When Can I Guy A Home After Bankruptcy and Foreclosure? I was speaking with a friend the other day who about a year ago short sold a home following a job loss and related struggles. She had a short-sale and wanted to know when she could buy a home after bankruptcy and foreclosure or a […]
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 […]
Does Filing for Bankruptcy in Salt Lake mean You’re Dishonest or Unethical?
One of the most common concerns or misconceptions that clients express in one form or another is an insecurity that if they file bankruptcy that makes them somehow unethical or dishonest. While there may be a small minority of people who intentionally abuse the bankruptcy system, it is my overwhelming experience that people filing bankruptcy […]
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 […]