Matt Wadsworth

Utah Bankruptcy Lawyer http://www.arnoldwadsworth.com/

"My name is Matt Wadsworth. I am a bankruptcy attorney with Arnold & Wadsworth and in the next few minutes I am going to be talking to you about losing property in a bankruptcy and saving your house. Another couple of questions I get asked often are whether or not bankruptcy can save my house and what property I can keep. Those are great questions especially considering that a Chapter 7 is generally a liquidation of your assets and then paying it to your creditors. And so a Chapter 7 and 13 generally are going to collect your non-exempt property and this is where the Utah statutes come into play because Utah has exempted certain properties from the bankruptcy estate. In other words the bankruptcy trustee or bankruptcy court can't take them from you. And so this often comes into play with regard to your house or a secondary property that you may have, even your car, your food in your house, food storage, and your clothes. A lot of the necessities that people need are already covered and will never be taken by the bankruptcy estate. This would include even musical instruments sometimes or fire arms and so a lot of the things that you really want to keep, they are not going anywhere. And items that are of nominal value that you would sell or see at a garage sale the bankruptcy court doesn't want those things. They just don't want them. It costs more money to take them from you and then sell them than they would ever re-coop and so there is a practicality for you to consider. This is especially important when we talk about a person's house which is often their greatest concern, it is where they live, it is where their children live. And a Chapter 7 or even a Chapter 13 can both save your house but they do it in different ways. Chapter 13 basically saves your house. There are no ifs, ands or buts about it. In a chapter 7 situation however, there is a period of time where you can enter into negotiations with your creditor whether it be Wells Fargo, Chase or Cypress Credit Union, it doesn't really matter. And during that stage you can talk about your payment terms. In order to maintain the loan on your house, the creditor has to have you sign a reaffirmation agreement. And so during that stage you basically re-open negotiations for your loan. Sometimes they can be modified. Sometimes the creditor is rigid though and does not do so and they do not have an obligation to change the terms. In a chapter 13 however, whatever amounts you are behind you automatically are brought current and this is one of the other perks of a Chapter 13. And so if you are behind on a house payment like what we have just been talking about or even a car, if you are a few months behind on a car, you will automatically be caught up on your payments. The amount or the arrears that you owe doesn't go away though. And so you have to pay it back in the 13 and that's where you pay it back over a course of three or five years or somewhere in between. So those are some things for you to consider but the takeaways, no you are not going to lose your stuff and you're not going to lose your house unless you really need to lose your house. And so that is something that we would discuss when you come into a chat with me. If you are in a situation where you are being garnished or you are about to be garnished, or your car is about to be repossessed, or you are in the middle of a foreclosure or about to go into a foreclosure. Please give me a call anytime. We are happy to answer any questions that you may have and we do give free consultations."

Arnold & Wadsworth Salt Lake City Office
510 S 200 W, #200
Salt Lake City, UT 84101
(801) 903-2616

298 24th Street
Suite #230
Ogden, UT 84401
801.475.0123


Share this video


Subscribe to our Salt Lake City Divorce Lawyer Channel
http://www.youtube.com/user/arnoldandwadsworth

Facebook: https://www.facebook.com/arnoldwadsworth
Twitter:

Utah Bankruptcy Attorney
http://www.youtube.com/watch?v=E4VEY9DuH4c

Salt Lake City Chapter 7 Bankruptcy Attorney http://www.arnoldwadsworth.com/

"My name is Matt Wadsworth and I am an attorney at Arnold & Wadsworth and over the next minute or so I am going to explain what a Chapter 7 Bankruptcy is. A Chapter 7 Bankruptcy is something that we call Straight Bankruptcy. It is really when we think of bankruptcy it is what we think of generally. It is where the bankruptcy court will appoint what's called a trustee which is just really a private attorney generally, like me. Who is given special authorization from the federal government basically, to act as a third party intermediary and this individual compiles all your non-exempt property and then distributes it to your creditors. That is a Chapter 7 Bankruptcy. If you complete the process successfully, if you are honest about it and you receive a discharge then you will no longer be under any obligation to pay your debts. If you are in a situation where you are being garnished or you are about to be garnished, or your car is about to be repossessed, or you are in the middle of a foreclosure or about to go into a foreclosure. Please give me a call anytime. We are happy to answer any questions that you may have and we do give free consultations."

Arnold & Wadsworth Salt Lake City Office
510 S 200 W, #200
Salt Lake City, UT 84101
(801) 903-2616

298 24th Street
Suite #230
Ogden, UT 84401
801.475.0123


Share this video


Subscribe to our Salt Lake City Divorce Lawyer Channel
http://www.youtube.com/user/arnoldandwadsworth

Facebook: https://www.facebook.com/arnoldwadsworth
Twitter:

Salt Lake City Chapter 7 Bankruptcy
http://www.youtube.com/watch?v=FA88itO_UfQ

Salt Lake City Bankruptcy Lawyer http://www.arnoldwadsworth.com/

"My name is Matt Wadsworth. I am a bankruptcy attorney at Arnold & Wadsworth and over the next three minutes I am going to be explaining a Chapter 13 Bankruptcy and the reasons why it would work for you. In a Chapter 13 Bankruptcy there is time and place appointed, generally between three and five years where the debtor or debtors will be making a payment to the bankruptcy trustee. If the debtor or debtors successfully make these payments they will receive a discharge at the end of that period. During that process though, there are some very interesting things about the Chapter 13 that you should consider. In the Chapter 13 there is one perk called a co-debtor stay, let me break this down for you really quick. A husband files under a Chapter 13, any co-existing debts between the husband and the wife that exist a creditor cannot pursue the wife even if the wife defaulted. That is one of the perks of a Chapter 13. It comes in to play in very intricate fact, situations but sometimes it can be a God-sent. Another perk of a Chapter 13 is something that we like to call a cram down provision. Cram down is used usually for cars. If you have purchased a vehicle outside of two and a half years ago, the bankruptcy will automatically reduce the amount that you own on that vehicle to the amount that it is worth. So that can come into play, if that works for you and your situation. If you bought a Lexus three or four years ago and it is now worth $20,000 less than your debt is worth this would be a good perk of a Chapter 13 because all that over secured amount would be gone, it would just vanish. The other perk of a Chapter 13 that you need to consider is the lien voiding provisions which generally are there just for your primary residence in which case if you have a secondary lien, like a second mortgage or a home equity line of credit. If the value of your house is worth less than what you owe on the first lien, the second lien is automatically removed without you ever paying a dime on it as long as you pay your Chapter 13 payment. Those are the main perks of a Chapter 13 that you should consider. They are quite rare in my experience but sometimes they can be great for different individuals. If you are in a situation where you are being garnished or you are about to be garnished, or your car is about to be repossessed, or you are in the middle of a foreclosure or about to go into a foreclosure. Please give me a call anytime. We are happy to answer any questions that you may have and we do give free consultations."

Arnold & Wadsworth Salt Lake City Office
510 S 200 W, #200
Salt Lake City, UT 84101
(801) 903-2616

298 24th Street
Suite #230
Ogden, UT 84401
801.475.0123


Share this video


Subscribe to our Salt Lake City Divorce Lawyer Channel
http://www.youtube.com/user/arnoldandwadsworth

Facebook: https://www.facebook.com/arnoldwadsworth
Twitter:

Salt Lake City Bankruptcy Lawyer
http://www.youtube.com/watch?v=11XpLuS1mo4

Family Law Attorney Salt Lake City http://www.arnoldwadsworth.com/
Can Your Spouse Kick You Out of Your Home?
When you are going through a divorce, a husband and wife can not kick the other spouse out of the home. If the home is where you have established a marital residence, neither party needs to vacate unless their is a court order.

Even if only one of the parties are on the title of the home, it is still an asset of both parties, and neither has the right to eject the other party.

When you hire Arnold & Wadsworth as your Family Law Attorney in Salt Lake City and become part of our family you can be sure that your case will be handled with effeciency and professionalism. We spend quality time with clients to assess the individual needs of our clients during the consultation stage and throughout your case.

With over 35 years of trial practice and litigation experience, Arnold & Wadsworth brings big firm expertise to you at affordable rates. Contact us now and talk to an attorney about your case and learn how we can help you through these difficult times.

Arnold & Wadsworth Salt Lake City Office
510 S 200 W, #200
Salt Lake City, UT 84101
(801) 903-2616

Arnold and Wadsworth Ogden Office
298 24th Street
Suite #230
Ogden, UT 84401
801.475.0123

Share this Family Law Attorney Salt Lake City video
http://youtu.be/oPHnUuCKLoU

Subscribe to our Salt Lake City Divorce Lawyer Channel
http://www.youtube.com/user/arnoldandwadsworth

Facebook: https://www.facebook.com/arnoldwadsworth
Twitter:

Family Law Attorney Salt Lake City

Salt Lake City Divorce Attorney http://www.arnoldwadsworth.com/
How Much Does A Divorce Cost?
The cost of obtaining a divorce will vary based upon each case. All domestic cases in Utah have to go through mediation. This means that you will be paying for your attorney and for a mediator.

The amount of marital assets and other factors, such as custody will determine the amount of work needed to conclude your case. We have an initial retainer that will usually get most people through the pleading stage and through initial discovery.

When you hire Arnold & Wadsworth Salt Lake City Divorce Attorney and become part of our family you can be sure that your case will be handled with effeciency and professionalism. We spend quality time with clients to assess the individual needs of our clients during the consultation stage and throughout your case.

With over 35 years of trial practice and litigation experience, Arnold & Wadsworth brings big firm expertise to you at affordable rates. Contact us now and talk to an attorney about your case and learn how we can help you through these difficult times.

Arnold & Wadsworth Salt Lake City Office
510 S 200 W, #200
Salt Lake City, UT 84101
(801) 903-2616

Arnold and Wadsworth Ogden Office
298 24th Street
Suite #230
Ogden, UT 84401
801.475.0123

Share this Salt Lake City Divorce Attorney video
http://youtu.be/4Ty-csAZo8g

Subscribe to our Salt Lake City Divorce Lawyer Channel
http://www.youtube.com/user/arnoldandwadsworth

Facebook: https://www.facebook.com/arnoldwadsworth
Twitter:

Salt Lake City Divorce Attorney

Divorce Attorneys in Salt Lake City http://www.arnoldwadsworth.com/
How Do I Win My Divorce Case?
The way to win your divorce case is by following the advice of your attorney and making sure that you are following all requests of the court. Often times, clients would rather do what they would like, which works against their own best interests.

Lawyers understand what the judges and commissioners want, and can provide you with the best council. Not following the orders of the court or the advice of your attorney can cause you to lose your case.

When you hire Arnold & Wadsworth and become part of our family you can be sure that your case will be handled with effeciency and professionalism. We spend quality time with clients to assess the individual needs of our clients during the consultation stage and throughout your case.

With over 35 years of trial practice and litigation experience, Arnold & Wadsworth brings big firm expertise to you at affordable rates. Contact us now and talk to an attorney about your case and learn how we can help you through these difficult times.

Arnold & Wadsworth Salt Lake City Office
510 S 200 W, #200
Salt Lake City, UT 84101
(801) 903-2616

Arnold and Wadsworth Ogden Office
298 24th Street
Suite #230
Ogden, UT 84401
801.475.0123

Share this Divorce Attorneys in Salt Lake City video
http://youtu.be/7sLor7Txnfk

Subscribe to our Salt Lake City Divorce Lawyer Channel
http://www.youtube.com/user/arnoldandwadsworth

Facebook: https://www.facebook.com/arnoldwadsworth
Twitter:

Divorce Attorneys in Salt Lake City