.
Bankruptcy the best place to start
We understand how overwhelming the process can feel, so another great thing to do is get a head start on gathering all of the paperwork that you will need for your case. For example:
What are the Advantages of Filing Bankruptcy?
Some of these rumors have basis in fact others are overly exaggerated. Yes it is true that declaring bankruptcy can hurt your credit score for a period of time. It’s also true that a bankruptcy declaration is a matter of public record. However, critics of the bankruptcy process tend to overemphasize these negative points. If you’re struggling to repay your bills, none of your debt-fighting options are going to be easy or free from stress. It is true that there are a number of methods of debt relief that might help improve your financial situation over time, it important to always remember there’s no magic switch that you can flip to rebuild your credit.
When declaring bankruptcy is a bad idea
There are times when the negatives simply outweigh the positives of filing for bankruptcy, and no matter how dire your debt may appear, bankruptcy will only exacerbate the problem and then bankruptcy is a bad idea.