How much do attorneys charge for a bankruptcy? In Utah, your attorney costs are usually between $800 and $1500 depending on the complexity and issues in your particular case. Some of the factors to think about are back taxes owed, whether you will have a means test issue, significant assets that were conveyed, the number of reaffirmations etc. Free Bankruptcy Advice or Consultation? Arnold, Wadsworth & Coggins Read More
Utah Personal Bankruptcy Information
What is Personal Bankruptcy? In opposite to business bankruptcy, personal bankruptcy falls into three categories: Chapter 7 (straight bankruptcy), Chapter 13 (personal reorganization), Chapter 11 (for business or high income/debt individuals). Chapter 7 Straight Bankruptcy A Chapter 7 involves three main entities: you, the trustee and your creditors. In a Chapter 7, all of you non exempt property is placed in the Read More
What is a cheap bankruptcy?
If you are looking for a cheap bankruptcy you will likely find it. There are many options around from paperwork preparers that can cost below $500 to the thousand dollar complete Chapter 7. Make sure whomever you choose to do your bankruptcy is competent and it is wise if the person you choose does other law besides bankruptcy. At first glance, a bankruptcy sweatshop may seem like a good idea until you get signed up. Read More
When to file bankruptcy?
This is a good question to ask, because the answer depends on your situation. You need to consider your tax refund. Sometimes clients don't have a job or haven't had a job for some time. In this situation, this question is relevant. However, if you do have a job and you are expecting a refund you will need to weigh the benefits of filing now and losing all or a portion of your tax return versus the benefit of filing Read More
What is Chapter 7 Bankruptcy?
The federal bankruptcy code has two main chapters that are applicable to debtors. These two chapters are Chapter 7 and Chapter 13. In a Chapter 7 bankruptcy, there are three main players, the debtor (you), the creditors, and the trustee. In a Chapter 7, all of your non-exempt property becomes property of the bankruptcy estate and the person in charge of that estate is the trustee. The trustee is required to obtain Read More
What is a Chapter 7 Bankruptcy Discharge?
A bankruptcy discharge is a court order. Such order grants a "discharge" (forgiveness and elimination of debt) to the persons named as the "debtor" in the bankruptcy petition. Collection of Discharged Debts is Prohibited. The discharge prohibits (makes illegal) any attempt to collect from the debtor a debt that has been discharged. For example, a creditor must never contact a debtor by mail, phone, fax, email or Read More
Chapter 13: Stop Foreclosure or Repossession
Many people looking into bankruptcy wonder about the differences between Chapter 7 and Chapter 13 bankruptcy. You can check out the videos on the site for more information; but in short people receive the most benefit of a chapter 13 bankruptcy when they are behind on debt that is secured. This means cars, houses, boats etc. where you have a debt that you are paying on to keep the item. Loan modifications in recent Read More
Principal Paydown Plan
Have you heard the new Chapter 13 proposal? Because the new proposal will take years to be approved by the legislature, the NACBA has made the proposal directly to investors, insurers, and government agencies. If all of the above agree, it will become real and the strongest tool for bankruptcy filers to remedy their underwater housing problem. The key points of the plan are: The Plan modifies certain undersecured Read More
Best Bankruptcy Attorney?
When selecting your attorney, if you are reviewing or consulting with a number of attorneys take care to not select the one that overly pushes you into filing bankruptcy. I see all too often debtors filing with only $5,000 in unsecured debt. Unless some extenuating circumstance exists, this is not in the best interest of the client because it assumes that the client will not incur any other obligations in the near Read More
Welcome To The Arnold, Wadsworth & Coggins’ Blog
Arnold, Wadsworth & Coggins Attorneys provides value and quality. We are a general litigation firm that is also open to the public. At Arnold, Wadsworth & Coggins Attorneys, we understand that each client is unique and has special needs for their situation, which require personal attention. With over 35 years of trial practice and litigation experience, Arnold, Wadsworth & Coggins Attorneys brings big Read More
