If you want the best results from your Logan bankruptcy, start following a few simple steps now.

Many debtors wait until their situation is desperate before they consider filing Logan bankruptcy.  They fight for years to avoid bankruptcy, but relentless debt usually catches them in the end.  These debtors need immediate relief to save their homes and other property.  Our talented attorneys get them the relief they need, fast, but our clients who get the best results are those who have prepared for Logan bankruptcy in advance.

Are you falling behind on your payments?  Even if your situation isn’t serious yet, don’t be afraid of Logan bankruptcy, prepare for it.  By following these simple steps you will avoid dangers that commonly snag less prepared debtors.

• No Credit Card Purchases of $600: You should always be careful with your cards, but be especially frugal if you might be filing bankruptcy soon.  The Logan bankruptcy court claims all credit card purchases  worth $600 or more made within 90 days before your bankruptcy filing date.  Avoid these purchases if at all possible.
• Avoid Inheritance Before Filing: The Logan bankruptcy court claims all non-exempt assets you have inherited within 120 days prior to your filing date.  If you are struggling with debt or considering bankruptcy, be cautious about inheriting valuable family property.  As always, our attorneys will fight to protect your assets, but the best guarantee for their protection is to keep them with other family members.
• Don’t Show Creditor Preference: Debtors sometimes continue to make payments to some creditors and not others in the months before filing bankruptcy.  Logan bankruptcy law is designed to give all creditors fair treatment.  For this reason, The court claims all payments made to creditors within 90 days prior to the filing date as well as all payments to family members within the last year.  The court collects these funds and distributes them among all creditors.  Debtors should not pay some creditors and neglect others in the months before Logan bankruptcy.

If you are starting to fall behind on your payments, now is the time to start preparing for Logan bankruptcy.  Start following these steps today to get better results from your bankruptcy.  Come in for a free consultation before your situation becomes serious, get the help you need and solve your problems with debt early, before it becomes serious.  Fill out a free evaluation form to start today!
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Debtors who expect relief from debts that are non-discharging get into trouble.

Debtors in trouble need relief from their debts.  For whatever reason they have financial obligations they are unable to meet.  These debtors need their debts to be discharged in the Logan bankruptcy court.

We are happy to assist debtors during this difficult time.  We are committed to delivering the best results to our clients so that they can escape their troubles and get on with their lives.  However, there are some debts that Logan bankruptcy can’t help you with.

When the Logan bankruptcy court removes a debt from an individual who has filed for bankruptcy, this is called a discharge of debt.  It makes the debtor no longer responsible for the debt.  However, some kinds of debt cannot be discharged.

Debtors occasionally make the mistake of expecting relief from debts that are non-discharging.  This results in disaster when the debtor inevitably discovers that the relief they were counting on isn’t available.

To avoid this, debtors need to know about non-discharging debts.

Federal and state taxes cannot, generally, be discharged.  Nor can debts from previous court judgments, such as criminal conduct, DUI, and others.  Child support and alimony debts can not be discharged.  Debts that were not included in your Logan bankruptcy petition also cannot be discharged.

Many debtors are surprised to find that student loans also cannot be discharge except in very rare cases.  The discharge of student loans is so rare that I recommend to treat it as non-discharging.

In this tough economy, it’s common for USU graduates to get their degrees with a mountain of student loans and no job offers.  It’s sad, but Logan bankruptcy really isn’t an option for these individuals.  I want to encourage people in that situation to work hard to pay off their debts and not to expect help from the Logan bankruptcy court.

Logan bankruptcy provides needed relief and a blank slate for debtors who need it.  Just be sure that the debts you need to escape are dischargeable.  If they are, or if you need help, please come see us for a free consultation.  We want to get you back on your feet.  Fill out a free evaluation today!
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Your debts are not all the same. Treating them all the same is a mistake.

Long ago, in an attempt to impress my parents, I made dinner for the family, sparing my mother the usual dread and drudgery.  I was certain she would be pleased.  She was, but her excitement was hindered somewhat when she found I had used her cast iron pot to boil the vegetables in.  You see, to me all pots are alike, but any homemaker would tell you differently.  It’s the same with debt.

Boiling water in a cast iron pot causes it to rust.  Similarly, discharging different kinds of debt has variable consequences.  Your debts are not all the same.  For the purposes of this entry, let’s explore the differences between secured and unsecured debt.

Secured debts have a physical asset associated with them.  Your car loan and home mortgage are secured debts.  When you make an agreement with a creditor for a car loan, the car you are purchasing with the loan is specified in the contract.  This contract also gives the creditor rights to the car if you stop making your payments.  This protects the creditor.  This is why your creditors have a claim on your assets during Logan bankruptcy.

Unsecured debts are different, there are no assets associated with them.  Credit card and medical bills are common examples of unsecured debt.  When debtors stop making payments on unsecured debt, the creditor has only a general claim to the debtor’s assets.  These claims are more easily defeated.

The point to take home is this: Logan bankruptcy filers have more success defending against unsecured creditor claims than secured claims.

Debtors who want to find relief through Logan bankruptcy need to consider the amount a relief they need.  If only your credit card and medical debts were discharged, would that be enough to get you back on your feet?  If you can become financially stable without discharging your car or mortgage debts, than the chance of you losing your car or your home virtually disappears.

It is hard to tell just how much debt relief you need.  That’s another thing we can help you with.  Our job is to make you financially secure.  Fill out a free evaluation form today and let us help.

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Some debtors can avoid many of the unpleasant elements of chapter 7 Logan bankruptcy by filing under chapter 13 instead.

No one likes to file for bankruptcy. Some debtors worry about their credit, others are afraid of losing their property. For all debtors, bankruptcy is inconvenient and they’d rather not have to bother with it at all.

The truth is that bankruptcy is a new beginning.  It’s a rescue from disaster and provides a place to start over.  It still isn’t any fun, but it is the first part of a better future.  That’s something to be happy about.  Furthermore, bankruptcy can be a lot less stressful than many of you think.

The fears people have about Logan bankruptcy, losing their home, their car, are associated with chapter 7.  It is true that a good attorney can protect your property while going through chapter 7 bankruptcy, but there is a better way to ensure that you keep what belongs to you.  Chapter 13 Logan bankruptcy is an option that many debtors are unfamiliar with, and it provides the same debt resolution with no risk to your property.

It works by adjusting your debt.  The court puts all your dischargable debts together and sets up a payment plan that fits your budget.  This plan will last between 3 and 5 years.  That sounds like a lot, but it’s no longer than common car payment plans.  During this time you are under the protection of the Logan bankruptcy court and your creditors won’t be able to touch you.  Once you finish your payments, the rest of your debt is discharged and you are on your way, debt-free.

There are some key advantages to chapter 13 over chapter 7.  Most prominently, you keep all your assets.  The experience also teaches debtors better personal finance skills that result in greater success in the years after Logan bankruptcy.

To receive these benefits, the court has requirements each debtor must meet.  First is a reliable income that can cover your household’s basic living expenses as well as payments to the court.  The court cares more about the reliability of your pay check than the size of it.

There are also limits of the debt you can owe.  Unsecured debts are limited to $336,900.  Secured debts must be less than $1,010,650.

If you meet these requirements, you would do well to consider chapter 13 Logan bankruptcy.  You would do even better to come in for a free consultation so that we can help you find the best solution to your problems with debt.  Fill out a free evaluation today.

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Changing laws prohibit some Logan debtors from filing for chapter 7 Logan bankruptcy.

Economic challenges for local companies and individuals are very common right now. The collapse of the credit system has put many Logan citizens in financial strife and unmanageable debt. Bankruptcy is intended to provide relief to businesses and individuals who are struggling with insurmountable debt. The purpose of bankruptcy is also to give these debtors a chance to evaluate their finances and become more efficient with their money.

The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was passed to make sure that bankruptcy benefits are reserved for debtors who are unable to resolve their debts and not abused by others. This makes credit and Logan bankruptcy services more affordable for debtors who genuinely need help. A key component of the BAPCPA is the mean test.

The mean test is used to determine if debtors are able to make payments on their debts or not. The test works by comparing the income of the debtor to the average (or arithmetic mean) income of households the same size. Debtors who have incomes lower than the average for their household size generally pass the test. The court often requires debtors who have higher incomes to file for chapter 13 Logan bankruptcy instead.

Logan debtors who are considering chapter 7 Logan bankruptcy can easily find out if they pass the mean test by coming in for a free consultation. The mean test is one of the things we often discuss in the free consultation and if you bring in some information about your income and family size we can work out if you pass the test really quickly. The mean test is not a problem for the majority of debtors. About 95% of debtors who want to file for chapter 7 Logan bankruptcy pass the test without any problems.

You can find relief from your debt. Come in for a free consultation and you will also be confident that you are making the best financial and legal decisions for your household. Fill out a free evaluation form today and begin your one-way trip to financial stability!

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Being familiar with Utah bankruptcy trends will help you anticipate your needs when filing your own Utah bankruptcy.

Annual personal bankruptcy rates across the nation are the highest in years. The recession left many households with no income and substantial debt. The result is a steadily increasing rate of personal bankruptcy filings over the last few years.

So far, there have been 10,704 personal bankruptcy filings this year in Utah alone. That’s up from 9,243 filings in all of 2008 and 6,260 in 2007. Clearly, Utah bankruptcy is on the rise.

This increase in personal Utah bankruptcy cases can be misunderstood if taken out of context. No one likes to see bankruptcy rates increasing, but in fact we are still below the average bankruptcy rate from the first half of the decade. The financial market is going to recover from this recession and soon unemployment and bankruptcy rates will fall.

In the meantime, many individuals are struggling with debt and considering Utah bankruptcy. For such people, it is wise to be familiar with the trends of Utah bankruptcy. These trends provide clues for potential Utah bankruptcy filers that will help them be more successful.

For example, of the 10,704 personal Utah bankruptcies that have been filed this year, only 35% of them were under Chapter 13. The majority of personal Utah bankruptcy cases, 65%, are filed under Chapter 7, also known as liquidation bankruptcy. Debtors should know that, in all likelihood, they need to prepare for a Chapter 7 Utah bankruptcy.

Furthermore, because the number of personal Utah bankruptcy cases has gone up over 71% since 2007, there is greater demand for bankruptcy attorneys. Utah bankruptcy courts are also busier than they used to be. This makes it even more important for debtors to seek the help of experienced and skilled Utah bankruptcy attorneys. That way debtors can enjoy fast and successful bankruptcies despite the crowded courts and stiff competition.

Debtors considering Utah bankruptcy need to be familiar with the current trends. You wouldn’t put money in the stock market without knowing something about the companies you were investing in, would you? Don’t file for Utah bankruptcy without a knowledge of the trends, and don’t go it alone either. Let us help you get past Utah bankruptcy and on to the rest of your life.

» Fill Out A Free Utah Bankruptcy Evaluation Today!

“What’s an asset?”  I hear this one a lot. 

New clients or people just considering Logan bankruptcy usually are not familiar with the terms that Logan bankruptcy law uses.  However, debtors who learn just a few of the most important terms have a better understanding of the Logan bankruptcy process and thus make better decisions and enjoy better results. 

I want you to have a successful and low-stress Logan bankruptcy, so I’m taking some time to talk about assets.

Your assets are your property, all of the things you own.  Your car, home, land, investments and other possessions are all assets.  During the Logan bankruptcy process, debtors make a careful inventory of all their assets and present it to the Logan bankruptcy court.  Debtors must also include all the assets that are in more than one name.  These assets are organized into groups.  Let me explain the different kinds of assets there are.

Financial Assets: These are assets that  increase in value over time.  Your home, and investments such as stocks and bonds are examples of financial assets.  Motor vehicles are not financial assets because they, generally, become less valuable over time.

Exempt Assets: The Logan bankruptcy court permits debtors to keep these assets after completing Chapter 7 Logan bankruptcy.  An asset is determined to be exempt if the equity the debtor has in it is below a predetermined cutoff.  Every type of asset has its own cutoff, so come in for a free consultation and we can discuss your unique case.  There are ways to protect more, if not all, of your property under exemption, so come in and let us help you.

Non-Exempt Assets: The Logan bankruptcy court takes these assets from debtors after completing Chapter 7 Logan bankruptcy.  The Logan bankruptcy court sells them for fair market value and pays the creditors with the money they generate.

Hopefully this answers some questions for you.  Many debtors worry about losing their property and their dignity in Logan bankruptcy, but you don’t need to be concerned.  I want you to become free from debt and get the fresh start you deserve.

» Fill out our Free Logan Bankruptcy Evaluation