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The IRS offers a new Offer in Compromise standard as part of its Fresh Start Program
In the last few weeks the IRS has rolled out some wonderful announcements on its Fresh Start program, that include more favorable qualifications for its Offer in Compromise (OIC) program. Every day I have clients ask me about the tax commercials promising to settle your IRS tax debt “for pennies on the dollar.” The reality ...
Octomom’s Bankruptcy Dismissed by Court!
Yesterday, Octomom’s bankruptcy case was dismissed by the Court and this leaves her exposed to her creditors. The reports coming from the media are stating that she failed to file the necessary paperwork. Every time a case is filed in the bankruptcy court, it is necessary to file paperwork by certain timelines. Many of ...
Bankruptcy in Utah: Do spouses have to file together?
Often I meet with married couples and they state that only one of the individuals in the marriage would like to file for bankruptcy. They ask if only one spouse can file and how that may effect their protections under the bankruptcy rules. This is typical when one spouse has a large majority of the ...
Prebankruptcy Planning
When weighing what to do with your assets going into bankruptcy it is paramount that you strategize with an experienced bankruptcy attorney. Basically there are two kinds of debts, secured and unsecured. Secured debt has been advanced to you, secured by the collateral that you have pledged. A creditor holding a security interest in your collateral ...
What Are My Inheritance Rights?
Inheritance Rights Inheritance rights are an important issue to understand in relation to estate planning and probate matters. When there is no will or a will is determined to be invalid, inheritance rights will be of the utmost importance as the probate court determines how to distribute assets and property. Each state has different rules that apply here and ...
Pharma Ads Downplay Drug Injury Risks
It’s no secret to personal injury lawyers that pharmaceutical companies prefer to downplay the drug injury risks of their products. That’s the reason why so many advertisements for pharmaceutical products have an announcer intoning a list of side effects and risks associated with the product, while pleasing visual images flicker across the screen, and even more pleasant music plays ...
How Long Before the Bankruptcy Process is Complete?
While it’s possible to get debt relief in a matter of months, the length of the bankruptcy process will depend on what chapter is filed. Whether it’s Chapter 7 or Chapter 13, each option offers relief under different rules and it may depend on the amount of debts included in your filing. Chapter 7 is commonly filed and it is ...
What if my auto insurance doesn’t fully cover my accident?
Recently, I have been asked, “What if my auto insurance doesn’t fully cover an accident I caused?” This very question has brought more people to my bankruptcy practice that typically would not find them selves in a bankrupt situation. So lets take a look at what the State of Utah requires, what that means and ...
