Keep Your Tax Return

Historically in the months of October, November, and December the amount of bankruptcy filings in Utah decrease.  The reason for this is because tax return season begins in January and if a bankruptcy is pending when your tax return comes back the bankruptcy trustee will confiscate the entire return and then distribute the funds to your creditors.

We recommend that you keep your tax return — your hard earned money that the government steals from you and then reluctantly gives back to you.  You need to keep every dime possible so that you will have funds for groceries, rent, and basic living expenses.  For that reason we advise many individuals who are thinking about filing bankruptcy that they wait until they get their tax return back, and until after they have spent their tax return, to file.

Declaring Bankruptcy in Utah

You may be expecting a tax return in the near future, but you also may be experiencing severe financial problems and have an overload of debt.  As a result you may be looking at bankruptcy as an option to relieve you of your financial stress.  If this describes your situation, give us a call, after you have received your tax return. We can then get you in a for a consultation to get you started on the road that leads toward financial freedom.

We Are Utah’s Bankruptcy Law Firm

Our bankruptcy attorneys will get you back on track and help you keep your tax return.  We will make the process as quick and painless as possible so that you can clear your debts and once again move forward in your life without the hassle of having to worry about getting a phone call from a creditor or getting served a summons in a lawsuit for debt collection.

Call our Salt Lake City bankruptcy law firm at (801) 413-1753 to schedule a time to sit down with a bankruptcy lawyer.

UT BK Lawyer

Europe’s debt woes is troubling the financial markets across the world including right here in Utah.  It is amazing how financial problems in countries half way across the world can affect Utah.

So what’s happening in Europe?  Several nations including Greece, Italy, Spain and others spent way too much for way too long plunging their countries into debt at levels that cannot be sustained.  Many private banks, both European and American, purchased these countries’ bonds.  Europe’s banks purchased billions of dollars worth of these bonds and now they are sitting on the potential of their default.

If these countries default on their debt the private banks which hold their debt risk losing a lot of money and in some cases they risk going bankruptcy themselves.  This can cause a chain reaction of defaults.  The investors of those banks will lose their money which will affect local and global economies.  In order to stave off the potential for a domino affect the U.S. central bank will try to bail out Europe.  Regardless, the central bank cannot stop at least some dominos from falling and the entire global market will be affected.

What this means is that more people would be negatively affected in Utah which would result in more Utah bankruptcies.

A Utah Bankruptcy Can Help

If the European debt crisis gets to the point that European nations begin defaulting on their debt you can expect to see a renewal of the 2008 financial crisis.  Fortunately, filing for Utah bankruptcy protection provides relief for individuals and families who are suffering in this economy and who may suffer in the event of a new financial crisis.  Bankruptcy will stop your creditors from harassing you and will stop them from trying to collect from you.  This will give you relief from your debts and the ability to start over.

Call us anytime at 801.413.1753 to set up a consultation with a bankruptcy lawyer.

Utah Bankruptcy Rate Rises As National Rate Falls

A recent news story revealed some very interesting facts about bankruptcy filings in Utah. While the overall national trend this year has been a decline in bankruptcy filings, Utah bankruptcies are on the rise. Utah is normally pretty close to the national trend when it comes to bankruptcy statistics. However, this year, according to recent data from the Utah Bankruptcy Court, the number of overall cases has increased nearly 8 percent from last year. This is a fairly large increase considering the national average actually declined. More than 14, 5000 have already been filed this year. Clearly if you are seaching for a Salt Lake City bankruptcy attorney, you are not alone.

Experts are not sure why Utah has seen such a considerable increase in bankruptcy filings this year. Some experts indicate Utah has historically lagged on these types of economic trends and since the national average has leveled out and now has begun to decrease, perhaps Utah filings will soon follow. Some predict next year, the number of cases brought will be substantially lower. Some have tried to put a positive slant to the message claiming many people file for bankruptcy when an economy improves so they can have a fresh start and move forward in a better position.

For more on this story see the video below:

Bankruptcy Lawyer | Salt Lake City | Provo

If you or someone you know is struggling to make their bills on time, we can help. We can represent you in the bankruptcy process in Utah, giving you a fresh start. In this market many families are on the verge of losing their home to foreclosure, we can help prevent foreclosure in some cases and have helped numerous families stay in their home. Right now we are in the middle of the holidays. Get some peace of mind by meeting with a bankruptcy lawyer in our office today. Call us anytime at 801.413.1753. We look forward to your call. We serve clients all over the state including Salt Lake City and Provo.

A Utah bankruptcy is the best option for many people who are struggling and able to meet their financial obligations each month. Filing for a Chapter 7 or Chapter 13 bankruptcy in Utah bankruptcy court can help a debtor get back on their feet financial and in some cases prevent foreclosure or repossession of assets. If you are thinking about filing for bankruptcy, you are not alone. Recently new statistics in the housing market showed Utah was number 6 in the nation for home foreclosures. With so many people losing their homes, the bankruptcy rate is continuing to be high. From Salt Lake City to St. George, people all throughout the state are feeling the pinch of the economic down turn and are looking for an option to start fresh. If you need help, call Salcido Law Firm today at 888.337.3235.

Utah Bankruptcy Attorney

When considering your options for bankruptcy, makes sure you at least meet with a Utah bankruptcy attorney to discover  allyour options and answer your questions. While some individuals try to file for bankruptcy on their own, the truth is the bankruptcy process in Utah can be very difficult with having representation. There are numerous rules governing the process and one small mistake can in some cases mean the dismissal of your case. Since most bankruptcy lawyers in Salt Lake City and through the state offer free consultations, there is no reason not to meet with a law firm today.

Bankruptcy Law Firm in Utah | Call us today!

SLF is a bankruptcy law firm in Utah ready to answer your questions and represent you through the process of getting you and your family back on track. We offer a free consultation to every potential bankruptcy client. Call us today to schedule an appointment with a member of our team. We are available anytime at 888.337.3235. You can also email us anytime by simply filling out the contact form on the right hand side of this page. We look forward to helping you through this process.

The economy is ailing.  It has been for a long time.  The unemployment rate remains steadily above 9% and there is no indication that that is going to change any time soon. As a result of the economic problems our country has been facing for the last several years, bankruptcy filings are very high.  As more people become unemployment they are unable to meet their debt obligations and very often pushed into filing for bankruptcy.

Recognizing the dire circumstances of our economy and hoping to provide relief to the millions of unemployed Americans, the President recently proposed a new jobs plan.  The question in everyone’s minds is whether this new jobs plan will actually produce jobs, and thereby, stave off more bankruptcy filings.

A central part of Mr. Obama’s plan is an increase in public works, that is providing jobs to construction workers as well as teachers.  The problem with this proposal is that public works are funded by taxes, which means that the money used to produce those new jobs have to be taken from private individuals to give to other individuals.  In terms of bankruptcy filings this is unlikely to have an overall effect of increasing the amount of jobs.  This is not good news for the unemployed and not good news for Utah bankruptcy filings.

However, there are some provisions of the jobs plan that may provide a respite for those considering bankruptcy filings.  The provisions that provide tax breaks to small businesses may result in additional hiring which can help decrease bankruptcy filings in the future.

One thing is clear, Utahns, as well as all Americans need some kind of solution to the economic problems affecting all of us.  We understand that you may be out of work and unable to meet your debts.  If that is the case our Utah bankruptcy lawyers can help you.  Give us a call at 801.413.1753 so that get you started on a track to financial freedom.

Historic Franchise Hits Financial Low Point

Yesterday it hit national news that the Los Angeles Dodgers were filing for bankruptcy protection in a Delaware court. The franchise’s financial woes have been highly publicized and the team’s owner Frank McCourt has made a last ditch effort to keep control of the franchise and find a way to make payroll. The legal action would allow McCourt to obtain $150 million in financing if he were successful. McCourt will be arguing that the financial woes of the franchisee are the result of baseball commissioner, Bud Selig’s refusal of a T.V. deal that would have allowed the Dodgers to stay financially afloat. If Selig is successful the MLB would be taking control of the team

McCourt in Court

The Dodgers owner Frank McCourt is currently fighting four different legal battles. The original financial downturn of the Dodgers began with the divorce of McCourt and his ex-wife who continue to battle in court. McCourt is also in a legal dispute with his former law firm, and with the family of Bryan Stow, the Giants fan that was critically beaten in the parking lot of Dodger Stadium on opening day.

Utah Bankruptcy Attorney – Salt Lake City, Provo

A new report out this past week indicates Utah is the 4th leading state in the nation when it comes to the number of home foreclosures. Not surprisingly, many individuals in Salt Lake City, Provo, and throughout the Wasatch front are turning to bankruptcy as a means of preventing foreclosure and getting back on their feet. So how do you start, and does it make sense for you? These are two of the most common questions we here from struggling families who call our office in need of some type of debt relief from a Utah bankruptcy attorney. This article provides the basic steps you should take if you are considering filing for Chapter 7 or Chapter 13 bankruptcy in Utah.

The Means Test

A chapter 7 bankruptcy allows you to clear all of your dischargeable debt. But first, you need to find out if you qualify or not. The means test is the financial test to determine whether or not your finances qualify you for eligibility to file bankruptcy. Essentially, whether or not you qualify will depend on your income, marital status, and number of dependents. At Salcido Law Firm, we can determine your bankruptcy eligibility usually just by asking you a few short questions over the phone.

Another early factor to consider regarding your eligibility is the question of whether or not you have filed any previous bankruptcy. If you have not, you do not need to worry about it. If you have a prior bankruptcy, you may not be able to file again for a certain period of time. Speak with a Utah bankruptcy lawyer at out office today to determine if enough time has passed for you to file again.

I qualify, now what?

If you are eligible to file for bankruptcy, you will need to first supply our office with a number of documents to get the process started. Once we have all your information, you will need to take a short credit counseling course online. It is important to remember that the bankruptcy court requires everything in your bankruptcy paperwork to be in line or else your case may be dismissed. As such, it is important to have an experienced team of Salt Lake City bankruptcy lawyers representing you through the process. Individuals who attempt to file on their own often run into legal road blocks they can’t overcome.

After we file on your behalf, you will have a meeting of creditors in which the trustee will preside and require you to answer certain questions and provide certain documents. Don’t worry; you will have one of our advocates on your side at the meeting to ensure the process goes smoothly.

Call 801.417.1752 today to get started.

Ready to get started, we are ready to help. Unburden yourself from your debt now. Call us today or send us an email. We provide free consultations and are available anytime. If you or someone you know needs a bankruptcy lawyer in Utah, look no further. We have the team of highly skilled advocates to take your case from start to finish.

Foreclosed Homes Driving Home Sales in Utah

This week a report showed that one out of every five home sales last year was a foreclosure.  Utah’s foreclosure rates are not as high as other states like Nevada and Arizona, but 20% is well above the typical 1% to 5% foreclosure rate in a normal market.  We are not in a normal, however, and more and more people are having to deal with short sales and foreclosures.  While this may be good for buyers, distressed property sales are driving the real estate market and resulting in many people losing their homes and their equity.

Banks Holding Owners Accountable for Deficiency

To make matter worse, when someone loses a home to foreclosure the bank does not have to sell the home for the amount owed on the mortgage.  Instead, the bank will sell for market value which is generally tens of thousands of dollars below what is owed on the mortgage.  The banks are then going after the home owner for the deficiency.  Owners are getting sued after the home forecloses and are forced to either defend against a lawsuit or just take a default judgment.

Bankruptcy Can Help the Utah Home Owner

When home owners get in a situation where they can no longer afford their home and they cannot pay for the deficiency on the loan after the property forecloses they should look to bankruptcy as a possible option.  Bankruptcy can result in liquidation of your unsecured debt.  At Salcido Law Firm PLLC, our Utah bankruptcy lawyers provide bankruptcy services at the most competitive rates available. Although you may feel that bankruptcy is the end of the world, it isn’t.  In fact, it can be a new beginning in which you have an opportunity to start fresh.

Contact our bankruptcy attorneys at 801.413.1753 to find out how easy we can make the bankruptcy process for you.

Utah Bankruptcy Attorney – Salt Lake City, Provo

News stories across the country indicate that foreclosures in many states, including Utah will rise substantially in January. According to a recent story by National Public Radio, the many reasons keeping foreclosures down over the holidays are no longer restraining the banks from foreclosures. Indeed, over the first few weeks, our law firm has seen a significant increase in the number of clients served with foreclosure notices. This blog describes why banks are looking to take aggressive actions on foreclosures this year. To find out more information on how to prevent foreclosure in Utah, speak with one of our Salt Lake City, Provo Bankruptcy Lawyers today.

Robo-Signings – The Foreclosure Scandal

Over the past few months of 2010, many consumer advocates across the nation have brought cases in the state and federal courts questioning the legality of mortgages and foreclosure affidavits signed electronically by individuals without actual knowledge of the facts alleged in such affidavits. It is expected that many courts will find in favor of the banks on this issue and allow foreclosures to proceed.

Holiday Stay

Traditionally, lenders do not pursue very many foreclosures during the holidays. So, for the past month or so, from about Thanksgiving, through New Year’s Day, many creditors have chosen to put a temporary stay on the foreclosure process. Now that the holidays have passed, debtors can expect to see quick action by their creditors if they have been in default on their loans.

Foreclosure Backlog

The stay on foreclosures over the holidays has inevitably resulted in a backlog. The banks are not doubt looking to push these items off their books and so debtors should be very wary if they no a foreclosure may be looming. For those individuals who get the notices this month and in the short months to come, there is help. Salcido Law Firm and its affiliates can ensure your rights are protected through the process and in some cases, have helped clients stay in their home.

More Changes to the Market

More foreclosures means more homes on the market. Currently, Utah ranks about 5th in the nation in foreclosures per person. Recovery in the housing market may be slow. Lenders are tightening standards and high unemployment means fewer families can afford to buy. Market side effects are expected.

Salcido Law Firm – Free Meeting with a Counselor

If you or someone you know is facing a foreclosure, you have rights and should speak with a lawyer as soon as possible. At Salcido Law Firm, our dedicated team of bankruptcy professionals understands the foreclosure process in Utah. We offer free consultations in our office or right over the phone. Call, email, live chat, or stop by our office anytime.

Assessing Your Debt | Is it time to take action?

If you have been struggling to make ends meet, if you are not paying your bills, if you are living pay check to pay check, it is time for an honest, objective, assessment of your debt. A Utah bankruptcy attorney at Salcido Law Firm can provide you with a free debt assessment, review your financial circumstances, and formulate a game plan to help you get back on the road to financial recovery and freedom. If you are struggling to pay your bills, you are not alone. Millions of Americans are currently drowning in debt; our federal government is even drowning in debt to the tune of trillions of dollars. We understand your plight and we have helped hundreds of individuals and families in Utah just like you find help in the bankruptcy process.It is time to take action to protect you and your family. Let us be your advocate and provide you with the honest assessment of your financial situation you need in order to be able to take action and move forward.

Calculating Your Finances and Abilities to Pay

Many clients come to our office seeking help in determining their total outstanding debt obligations. Our Salt Lake City bankruptcy lawyers are experienced in debt analysis and can help you understand your obligations, total financial picture, and potential debt relief options. Many clients panic when they have been served with a civil suit, garnishment, or foreclosure notice. You have rights and we can help you determine how best to protect you and your family through these difficult times. We aid debtors in calculating their financial obligations and their ability to meet those obligations. Many people find a Chapter 7 bankruptcy or Chapter 13 bankruptcy is the only realistic means of resolving their debt. Others find their creditors are willing to work with their attorney to negotiate terms which provide some light at the end of the tunnel.

Free Debt Analysis and Consultation – Salt Lake City, Ogden, Provo

Don delay in getting free help from experienced bankruptcy lawyers in Utah. Call our Utah law firm today for a free consultation and free debt analysis. We often provide late consultations and meetings for individuals looking to stop by our office after work. Call and speak with an advocate now by calling 801.413.1753. A Utah bankruptcy Lawyers at our office can be reached anytime 24/7. You can also fill out our Free Case Review on the side of this page and we will get back to you normally within the hour. Contact us today and Get Protected!