Tag: chapter 7

Cosigners and Bankruptcy

The idea that Shakespeare is illustrating in Hamlet relates very closely to the modern day concept of being a cosigner to someone else debt. Ever wonder what happens if the guy you cosigned with filed bankruptcy? How does cosigners and bankruptcy work? Let the Utah Bankruptcy Guy explain:

Why file bankruptcy Chapter 7

The Supreme Court has said that “[t]he principal purpose of the Bankruptcy Code is to grant a fresh start to the honest but unfortunate debtor.” The filing of a Chapter 7 bankruptcy puts a stop to most attacks on, and efforts to collect from the debtor. It is also the fastest, simplest and most common type of bankruptcy.

Utah Debt Lawyer

Excessive debt causes problems. Excessive debt causes stress. Excessive debt is one on the main causes of divorce. Excessive debt can be dealt with. A Utah debt lawyer can help you deal with your debts. The Utah Bankruptcy Guy team deals with excessive debt every day using federal laws to help you get your life back. Using bankruptcy the team at the Utah Bankruptcy Guy has helped thousands of Utah families eliminate excessive debt

What is a bankruptcy trustee

When a Chapter 7 bankruptcy petition is filed in Utah, two trustees are appointed, the U.S. Trustee and the Chapter 7 Trustee. The Utah Chapter 7 Trustee’s purpose is to administer the case and liquidate the debtor’s nonexempt assets. If all the debtor’s assets are somehow protected or are subject to valid liens, the trustee… Continue reading What is a bankruptcy trustee

Which bankruptcy is best

So which bankruptcy is best?  There really isn’t a right or wrong type of bankruptcy–it all just depends on your circumstances and what would work best for your specific situation. To give you a general idea of which bankruptcy is best you need to understand the different kinds of bankruptcy, here’s a quick summary of… Continue reading Which bankruptcy is best

Where are bankruptcy proceedings held

Are bankruptcy proceedings held in federal courts?  In Utah those courts are located in Salt Lake City and in Saint George, Utah.  The clerk of the bankruptcy court is located at the court in Salt Lake at 350 South Main Street, Salt Lake City in the Moss Courthouse on the Third Floor. Bankruptcy is part… Continue reading Where are bankruptcy proceedings held

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

How bankruptcy affects you

When you file for a bankruptcy, your life can be affected in several ways. It can affect you both positively and negatively in some ways. Some of the positive effects of bankruptcy are that your debts will be under control and you can get instant relief from creditors, collecting agencies, and the debts that are… Continue reading How bankruptcy affects you

Filing bankruptcy versus foreclosure

These two options are not mutually exclusive as some think.  If you are facing one of them you may be facing the other as well.  Since filing for bankruptcy will eliminate some if not all of your debts,  you can decide to file bankruptcy before a foreclosure on property the debt most likely will be… Continue reading Filing bankruptcy versus foreclosure