Category Archives: Uncategorized

Medical Bills

What is it that leads someone into filing bankruptcy? Bad spending habits? Recklessness? Credit cards? Wrong. In 2013 the foundation NerdWallet published a report stating that medical bills were the primary cause of bankruptcy filings. The report estimates that 3 … Continue reading

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Loan 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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Transferring Assets

One of the most hot button topics in the bankruptcy world is the disposal of assets by people who are going to be filing for bankruptcy. Every so often I am asked by folks who are considering bankruptcy as a financial … Continue reading

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What are you afraid of?

The Wall Street Journal is reporting that David Cassidy, famous from The Partridge Family is filing for bankruptcy. In his bankruptcy filing, Mr. Cassidy reported assets and debts each between $1 million and $10 million. Among his largest unsecured creditors are Wells … Continue reading

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Cram down that Clunker

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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Book of Mormon Stories

A Wall Street Journal blog post discussed an interesting bankruptcy case in Illinois. Anna Robinson filed for chapter 7 bankruptcy protection earlier in 2014. When you file for bankruptcy, all of the property you own becomes property of the bankruptcy estate. … Continue reading

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The New Mafia

The Salt Lake Tribune reported yesterday that payday loans in Utah now average 466 percent annual interest, according to a new report issued by the Commissioner of Financial Institutions for the State of Utah. The report said the highest interest charged on … Continue reading

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