Displaying items by tag: Bankruptcy

How to Successfully get through a Chapter 13 Bankruptcy


Bankruptcy is never an easy thing to go through. While you do have some choices to how you want to get through a bankruptcy it is still going to be hard and require a lot of sacrifices. If you have chosen to go through with a Chapter 13 Bankruptcy make sure you talk with the attorneys at Robinson, Seiler & Anderson in Provo to walk you through the process and what will be expected of you. We have provided some tips for you to try to help you to successfully get through a Chapter 13 Bankruptcy.


Create a Strict Budget

Your Chapter 13 bankruptcy won't work if you can’t make your plan payments. It’s based on a two-part calculation, the amount of debt you must repay in the plan, and your income, or, ability to pay your debt. In Chapter 13, how much you’ll pay will depend on your disposable income. It’s calculated by deducting allowed monthly personal and household expenses from your monthly take-home income. That is why it is so important to take the time to create a strict budget and to stick to it. 


Court Appearances

You’ll have a minimum of two court appearances before your Chapter 13 plan is approved. The first is the 341 meeting of creditors that all filers must attend. The trustee appointed to your case will verify your identity, ask you questions about your paperwork, and allow any creditors in attendance to ask financial questions. At the confirmation hearing, the judge will decide whether your plan is feasible. Your creditors will have an opportunity to object to the plan beforehand. Such objections are often resolved before the confirmation hearing.


Be Proactive when Circumstances Change

Life happens. We never plan for someone to lose their job, fall ill, or have a family crises. Instead of not making your payments you have some options. Talking with the bankruptcy attorneys at Robinson, Seiler & Anderson in Provo can help you to decide what is best for you and your situation. Your options include:

·         Temporarily suspending or modifying your plan payments

·         Extending the length of your plan (but you can’t exceed the 60-month time limit)

·         Granting you permission to incur new debt, such as a replacement car loan, or

·         Allowing you to refinance an existing, pre-petition secured debt, like a mortgage.


Call our office today to learn more about Chapter 13 bankruptcy and what you can do today to better your situation.

How Bankruptcy can affect your Business





You will often hear a lot about personal bankruptcy and how it can affect your home and family, but what if you are an owner of a small business? The bankruptcy attorneys at Robinson, Seiler & Anderson in Provo can help you with all over your bankruptcies needs as a business owner. Below are just some of the things that could happen when you file for bankruptcy and the different types of bankruptcy to consider filing with a small business.


Filing Chapter 7 Bankruptcy

This type of bankruptcy is referred to as liquidation. Chapter 7 bankruptcy filing is suitable for a business that does not plan on staying open. This is because this type of filing does not include any type of repayment plan. This is the suitable choice for sole proprietors and small businesses. However, the bankruptcy code allows for the debtors to keep some “exempt property.” But with this type of filing, it is expected that there will be some sort of loss of property. Consulting with your attorney at Robinson, Seiler & Anderson in Provo before filing for a Chapter 7 bankruptcy is always recommended.


Filing Chapter 11 Bankruptcy

This type of bankruptcy allows your business to recover. So Chapter 11 is referred to as repayment and sometimes reorganization. The filing of a Chapter 11 bankruptcy is suitable for corporations and limited liability companies although some sole proprietorships have chosen to file Chapter 11. Because it allows an organization to recover and restructuring is included, Chapter 11 does involve additional scrutiny by the bankruptcy courts. Small businesses that file for Chapter 11 bankruptcy are treated differently than regular bankruptcy cases and are called a “small business case.” A small business case is referred to by the bankruptcy code as a case with a “small debtor.”


The Impact of Filing for Bankruptcy

In the case of a sole proprietor, if you as the business owner choose to file for Chapter 7 bankruptcy, the business automatically files, as well. This is the case because you are a sole proprietor. There is nothing that separates you, the owner, from the business. Because there is no separation when a sole proprietor files for bankruptcy, their personal credit standing is a risk. Chapter 11 bankruptcy is considered to be the choice for businesses with a large amount of assets. Although Chapter 11 bankruptcy affords your business the chance for reorganization and restructuring, it often is a complicated and costly process. You will need to retain an accountant and a bankruptcy attorney from Robinson, Seiler & Anderson in Provo to assist you with these matters although the bankruptcy code makes it possible for small businesses to file.

How to Help a Friend through Bankruptcy


Bankruptcy can be a hard process to go through. If you know someone who is going through the process of bankruptcy you will want to make sure that you are doing everything in your power to help them rather than hurt them. With the aid of the bankruptcy attorneys at Robinson, Seiler & Anderson in Provo and your support you can help them through this tough time in their life. Below are some tips on how to help your friend or family member through the bankruptcy process. 



The thing your friend might need the most is someone to just talk to and vent all of their stresses and anxieties to. Rather than just giving advice all the time, you may just want to sit back and listen to what they have to say. Talking about the situation has proven to help the individual deal with it better emotionally. Even though you can’t make the problem go away completely, listening can help more than you know. 


Financial Limitations

If you and your friend are used to going out and having a good time together, you need to be ready to adjust your lifestyle to fit theirs when you meet up. They are now going through a tough time financially and will need to adjust their spending habits. Don’t make them feel bad for not being able to go out as often as they used to. Instead it might be a good idea to start doing things at each other’s homes and staying in for the night. There are a ton of fun and cheap alternatives that can be fun for the both of you. 


Ask how you can Help

You will never know how you can help if you don’t ask. Let your friend know that you are willing to help take some of the burden off their shoulders within your means. You can do something as easy as contacting the bankruptcy attorneys at Robinson, Seiler & Anderson in Provo for your friend. This will help them get the knowledge and advice they need throughout the bankruptcy process. 


Be Encouraging

Your friend may not see what the future has in store for them after this dilemma is over. Try to keep them thinking positive and remind them of the financial freedom they have in store in the future. Help them to get in the habit of good spending and budgeting. This will keep them from ever encountering a bankruptcy in the future. 


The best thing you can do for your friend who is struggling through the bankruptcy process is to be there for them in any way you can. Let the bankruptcy attorneys at Robinson, Seiler & Anderson in Provo handle the legal aspects. We can get your friends and family started off on the right foot when it comes to their bankruptcy. Call or stop by our office today for more information. 


Bankruptcy Success Stories


Every Utah County attorney will likely tell you that bankruptcy is not too scary a prospect, and that it might actually be helpful. Even then, there are horror stories going around and various misconceptions about the process. For the business owner in doubt, it might be nothing, but knowing some of the biggest corporations in the world once survived bankruptcy can be a consolation. Here are a few examples:



General motors



One of the largest car manufacturers in the world, there is one of the most popular chapter 11 bankruptcy filings. They filed in 2009, with the case receiving attention because of the fact that they owed more debt to creditors than their monthly profits could cover. When they filed, the company was taken out of the Dow Jones Industrial Average market listings. Today, they trade on the New York Stock exchange and are still one of the biggest car manufacturing companies in the world.






The bankruptcy story of Kmart is one of the less well known, especially for those who do not ardently follow business. At the time, they were the largest retail business to ever file for bankruptcy. The intense competition from Target and Walmart means they could no longer maintain competitive pricing or attract customers. Even though the bankruptcy was highly anticipated, Kmart still operates today under the Sears Corporation.






Camera owners never stop to think about the financial situation of the company which gives them so much. In 2013, Kodak found themselves in trouble after they could not keep up with shareholder expectations. The bankruptcy came from the fact that many people in the years before had switched to digital photography, leading to a steep decline in the company sales since 2007. They have, however, since recovered and seem destined for greater things.



Marvel Studios



New age movie lovers might not remember this, but Marvel’s is one of the biggest success stories for a company to ever sign for bankruptcy. The movie company famous for some of the biggest hits in the past few years was once forced down an unexpected path after a series of failing productions. Two decades after almost going under from financial troubles in 1996, the company continues to thrive.


Other notable bankruptcy success stories include Macy’s and Chrysler. Even though these stories show that one can come out stronger at the other end, this can only happen with enough guidance.

A Guide to Filing for Chapter 13 Bankruptcy



Filing for chapter 13 bankruptcy is relatively straightforward, and the steps are the same for everyone. Even then, there are a few measures one might take, with the help of their Provo bankruptcy attorney, which could help make the process go much smoother. One of the basics of chapter 13 bankruptcy is the fact that one should repay all their debt within between three and five years under a repayment plan. This gives the individual enough time to formulate a plan for getting back on their feet. Here are some helpful considerations for those looking to get back to financial freedom.






The biggest advantage of this type of bankruptcy is that it provides relief from payments that seem unmanageable. Still, one is required to make regularly scheduled monthly payments. The amounts are determined through a formula that takes into account the amount of debt, and the ability of the individual to pay them back within the stipulated period. The formula also considers other factors, like income, expenses and other financial obligations. One’s disposable income will be used as the basis for setting this budget and payment amount. An attorney will be helpful at this stage, providing information on, for instance, what can and cannot be regarded as disposable income.






Chapter 13 bankruptcy involves a significant amount of paperwork and subsequently a lot of time. One must make sure to provide all the information about their financial situation, leaving nothing out. If they leave out anything, for instance a credit card that they are currently using to pay bills, this might result in severe consequences, even their bankruptcy request being cancelled. With this in mind, one must pay attention to such records as their bank account statements, proof of income and tax returns. This information must not necessarily be available on hand, but must be gathered before filing.




Lawyer up



A good lawyer not only provides guidance through the initial stages of the bankruptcy filing, but also through the deal with the court, and even after the confirmation of the bankruptcy status. There are many steps involved in the bankruptcy filing process, including the actual making of regular payments as per the trustee’s requests. Even with such strict guidelines, sometimes creditors might demand payments that are higher than previously agreed upon. A lawyer can, at such a point, help the debtor dispute an unfair claim.


Bankruptcy is a complex process, which gets much simpler with the help of an experienced and capable lawyer. Call Robinson, Seiler and Anderson today for any bankruptcy related questions.


Understanding Bankruptcy Basics





For business owners, the time spent growing and managing the business over the years might be worth too much to let go. Even with the cliché saying that failures should be seen as opportunities, watching everything crumble into nothing is a terrifying experience. During those impossibly dry patches, bankruptcy can sometimes be the best option. It is a difficult decision, but one that the business owner themselves must make. Still, with enough help and good advice, one can come out the other end safely. Are you looking for the most reliable Provo bankruptcy attorney? Here are some important basics.


Types of bankruptcy


Perhaps the most important step is to learn about the different types of bankruptcy. The most common types are chapter 7 and chapter 13. Under chapter 7, all non-exempt assets are liquidated to pay off the creditors. This is normally the simplest option for those who have a large amount of unsecured debt like medical or credit card bills, and little income. Chapter 13, on the other hand, reorganizes the debt using a repayment plan. This is the best option for those with income but want to avoid foreclosure, or those who need time to catch up on their debts.


Paying creditors


One of the mistakes people make is attempting to pay off some debts before they sign for bankruptcy. This is normally the case for debts owed to friends, family or close associates. When one files for bankruptcy, trustees will scrutinize payments made to determine whether there were any preferential payments made. These preferential payments will likely be taken back and redistributed among all the creditors. If these close associates, friends or family cannot come up with the payments on time, then they could be sued to recover the payments.




Contrary to popular belief, filing for bankruptcy is relatively inexpensive. In fact, filing for chapter 7 bankruptcy means one does not have to pay anything more than the basic case filing, administrative and trustee surcharge costs. Even then, these charges can be paid in installments, to be completed 120 days after the petition in not more than 4 installments.


Dispelling the myths


Other popular myths include the fact that bankruptcy hurts one’s spouse, which is not true. For those married, unless the debt is in both the individual and the spouse’s names, then there is no spillover to the other person. For debts that are in both names, the bankruptcy should be filed together.

Benefits of Filing Bankruptcy



Filing bankruptcy can often be intimidating. You may feel lost and confused as to how you have reached the point of debt to get you to the point of bankruptcy. You can have peace of mind during the bankruptcy process by consulting with a bankruptcy attorney at Robinson, Seiler & Anderson, LC in Provo. We can walk you through the bankruptcy process and help you get the advice you need. We have listed some of the benefits of filing bankruptcy below to give you some peace of mind. 


End Hassling Phone Calls

Creditors are known for calling at all times during the day throughout the week. The stress of their constant reminders of the debts you owe doesn’t help the situation you are in. When you file for bankruptcy the automatic stay in bankruptcy law makes it illegal for creditors to continue those calls or any other form of harassment. 


Keeping your House and Car

A myth about bankruptcy is that you will lose all of your valuables. As long as your house doesn’t have a large amount of equity and you aren’t facing foreclosure you will be able to keep your home when filing a chapter 7 bankruptcy. Depending on the value of your car, there are exemptions that will allow you to keep that as well. For more information on a chapter 7 bankruptcy and keeping your home and vehicle, consult with one of our bankruptcy attorneys for more information. 


Get rid of Unsecured Debt 

The amount you owe on credit cards or any debt that isn’t backed up by collateral can be completely liquidated if you qualify for Chapter 7 bankruptcy. The only payment that will be received is from any seized property, which is unlikely to happen.


Help with Secured Debt

Now that your unsecured debt is wiped away you can manage to make payments on your secured debt. Secured debt often included a monthly car or mortgage payment. 



While you wait to find out if you qualify for chapter 7 bankruptcy you have some time to relax from the financial pressures and get your finances in order. You will no longer be receiving hassling phone calls and you can focus on getting back on your feet. 



Bankruptcy can be daunting. Getting informed and educated on the process can help you to get through the process. Make sure you consult the bankruptcy attorneys at Robinson, Seiler & Anderson in Provo. Our experienced attorneys can give you the advice you need to start off on the right foot. 

Rebuilding after Bankruptcy


Often time’s life can get hectic, we can get behind on bills and our debt seems to be out of control. While there are some aspects of life that we can’t control, there are solutions to help you get out of the debt that seems to be controlling your life. At the law firm of Robinson, Seiler & Anderson, LC, our Provo Bankruptcy Attorneys help people obtain debt relief under the U.S. Bankruptcy Code. Our attorneys will examine your financial situation, explain your options and make recommendations. We offer a free initial consultation to discuss your bankruptcy case. Below are some steps to take after the bankruptcy has taken place. 


Let Go of the Guilt

It is normal to feel guilty or shameful when filing bankruptcy. Although you feel like you failed, you are not alone and it is not all your fault. Life has many twists and turns and will often present financial situations we are not prepared for. Divorce, death, and medical problems are expensive. Everyone will encounter these problems at one point in their life. If you are forced to go forward with filing for bankruptcy it is important to try and stay positive. Having a positive attitude will help you in rebuilding your life. 



While going through the bankruptcy process you will have time to reflect and look at where your spending habits might have got you to where you are today. This will give you the opportunity to make this a learning process and be better educated in regards to necessary expenses in your life. 


Budget Planning 

After you reflect on your past, you can now start to rebuild your life and come up with a successful budget plan. The key to building up your credit is to come up with manageable payment plans of reoccurring bills and making sure you pay them on time. Work out a budget that you can stick to each month. Planning ahead of time and preparing for future bills and expenses will continue to keep you out of debt. 


Be Educated

While you are going through the bankruptcy process, ask questions and learn all the ins and outs you can. Knowing all of your options and how this process can work for you will help you in the future. At the law firm of Robinson, Seiler & Anderson, LC, our Provo Bankruptcy Attorneys can be a part of your education process. Our knowledgeable attorneys will answer any and all questions you may have. 

Bankruptcy Advice From Our Provo Bankruptcy Attorneys

Many people these days that are facing towering amounts of debt, think that filing for bankruptcy is their one and only option. Our Provo Bankruptcy Attorneys advice recommends becoming aware of the challenges that bankruptcy creates before they make a decision.


Bankruptcy is not going to be helpful for everyone. The American Bankruptcy Institute recommends that bankruptcy be an option for people who:

-       Have debt collections calling at their home or work.

-       Have lawsuits filed against them.

-       Have had their bank accounts frozen after judgments.

-       Have most of their debts in unsecured loans, such as medical bills or credit cards.


Our Provo Bankruptcy Attorneys offer the following advice for those thinking of filing for bankruptcy:


1. Evaluate your finances. Figure out what your total debts are. Look into what caused your financial problem and create a plan to how it can be avoided in the future.


2. Get your free credit report. Most people think that because creditors have stopped calling, that they no longer have any debts on their record to pay. This is a mistake. If you do not include all creditors on your bankruptcy filing, you could go through the entire process and still owe thousands in debt. Go to www.annualcreditreport.com to get an accurate list of all creditors you owe.


3. Inform ALL debt collectors and creditors. The Bankruptcy Law requires that all debt collectors must cease to try to reach you once a bankruptcy petition is filed.


4. Get your credit-counseling certificate. In order to file for bankruptcy, you first need to obtain a certificate that you have successfully completed credit counseling. If you do not get the certificate in time, it could cause delays, so don’t wait!


5. Get a Bankruptcy Attorney. Bankruptcy Laws are so complex, that it can be risky to file for bankruptcy on your own. Consult with a bankruptcy lawyer to make sure this is the right decision for you.

Chapter 7 Bankruptcy

If you have serious debt problems, filing Chapter 7 bankruptcy is the simplest and fastest way to eliminate your debt and get a fresh financial start. Filing bankruptcy will put an immediate stop to creditor harassment, lawsuits, repossessions, foreclosure and other attempts by creditors to collect debts that you owe.

At Robinson, Seiler & Anderson, LC, our Provo Bankruptcy Attorneys help people file Chapter 7 bankruptcy and get the fresh financial start they need. We offer a free initial consultation to discuss your bankruptcy case. Our attorneys will examine your financial situation and explain your options.

Am I Eligible to File Chapter 7 Bankruptcy?

You are eligible to file Chapter 7 bankruptcy as long as you do not earn more than the median monthly income in Utah for a family of your size. Even if you earn more than the median family income, you may still qualify depending on your disposable income. If your income is too high to file Chapter 7 bankruptcy, you may still be able to file Chapter 13 bankruptcy.

Will I Lose My Home, Car and Other Assets if I File Bankruptcy?

While the bankruptcy trustee can take certain assets and sell them to pay your creditors, many assets are protected by bankruptcy exemptions. Protected assets include:

  • Retirement savings in 401(k) and IRA accounts up to a certain amount
  • Up to $20,000 in equity in your home
  • Up to $2,500 in a car
  • Personal and household belongings up to certain amounts

If you are behind on your house payments, you can still lose your home if you are not able to make your payments. However, filing Chapter 13 bankruptcy will give you up to five years to get caught up on mortgage arrearages.

If you are making payments on a car, you can keep the vehicle as long as you reaffirm payments with the lender.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Contact Our Provo Bankruptcy Lawyers

To arrange a consultation with our Provo Bankruptcy Attorneys, call 801-375-1920 (888-866-3503 toll free).

Serving Provo, Orem, Park City, Heber City, Salt Lake City, Cedar City, American Fork, UT, and surrounding areas.

View Our Testimonials Announcement

Norman H. Jackson, Utah Court of Appeals Judge, Retired, has joined the law firm of Robinson, Seiler & Anderson, LC, effective April 2017.  Judge Jackson was one of the seven founding Judges of the Utah Court of Appeals and served terms as Presiding and Associate Presiding Judge.
Judge Jackson was the senior attorney in a Richfield law firm for eighteen years.  The firm engaged in legal, business and tax cases, including practice before State and Federal Courts, U.S. Board of Land Appeals, Utah Public Service Commission and Arizona Corporation Commission.  Clients included counties, cities, banks department stores, communications and credit associations, irrigation companies, auto dealers, building supply stores, farmers, ranchers and small businesses. They took “every type of case that came through the door,” from criminal defense work to a patent royalty dispute for the inventor of the Frisbee. Judge Jackson has been a lifetime rancher doing business in Utah as Jackson Cattle Company and Arizona as EJ Cattle Ranches.
Judge Jackson’s professional service includes terms on the Utah State Bar Commission, Bar Foundation (President and Vice President), Air Travel Commission, and Utah Information Technology Commission.  He served on the Judiciary’s Alternate Dispute Resolution Committee for thirteen years and initiated and supervised the Appellate Court Mediation Office.  He developed and advanced a realistic and workable framework for both of Utah’s Appellate Courts to use in reviewing trial court and administrative agency decisions.  He published three editions of Utah Standards of Appellate Review while participating in more than 2,000 appellate court decisions.  
Judge Jackson’s experience will complement the other outstanding lawyers at Robinson, Seiler & Anderson, LC.  The firm will continue its representation of injured individuals, as well as clients in real estate, business, estate planning, tax, contract and education matters.

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