Latest Utah Bankruptcy News And Information
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A Judgment Is Not A Lien, But A Lien Can Be Created From a Judgment
A judgment and a lien are not the same thing. A lien is a legal right to get paid from a specific asset/property, as opposed to from an individual person. A judgment is a court order that allows a creditor to pursue collection actions against someone (including creating a lien against assets). Depending on the…
Read MoreIncome Tax Refunds and Utah Bankruptcy
Some people come to see their income tax refunds as a yearly bonus. In reality these refunds are usually caused by a taxpayer having paid too much in taxes during the past year. Sometimes people have even come to rely upon these refunds for planned yearly spending to catch up on bills, go on vacation,…
Read MoreWhy should I file a Preemptive Bankruptcy?
The following are situations in which someone might want to consider bankruptcy as an option when faced with litigation where: • the outcome is not likely to be favorable; • the cost of defense is crippling; • the possibility of a judgment in excess of the Chapter 13 debt limits; or • findings of fraud are likely.…
Read MorePress Release: 2015 Utah Legal Elite
Douglas L. Barrett, for the tenth consecutive year, has been named as one of the “Legal Elite” lawyers in the State of Utah in a recent poll conducted by Utah Business, a state-wide publication. The announcement was made in the March 2015 Legal Resource Guild of the magazine. The “Legal Elite” represent those Utah lawyers who…
Read MoreWHAT IS CHAPTER 13 BANKRUPTCY?
To be eligible to be a Chapter 13 debtor, individuals must meet, among other things, the following two requirements: (i) they must have a regular income, and (ii) their debts must not exceed a certain amount. If the individual’s current monthly income is less than the applicable state median income, the plan will generally be…
Read MoreCAN I RE-PAY A DISCHARGED DEBT AFTER MY BANKRUPTCY CASE HAS BEEN CONCLUDED?
A debtor who has received a discharge may voluntarily repay any discharged debt. A debtor may repay a discharged debt even though it can no longer be legally enforced. Sometimes a debtor agrees to repay a debt because it is owed to a family member or because it represents an obligation to an individual for…
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