Discharge: Utah Bankruptcy

It’s important to note that the Utah bankruptcy discharge is not automatic and there are specific requirements that must be met in order to obtain it.

Benefits of Bankruptcy

While filing for bankruptcy will initially have a negative impact on a person’s credit score, it will also signal to creditors that the individual is taking steps to address their financial problems and regain control of their finances.

How do you get a bankruptcy discharge?

Unless there is litigation involving objections to the bankruptcy discharge, the debtor will usually automatically receive a discharge. The Federal Rules of Bankruptcy Procedure provide for the clerk of the bankruptcy court to send via US mail a copy of the order of discharge to all creditors, the U.S. trustee, the trustee in the case,… Continue reading How do you get a bankruptcy discharge?

What to know: Filing For Chapter 7 Bankruptcy?

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.

Utah Small Business Bankruptcy

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

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.

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

Chapter 13 Bankruptcy: How Long Does It Take?

One of the common questions people ask us is how long does it take to complete a Chapter 13 cases. As I have written about other types of bankruptcy such as Chapter 7 cases take a matter of months in most cases however Chapter 13 cases can take from 3-5 years to complete. Here is… Continue reading Chapter 13 Bankruptcy: How Long Does It Take?

Bankruptcy discharge vs dismissal

  May people confuse the difference between a bankruptcy discharge vs dismissal but they are two very different and distinct outcomes of bankruptcy. A bankruptcy discharge means that the requirements set out by the court have been met by the debtor(s) (the party filing the bankruptcy). In a Chapter 13 bankruptcy a discharge means that… Continue reading Bankruptcy discharge vs dismissal

What not to do before bankruptcy

7 Deadly Sins Before Bankruptcy OK I know that sounds a bit dramatic – but it got your attention.  I am asked all the time what not to do before bankruptcy.  So here is my list of seven things that have the potential to get you into trouble prior to your case filing: 1.Don’t make… Continue reading What not to do before bankruptcy