Category Archives: Uncategorized

Sharks

According to a study commissioned by the Utah Department of Financial Institutions, Utah pay day loan companies charged an average of 473.52 percent interest. “At least one Utah payday-loan company charged an astronomical 1,564 percent annual interest last year — meaning it collected … Continue reading

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A New Beginning

Most everyone has heard by now that the city of Detroit is going through bankruptcy. On December 3, 2013 U.S. Bankruptcy Judge Steven Rhodes held that the city of Detroit can move forward in reorganizing their financial affairs through the … Continue reading

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Thanksgiving Proclamation

“No human counsel hath devised nor hath any mortal hand worked out these these great things. They are the gracious gifts of the Most High God, who while dealing with us in anger for our sins, hath nevertheless remembered mercy.” … Continue reading

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Protection

One of the primary reasons individuals, couples, and businesses file for bankruptcy is to receive protection from their creditors. Upon filing bankruptcy all creditors must stop every form of collection- whether it be foreclosure, repossession of property, wage garnishments, and … Continue reading

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Cram down for Clunkers

A few years ago the U.S. government established a program called ‘cash for clunkers.’ Essentially, the idea was to provide economic incentives to U.S. residents to purchase a new, more fuel-efficient vehicle when trading in a less fuel-efficient vehicle.  The program was … Continue reading

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Your Credit

A credit score is a numerical expression based on a level analysis of a person’s credit files, to represent the creditworthiness of that person. A credit score is primarily based on credit report information typically sourced from credit bureaus. Lenders, … Continue reading

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The Student Loan Monster

Most people are aware that, typically, student loans cannot be discharged through the usual bankruptcy process. Instead, Congress requires student loan borrowers to initiate an adversary proceeding, a separate lawsuit filed within the bankruptcy case, in which they have to … Continue reading

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The Means Test

The Huffington Post is reporting today that David Adkins (aka “Sinbad”) filed for Chapter 7 bankruptcy in California. Sinbad’s case, in my view, completely underscores the unfairness of the 2005 amendments to the bankruptcy code known as the Bankruptcy Abuse … Continue reading

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Debtors Prison

credit: http://philoforchange.wordpress.com There was a great article in the Salt Lake Tribune today about small claims courts and bench warrants. The article discusses several cases where debtors were locked up in handcuffs upon entering the court house to argue their … Continue reading

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Utah legislature increasing bankruptcy exemptions

The Utah Legislature is about the pass a bill that increases the following exemption amounts for personal bankruptcy: Increases homestead exemption from $20,000 to $30,000 per individual; Increases vehicle exemption from $2500 to $3000 per individual; Increases furniture and other … Continue reading

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