No one takes the decision to file for bankruptcy lightly. Many people who do so have already exhausted all other financial avenues. Many people who file for bankruptcy end up wondering, “how do I fix my credit?” or “will I ever be able to buy a home?”While fixing your credit after a bankruptcy seems daunting, [...]
The decision to get a divorce is never an easy one. Most people do not even begin to consider it as a possibility until they have tried every other option they can think of to save their marriage. A divorce can be a lengthy process that is both emotionally and financially strenuous. This article will [...]
An annulment is the process of legally erasing a marriage. By law, the marriage will be considered as though it never happened. The legal significance of vacating or canceling the marriage is the difference between an annulment and a divorce. What are the grounds for annulment in Utah? Not every marriage can be annulled. There [...]
Most people believe student loans cannot be wiped out (“discharged”) in bankruptcy. Federal laws have made this difficult, but not impossible. Student loans can be discharged if repaying the loan is an “undue hardship.” The Undue Hardship Exception For your student loans to be wiped out in bankruptcy, we must prove it would be undue [...]
After you file for bankruptcy, the automatic stay offers potent legal protection against bill collectors. When you file for bankruptcy, something called the automatic stay immediately stops any lawsuit filed against you and most actions against your property by a creditor, collection agency, or government entity. Especially if you are at risk of being evicted, being foreclosed [...]
What exactly is bankruptcy? Will it wipe out all my debts? Bankruptcy is a federal court process designed to help consumers and businesses eliminate their debts or repay them under the protection of the bankruptcy court. Bankruptcies can generally be described as “liquidation” (Chapter 7) or “reorganization” (Chapter 13). Under a Chapter 7 bankruptcy, you [...]
Wise timing of your bankruptcy filing may have a significant impact on your future. While you may have pressing reasons to consider filing for bankruptcy now, in some situations you may want to wait to file, even if you are eligible for Chapter 7 bankruptcy. If you face an immediate problem that bankruptcy can at least temporarily [...]
QUESTION: I filed for Chapter 7 bankruptcy seven years ago. I’ve been told that it takes ten years for a Chapter 7 to “fall off” your record. Is there anything I can do in the meantime to get a lower rate on my car loan and credit cards? ANSWER: There are many things you can do [...]
1. The U.S. Constitution has a Bankruptcy Clause (Article I, Section 8, Clause 4.) Our founding fathers rejected the idea of debtors’ prisons and saw freedom in a fresh financial start. 2. Bankruptcy stops harassment from creditors the day you file. 3. Chapter 7 of the U. S. Bankruptcy Code allows a complete discharge [...]
