Financial Freedom in Northern Utah

This 4th of July make your move towards financial freedom. Get informed. You’ll feel so much better when you know your options.

We take this break from our ongoing series of blog posts on secured debts this 4th of July to talk about freedom from debt.

Your Life Today

If you’re reading this most likely you’ve got some rather serious financial problems. Most likely your debts are overwhelming you, worrying you all the time.

You’ve probably been trying to improve your situation for a long time, likely for years. It’s really affected your life. It hasn’t helped your…

Bankruptcy Can Be a Moral Choice

When is it a valid moral choice to break your promises to pay your debts?

We Humans Are Moral Creatures

Your decision about whether to file bankruptcy could sensibly be just a weighing of its economic costs and benefits.

But there’s more to life than dollars and cents. Whether in the front of our minds or nagging us in the back of our minds is the very human question: “Is it the right thing to do?”

Our important life choices are often moral ones. They are choices between doing what’s right and doing what’s wrong.

When deciding about bankruptcy you…

Warning: Bankruptcy Scam Coming to Utah

Warning: Watch out for a bankruptcy scam coming to Utah — phone calls seemingly from your bankrutpcy attorney’s office with reliable sounding information, requesting fast money. Warning: You Wouldn’t Be Fooled by This If you get an email written in imperfect English from somebody saying she needs your help to move a huge amount of money out of her African country, and that you’ll get a healthy percentage of that amount if you just provide your bank account information, you probably know better than to respond to that email. Here’s a part of an email  which is an example of…

Get a Fresh Start in the New Year

Bankruptcy gives you an overall fresh start. But it also gives you specialized fresh starts you may be pleasantly surprised to hear about.   The Overall Financial Fresh Start You get a new financial life by legally writing off (“discharging”) debts so that you are out from under them and never have to pay them again. With consumer and small business debts you have two main choices about how this happens. The Chapter 7 Fresh Start With a Chapter 7 “straight bankruptcy” the discharge of debts happens very fast. The moment your case is filed the creditors can’t take any more…

Driving Under the Influence in Northern Utah

If you cause an accident and hurt someone while driving under the influence, bankruptcy does not write off debts from that bodily injury.   There are 3 different kinds of liabilities that can come from driving while intoxicated and getting into an accident: 1) personal injuries to others, 2) property damage, and 3) criminal traffic citation. Today we focus on the first of these. Personal Injury or Death from Driving while Intoxicated If you are in a traffic accident and you are injured and there’s not enough insurance to pay for your medical bills, usually you can file a bankruptcy…

Gift-Giving and “Fraudulent Transfers” in Northern Utah

Gift-giving during the holidays could raise issues ahead of bankruptcy, but only if the gift in question is a large one.   “Fraudulent Transfers” Usually Not an Issue This blog post is about a topic to be aware of but one that’s seldom an issue for consumers or small business owners filing bankruptcy. However, in part because “fraudulent transfers” often involve some version of gift-giving, it’s particularly worth getting an understanding of this during the holiday season. We’ll briefly explain here what a “fraudulent transfer” is, its two different forms, why neither are a problem for most people, and when you…

“Preference”€ Payments in Northern Utah

You may be extra motivated and better able to repay a personally important debt this time of year. But since that could be a “preference” maybe you shouldn’t.   Careful about Paying a Favored Creditor Around the holidays you may be extra motivated to pay back a personal loan. The relative or friend may be in real need of the money and pressuring you to pay it. Or if you are considering bankruptcy you may not want it to involve this person, or to have him or her know about it. You might feel be better able to pay this debt.…

Bankruptcy Timing and the Holidays in Logan Utah: Extra Income in December Affecting the “Means Test”

We show step-by-step how filing bankruptcy before the end of December can help you pass the “means test” and qualify for Chapter 7.   Have you received or are you expecting any extra money from any source during December? It’s probably the month when that’s most likely. If you are fortunate you may receive a bonus from your employer, or you’re working a part-time Holiday job or getting bigger paychecks because of overtime. Or you may get a cash gift from a parent or some other relative, either for yourself or to help buy gifts for your kids. In our last…

Mistakes to Avoid in Utah–Don’t Sell Your Home out of Desperation

If you’re feeling pressured to sell your home because of financial problems, get legal advice about bankruptcy to possibly save you lots of money.    Do you have serious financial pressures inducing you to sell your home? Those pressures may be from your mortgage lender itself or other home-related debts like property taxes, a second mortgage, or some other creditor that has put a lien on the home, such as the IRS or your state income tax agency. Or you may have other debts not related to your home but which put your home in jeopardy because they suck money away…

Mistakes to Avoid in Utah: Selling or Borrowing against Protected Assets

To get a real, fresh financial start, keep the assets you need.

 

Getting the Most Out of Your Bankruptcy

When you’re considering bankruptcy your mind is likely mostly on how to deal with your debts. You’re focused on getting a handle on the negative side of your balance sheet. But getting a financial fresh start also means protecting your assets—the positive side of your balance sheet. You can get much more benefit out of bankruptcy by not selling, using up, or borrowing against what you own BEFORE filing your bankruptcy case.

It’s certainly understandable that you might sell some …