filing a chapter 7

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.

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small business bk options

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

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bankruptcy 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.

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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…

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  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…

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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…

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Bankruptcy discharge is when the debtor is released from liability to pay his or her debts and no longer required to pay any debts that are discharged, and it also prohibits creditors from coming to collect your debt. Getting a bankruptcy discharge is a big step in a bankruptcy case but it’s not the end…

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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…

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Medical debts are one of the most common reasons that people need to seek bankruptcy relief.  With out of control medical costs and increased insurance premiums more and more people are forced into financial ruin with just a day or two stay in hospital.  With passage of the Affordable Heath Care Act it was assumed…

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