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Repossession of your Car

Are you behind on a vehicle payment? Has your lender threatened to repossess the car? Repossession occurs when a creditor takes back property that was used as collateral or leased in a transaction. If you are behind on your car note, the bank or third party that financed your vehicle can repossess the vehicle at any time. Utah law does not require the lender to give you notice of the repossession. This “self-help” remedy is a unique legal action because your lender can repossess the vehicle without giving you notice or going to Court. Although... Read more

Utah Short Sales

Mortgage lenders and real estate agents are quick to push a homeowner who is behind on their payments into choosing a short sale, instead of letting their home go into foreclosure. In a short sale, the house owner agrees to sell the house to a potential buyer for less than the amount owed to the mortgage company. Before the sale the homeowner must communicate and ask them for a compromise to accept the amount offered, rather than taking the house into foreclosure. It is obvious that only two parties really come out ahead... Read more

Currently Noncollectable Status

Currently Not Collectible means that a taxpayer does not have the ability to pay his or her tax debts at this time. The IRS can declare a taxpayer “currently not collectible,” after the IRS is shown evidence that a taxpayer does not have the ability to pay. Such evidence is usually obtained from the taxpayer on IRS Form 433-F, Collection Information Statement. When you are granted Currently not Collectible status, the IRS must stop all collection activities and efforts, including levies.y law, you are guaranteed to remain in currently not collectible status for... Read more

The Means Test

The choice of chapter 7or Chapter 13is a decision most Debtors voluntarily make. However, in some cases the choice is made for the Debtor through the results of the Bankruptcy “Means Test”. This test was added by Congress in 2005 to identify Debtors who can afford or have “the means” to pay some of their unsecured debts (for instance, credit card debt) and encourage repayment of these debts through a Chapter 13 repayment plan. Debtors that do not “pass” Means Test are disqualified from filing Chapter 7 Bankruptcy. Despite what you may have heard, many Debtors still qualify for chapter 7... Read more

How to Improve Your Credit after a Bankruptcy

After a bankruptcy it is Important to be proactive about restoring your credit score. These are some ways to take an active role in increasing your financial situation after a bankruptcy... Read more

Budget Calculator

Once your bankruptcy is complete and you have your “fresh start,” it is critical to your financial health to do everything possible to avoid a repeat of whatever it was that caused the situation in the first place. For many people, that means learning about budgeting, and making use of a budget calculator. Everyone can benefit from using a budget calculator. Using a budget calculator will reduce the stress in your life. It is always fun to spend money, but not as much fun to pay the bill when it arrives. Below are 4 steps to creating a budget... Read more

Back Payroll Taxes

If you are running a small business and things are not going as well as you have hoped it is easy to fall to the temptation of not paying your payroll taxes for your employees. The money may be used to pay the rent or to pay other necessary expenses to keep the doors opened at your business. When this happens this will get you in trouble with the IRS and the IRS will take aggressive measures to collect these taxes from you... Read more

How to Select a Good Bankruptcy Lawyer

Experience is highly valuable in the practice of bankruptcy law. Unfortunately, the collapse of the real estate market, the decline in the stock market, and the recent economic hardships facing many Americans has drawn out a large number of inexperienced and/or unqualified lawyers who want to “get a piece of the action” while bankruptcy filings soar. Do not fall for misleading claims. Simply because some lawyer or law firm describes themself as an “expert” or “experienced” does not mean that the statement is true. The internet hides the true lawyer behind fancy web sites and exaggerated marketing claims. There are some lawyers that have practiced law for less than one year and advertise themselves as... Read more

Stopping Foreclosure through Bankruptcy

Many consumers are new home owners because of lax lending rules in recent years, and because of non-conventional loan schemes, including zero-interest, zero-down loans. The bad economy has left many new home owners wondering how bankruptcy will affect their mortgage and their ability to keep their homes. Bankruptcy offers a way to stop the foreclosure sale and to retain your property, even over the foreclosing creditor’s objection! Facing a foreclosure is something that they never imagined would... Read more

IRS Payment Plans

As a Tax Attorney, I have helped taxpayers, both individuals and businesses, across the country negotiate a payment plan with the Internal Revenue Service. A payment plan, also called an Installment Agreement, is one of the quickest solutions that can be negotiated with the IRS. This is when you set up a payment plan that if you make your tax debt will be taken care of. In a payment plan you set up an agreed amount of payment that you make every month. The IRS will let you pick a date when they will debt your bank account so you will not accidentally forget to send them their money. This is the most common type... Read more

How Will Bankruptcy Affect My Credit Score?

Filing for bankruptcy does not always have a severely negative impact on a debtor’s credit score. Bankruptcy always shows up on a credit report, but how big of an effect it has depends on the debtor’s specific circumstances. Those with relatively good credit will realize a significant drop in their score, while those with poor credit may only notice a small drop in their score. Similarly, those with numerous credit accounts will realize a more significant drop in their score than those with fewer credit accounts... Read more

Chapter 13 Bankruptcy

Chapter 13 differs from chapter 7bankruptcy because the debtor actually repays some or all of the debt. This is accomplished using a Chapter 13 restructuring plan which provides debtors with better terms such as lower interest. Because restructuring debt involves repayment instead of discharge of debt, debtors who utilize Chapter 13 must have a regular income. Debtors work with their attorney to determine how much of their future income they can use for repayment... Read more

Life after Bankruptcy

We have helped hundreds of individuals and families in Utah get a fresh start from the heavy burden of consumer debt. Naturally, creditors want people to believe that filing bankruptcy is a social stigma that will ruin your life. We often answer questions from people calling about what their lives will be like if they file for bankruptcy. Here are some answers to many of the typical questions we receive at the Ogden Utah Bankruptcy Attorney... Read more