Chapter 7 Bankruptcy: What You Must Know About “The Means Test”

When going through bankruptcy, most people prefer chapter 7 because it is better able to wipe out debts completely, rather than just restructure them so they can still be repaid. In order to qualify for a chapter 7 bankruptcy, however, you must pass ‘the means test’ which looks at your income level. This test is intended to prevent high-income filers from being able to wipe out debts that they could repay with a Read More

Utah Wage Exemption in Bankruptcy

In December 2012, the Utah Supreme Court overruled a wage exemption used by bankruptcy attorneys for decades.  For years and years those that were due bonus money or wages that previously were not paid before filing of the bankruptcy could claim a 75% exemption.  For example, if the debtor was owed a bonus or merely received a gratuitous bonus of $10,000 (after taxes) the debtor could keep $7,500 of the $10,000.  Read More

How to Use Utah’s Bankruptcy Exemption Statute

When preparing for your bankruptcy filing, you may have some nonexempt property that will be subject to liquidation by the bankruptcy trustee. What is the distinction between exempt and nonexempt property? Click here: You may use the benefit of the exemptions even if you are using nonexempt property to obtain the exempt property. For example, if you have $10,000.00 Read More

341 Creditors Meeting

What is the 341 Creditors' Meeting? Under the bankruptcy code, the debtor is required to appear to attest to the veracity of the paperwork filed with the court system. The meeting is referred to as the "341 creditor meeting" because Section 341 of the Code is the provision in the Code requiring the meeting. At this meeting, you will bring a government issued ID along with your most recent pay-stub, if Read More

Documentation is Key, Proof of Claims, Chapter 13 and Chapter 7 Bankruptcy

When getting ready for your bankruptcy, regardless of whether you are filing a Chapter 7 or Chapter 13, the key is to gather the proper documentation. This could mean credit card statements, mortgage statements, student loan statements or auto loan statements. You may be thinking of settling certain debts instead of filing bankruptcy. This is a great option for some people, especially if you have some non-exempt Read More

Bankruptcy in Divorce

When viewing your debt obligations contained in a divorce decree, you may be able to discharge your liability to your creditors, because they will never know that your obligations were contained in a divorce decree, but your liability to your ex-spouse will never go way. If you and your soon-to-be ex have a great deal of debt, it is best for you both to file bankruptcy and get rid of all of it, if possible. The Read More

Lock in your Loan Modification?

If you have obtained a loan modification, you may have heard that banks routinely do not honor them despite finalizing them with you. This is very common. You can lock-in the payment on your loan modification through a Chapter 13 bankruptcy. Once the court approves the payment to the lender through the bankruptcy plan, the lender is forbidden from unilaterally changing the payment term during the plan time Read More

Salt Lake Bankruptcy Lawyer

Get Relief From Creditors Now Stop Harassing Telephone Calls. Stop Collection Letters. Stop Lawsuits, Wage Garnishments. Stop Bank Attachments. Stop Evictions, Foreclosures and Repossessions. Save Your House and Business. Get Rid of all Dischargeable Debt, such as Credit Card Debt, Medical Bills and Personal Loans. Get Rid of all Dischargeable IRS and State Taxes. Not Sure whether you should use Debt Consolidation Read More

What is a 2004 Exam in Bankruptcy?

2004 Examination in Bankruptcy A 2004 exam is like a mini deposition in a general civil litigation case except there are some bizarre rules. Often, creditors try to use a 2004 exam as a collateral route to get information in a different civil case going on somewhere else.  There are particular rules that govern this situation, and don't be intimidated into doing something that may hurt you in the long run.  You have Read More

Stop Foreclosure, Stop Garnishments

You can stop garnishments and foreclosures immediately by filing for bankruptcy.  To see if you qualify, call our office in Ogden or Salt Lake City to have an immediate no obligation consultation with one of our bankruptcy attorneys. Call us Today! Ogden, UT: 801-475-0123 Salt Lake City, UT: 801-503-0015 Read More