Should I Sign A Reaffirmation Agreement

What Is a Reaffirmation Agreement A reaffirmation agreement is an agreement by which the debtor agrees to remain personally liable for a debt post-bankruptcy.   A reaffirmation agreement essentially eliminates the benefit of filing for bankruptcy for that one specific debt.  Because reaffirming a debt undermines the most basic benefit of filing for bankruptcy, you should seek […]

Why Is Bankruptcy A Constitutional Principal?

The United States constitution has only 4,400 words. It is the oldest and shortest written Constitution of any major government in the world. Article 1, Section 8 of the constitution grants Congress the power “To establish…uniform Laws on the subject of Bankruptcies throughout the United States.” The Preamble of the Constitution explains that the purpose […]

What Happens After You File Chapter 13?

Once a chapter 13 bankruptcy case is filed, the automatic stay prevents creditors from legally foreclosing, garnishing, repossessing or collecting against the debtor or any individual joint debtors. As part of the chapter 13 filing, the debtor proposes a chapter 13 plan (“Plan”) to reorganize their finances.  The Plan will contain provisions to deal with […]

What Is a Section 341 Meeting of Creditors?

Many of our clients are initially somewhat concerned about the meeting of creditors.  The meeting of creditors need not cause substantial concern. Frequently after the meeting our clients will comment that “it wasn’t as bad as I thought”. Who Will Be At the Meeting? With limited exception in every bankruptcy case the trustee has a […]

Are Federal or State Taxes Dischargeable in Bankruptcy?

One of the most frequently asked questions that we hear in our Utah bankruptcy practice is whether taxes can be discharged in bankruptcy. The answer to such a seemingly simple question is actually quite complicated. Some federal and state income taxes may be eligible for discharge under Chapter 7 or Chapter 13 of the bankruptcy […]

Increases to Utah Bankruptcy Exemptions

Keep More Property in Bankruptcy The Utah legislature amended the Utah bankruptcy exemptions  in 2013.  Bankruptcy exemptions are the laws that protect property from liquidation in bankruptcy.  Since Utah has opted out of the federal bankruptcy exemptions, the Utah amendments means that bankruptcy filers can now keep more property when filing in Utah.  The new […]

Can I File Bankruptcy Without My Spouse?

Frequently clients need to file for bankruptcy, but want to do so without his or her spouse being affected.  That raises the questions: Can a married person file bankruptcy alone? How is the non-filing spouse impacted when their spouse files bankruptcy alone? A person in a marriage can file bankruptcy without the spouse. While there […]

Weekes Law Opens Office in American Fork

Located in the heart of Utah County, the bankruptcy law firm of Weekes Law has opened an office in American Fork, Utah.  The opening extends Weekes Law’s physical presence into Utah County.  Weekes Law has long served Utah County residents with chapter 7 and chapter 13 online bankruptcy services.  Now Utah County residents can chose […]

What is Chapter 13 “Cram-down”?

Chapter 13 bankruptcy in Utah County is a consolidation of debt and a partial repayment over a period of three to five years, based on the debtor’s ability to pay. Sections 1322 and 506 of the bankruptcy code permits bankruptcy courts to reduce the balance or “cram-down” unsecured debt. This essentially converts property that is […]

What Are The Different Chapters of Bankruptcy?

There are four primary chapters in bankruptcy–chapter 7, chapter 11, chapter 12, and chapter 13.  Each chapter is designed to satisfy different needs and has different qualifications.  This article will provide a basic overview of each chapter of bankruptcy.  More emphasis will be given to chapter 7 and chapter 13 bankruptcies as these are the […]

Will I Lose All My Property If I File Bankruptcy?

Naturally, one of the most frequently posed questions by our prospective Salt Lake bankruptcy clients is whether they will lose all of their property if they file for bankruptcy.  The simple answer is a resounding NO! It is possible, however that you are required to surrender SOME of your property.  In practice very few of […]

What Should I expect in My Chapter 7 Bankruptcy?

So you’ve decided that you need to file a Utah chapter 7 bankruptcy and you’re wondering what the process is and what to expect. When Will I Go To Court? You won’t, unless something really unusual happens in your case.  Most Utah chapter 7 bankruptcies never have any hearings or appearances with the Utah bankruptcy […]

Stop the Student Loan Debt Bomb with A Bankruptcy Amendment

All Americans have felt the worst economic downturn in American history, since the Great Depression.  The affects and repercussions are still being diagnosed, assessed and measured.  The damage induced by the Wall Street housing bubble is far more widespread than a weak housing market, negative equity, or high unemployment rates. With a slow economy many […]

Dealing with Mortgage or Home Foreclosure

I have just received noticed that my lender is beginning foreclosure of my home.  What should I do? What are my options?  In the current economic downturn and foreclosure crises, the preceding scenario is all too common.  Realize that if you find yourself in this situation you are in good company.  In the month of […]