What happens to my 2022 tax refund if I file bankruptcy in 2023?
Robert S. Payne - My Utah Bankruptcy Blog
by robertspaynelaw
2w ago
You lose it, unless you spend it first. If you look below, there is a fairly comprehensive list showing how you can spend those refund monies. (No, you can’t save it. No, it’s not protected government aid money to you. You must dispose of it before filing bankruptcy!!!). Each year, I update this post. Last year, we had pandemic tax refund monies that changed the calculation. This is not the case in 2023. Here is last year’s post: What happens to my 2021 tax refund if I file bankruptcy in 2022? Some states will give you an exemption to protect your tax refund monies. Utah is not one of them ..read more
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Will we lose our WIC benefits if we file for bankruptcy (December 2022 update)?
Robert S. Payne - My Utah Bankruptcy Blog
by robertspaynelaw
1M ago
No. Bankruptcy discharges your financial obligations to creditors for debts such as medical bills and credit cards. It does not negatively impact your ability to receive government assistance or public assistance. WIC (for those of you who don’t know), stands for “Women, Infants, and Children” and is The Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) provides Federal grants to States for supplemental foods, health care referrals, and nutrition education for low-income pregnant, breastfeeding, and non-breastfeeding postpartum women, and to infants and children u ..read more
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If I file for bankruptcy, how will it affect my spouse?
Robert S. Payne - My Utah Bankruptcy Blog
by robertspaynelaw
3M ago
Hopefully, it won’t affect your spouse at all. Your bankruptcy case is filed under your name and your social security number and only affects your credit. However, there are a lot of caveats to this. That’s why you really, really need to talk to an attorney and disclose everything before you decide whether or not to file. Income — Even though you’re the only one filing bankruptcy, we still need to look at household income. Your spouse’s income may push you over the brink of a simple chapter 7 case into a more complicated chapter 13. And yes, you will have to provide at least a couple of your ..read more
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Should I surrender my financed car before or after I file bankruptcy?
Robert S. Payne - My Utah Bankruptcy Blog
by robertspaynelaw
4M ago
AFTER!!! I have a current client who is getting ready to file. He has 2 financed vehicles: a 20 year old BMW and an 8 year old Toyota Tacoma. One of them is a lemon and has required transmission repair 3 times in the past year. The lemon is currently taking up one of his 2 assigned spots at his apartment, and he wants it gone now. However, we won’t be filing bankruptcy for another week or so. What surprised me about the scenario is that his Toyota is the lemon. Who would’ve thought that the boring, dependable Toyota truck would be the problem here? That BMW probably looks fantastic, but when ..read more
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My bankruptcy case was just dismissed because I forgot a filing fee payment. What do I do?
Robert S. Payne - My Utah Bankruptcy Blog
by robertspaynelaw
5M ago
It depends. You can either: pay the filing fee and file a motion to vacate the dismissal, or file a new case and pay the full filing fee up front. So when I file a case, I can file an Application to Pay Filing Fees in Installments with the bankruptcy court.  This allows you to pay the $338 (for a Chapter 7) or the $313 (for a Chapter 13) with the court over two or three installments AFTER file the bankruptcy case. The biggest problem occurs when you forget to make one of the payments.  When you miss a payment, the case is automatically dismissed, and this administrative dismissal ..read more
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How fast can you file a bankruptcy case to stop a garnishment?
Robert S. Payne - My Utah Bankruptcy Blog
by robertspaynelaw
7M ago
Pretty darn fast. Honestly, I can prepare and file an emergency case the same day you call. But, and this is a big BUT, there are some things you need to do first. A full bankruptcy petition is a huge legal document. It is usually 65-85 pages long, not counting the copies of 6 months of your paystubs and your last 2 years of tax returns. Thankfully, you don’t have to file a full petition to stop a garnishment. You can file a skeleton, or skeletal petition, which is literally a bare-bones petition. What a skeletal petition needs: your name/social/address your online bk class certificate (this ..read more
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Is the bankruptcy trustee going to go through my Venmo, CashApp, and Paypal accounts after I file?
Robert S. Payne - My Utah Bankruptcy Blog
by robertspaynelaw
7M ago
Oh yes he is! And even worse, the bankruptcy trustee can take any money you have in hand or on deposit on the day we file. On the day we file bankruptcy, you don’t want to have much in the way of liquid assets (like cash or money on deposit on a bank account). In theory, the trustee can take the money you had on the day you filed and use it to pay creditors. This means Venmo as well! For instance, let’s say you file a chapter 7 bankruptcy today and have $1,500 in your bank account on the date of filing. Tomorrow, you spend that $1,500 on your monthly rent. One month later, when you meet with ..read more
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What happens if I do not reaffirm my home mortgage or my car loan? And why do they say I can make “voluntary payments” if I want to?
Robert S. Payne - My Utah Bankruptcy Blog
by robertspaynelaw
10M ago
Short answer: you can generally keep the car or home, so long as you keep paying on the loan Long answer: It’s complicated. When you file bankruptcy, it generally discharges, or wipes out, almost all of your debt. However, you can pick and choose which secured debts you’d like to keep. For example, if you want to keep your home mortgage or your car loan, you check a box that says, “reaffirm.” This lets the bank know that you want to sign an agreement AFTER filing the bankruptcy, where you promise to keep making the same payments, balance, schedule, etc. I’ve written a few blog topics on reaff ..read more
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Can the bankruptcy trustee take my spouse’s property if I’m the only one who filed bankruptcy?
Robert S. Payne - My Utah Bankruptcy Blog
by robertspaynelaw
10M ago
Maybe. It comes down to a lot of factors, but if you want to boil it down to a simple test, here it is: if it smells funny, then you’ve got a problem. If the property is clearly your spouse’s, was always theirs, you never helped pay for it, and they’ve owned it for some time, then you do NOT have an ownership interest. However, if you bought it together, or if you’ve made all of the payments on it, or if you gifted it to her, then you’ve got an ownership problem. When you file bankruptcy, your bankruptcy estate is created. This estate means all of your property, real, personal, and intangible ..read more
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What happens to my criminal restitution and bail bonds when I file bankruptcy? (video)
Robert S. Payne - My Utah Bankruptcy Blog
by robertspaynelaw
11M ago
Copyright © Robert S. Payne, Utah Bankruptcy Attorney. All Rights Reserved What happens to my criminal restitution and bail bonds when I file bankruptcy? (video) was first posted on March 11, 2022 at 10:00 am. ©2014 "robertspaynelaw.com My Utah Bankruptcy Blog". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at help@robertspaynelaw.com ..read more
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