BLOG ARCHIVE
Archive for the Bankruptcy Category
What should I do with my bank account when I file bankruptcy? This is a question I often get from clients contemplating filing for bankruptcy protection.
The question generally arises out of two underlying common problems. First, if you are being pursued by your creditors, you risk having your bank account cleaned out by your creditors, [...]
We are often asked if bankruptcy will wipe out all of an individuals debts. The answer is yes, but with some exceptions. Bankruptcy will not normally wipe out:
• Money owed for child support or alimony;
• Most fines and penalties owed to government agencies;
• Most taxes and debts incurred to pay taxes which can not be discharged;
• Student loans, [...]
Before you can file chapter 7 bankruptcy, you must determine whether you qualify. Here’s how it works. Add up all the income you have received within the last six full calendar months, annualize it (i.e. multiply by 2), then compare that number to the median income tables published by the U.S. Trustee. If you’re income [...]
DFAS stands for Defense Finance and Accounting Service, a government organization providing finance and accounting services to the Department of Defense (http://www.dfas.mil/). Among the many things they do is to act as the collection arm for debts owing to the federal government in connection with military service. If you join the armed forces, in some [...]
If you have been injured in an accident and are now facing financial woes, bankruptcy has probably crossed your mind. But before you dive head first into a bankruptcy, there are some things you should consider with respect to your personal injury claim.
When you file bankruptcy, you are required to list every debt owing [...]
There is no legal requirement for an individual to be represented by an attorney in order to file bankruptcy. However, I would think long and hard about not hiring an attorney who is experienced in bankruptcy before you dare go it alone. In other words, it is not recommended. In some localities you can get [...]
Have you ever had to sweat through a call from a creditor knowing you didn’t have the funds to repay an obligation, and not knowing what to say? Financial difficulties affect millions of people, especially during this down economy. There are alternatives to bankruptcy that can help you get relief from creditor calls and allow [...]
Many financial victims wonder what will happen to their car if they file for bankruptcy. They fear their car will be taken, leaving them and their family stranded with no mode of transportation to get the kids to school and themselves to work.
More often than not, the real question is not “can I keep my [...]
Bankruptcy filings last year in Utah were up 56% over the prior year according to this Deseret News article. With the number of inquiries we’ve had lately, we thought it would be helpful to put some information online about options people have in bankruptcy. There are a number of options people have when dealing with [...]
Have you reached the end of your rope? It happens to good people everywhere. Sometimes financial burdens overwhelm us and we need legal protection to shield us from creditors. A chapter 7 bankruptcy is a liquidation of assets to cover creditors and extinguish almost all debts. Utah chapter 7 bankruptcy attorney Ron Glines explains how [...]
