Can I have too much debt to file for bankruptcy?

This is a common question here at the office: Is there a certain amount of debt that somebody needs to have before they can file a Utah bankruptcy. The answer is that there is no minimum amount of debt that is required to file for bankruptcy protection.  Sometimes you can actually have too much debt to… Continue reading Can I have too much debt to file for bankruptcy?

If I'm married do I have to file bankruptcy with my spouse?

No, the United States Bankruptcy code does not require married couples to file together. However, in most of the cases I see, both spouses usually choose to file together. But there are exceptions, such as recent newlyweds, sometimes only one spouse files thereby preserving the credit standing of the other, non-filing spouse. You do need to… Continue reading If I'm married do I have to file bankruptcy with my spouse?

WHAT 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… Continue reading WHAT IS CHAPTER 13 BANKRUPTCY?