No.

We have all heard that you lose the right to vote if you have a felony conviction.

Nothing, it’s safe.

The Utah Code specifically protects your year’s supply. In Title 78B 5-505, it states that there is a full exemption (protection from creditors) for “provisions sufficient for 12 months actually provided for individual or family use….”

This means that when you file bankruptcy, whether a chapter 7 or chapter 13 case, your bankruptcy trustee here in Utah cannot liquidate (or sell) your year’s supply of “provisions.”

No!

It is the chapter 7 trustee’s job to find and liquidate assets for the benefit of your creditors.

Yes (so long as the case is open).

I had this question today from a client who could’ve been a simple chapter 7 case.

I really, really hate this question, and I get it asked it more than you’d think.

Honestly, almost every bankruptcy attorney in Utah is good (at least the ones I know by name).

Maybe.

First, here’s what happens if you own it free and clear:

Maybe.

Bankruptcy will discharge your liability to the landlord for the remaining amounts owed on the lease or rental contract.

No.

I had a client ask me this question as we were walking into our 341 Meeting of Creditors with the Chapter 7 Trustee up in the federal building in Ogden.

Short answer:

The number is probably officially around 7%, but it’s a moving target.

One of the reasons the number is hard to really quantify is because payday lenders churn their loans (allow you to take out a new loan to pay off the old one).

Having read the articles below, all I can tell for certain is that there are very high interest rates being paid out by people stuck in the death spin of payday loans, and those borrowers are paying through the nose for them.