Utah Bankruptcy Guy Website

We just launched a new interactive website for the Utah Bankruptcy Guy. If you get a chance check it out https://utahbankruptcyguy.com . The site will be the home of the UtahBKLawyer blog from now on. As you know we recently moved to our new location at 1215 S Main Street, Orem, UT. But our phone number remains the same 801-221-9911.

Utah Bankruptcy Guy

New Logo, New Location, Same Great Service

We just moved and wanted to let you know. After 17 years in our last location, The Law Office of Douglas Barrett, LLC, has moved to our new location in the center of all the great things happening in Orem. Click HERE to watch the video press release. We are now located at:

1215 S Main Street
Orem, UT 84058

The map to the Utah Bankruptcy Guy located in Orem, UT

We have been pleased to work with you, your family and friends during the years and just wanted to take a moment and Thank You for your trust and support. We hope this new location, located just off University Parkway in Orem will be our home for another 20 years. If you are ever in the area, stop by and check out the new office to say Hi – we would love to catch up with you.

Again thank you for the years of support,

Douglas “The Bankruptcy Guy” Barrett
Attorney at Law

A little help

Sometimes even Jack and Diane need a little help….Give us a call today to see if we can help you in your situation. 801-221-9911


What kind of bankruptcy should I file?

Let us help you choose the path to your financial recovery.  Call today to set up your consultation 801-221-9911.


Three Ways To Improve Your Credit Score After Bankruptcy

Good financial habits must be cultivated and maintained over time in order to raise your credit score after you file for bankruptcy.

Here are three simple steps that can help you improve your credit rating.
1.Pay your debts early and religiously to make sure you are always in good standing.
2.Getting a secured, affordable loan and paying it back early can help rebuild trust between you and your creditors. It will also help restore your credit history.
3.Monitor your credit report regularly and take immediate, corrective measures as soon as you find it going off track.

Like most good things in life it takes effort on your part to elevate your credit score.  With a little effort I see most of clients raise their scores dramatically in the months after they receive their bankruptcy discharge.


Finally keep in mind,  just because you have had to file for bankruptcy protection does not mean that you are left to a life of no more credit.  After your bankruptcy you will be on a much firmer financial footing and most creditors will see you as a sound financial risk.  In Utah remember when you think of bankruptcy think first of the UTAH BANKRUPTCY GUY.

Your Retierment Account in Bankruptcy

In Utah when facing a debt crisis, the decision to use or not to use your retirement account to bail you out of the crisis is an important one. Too often we see prospective bankruptcy clients come into the office who have just recently cashed in their retirement accounts in an attempt help them survive their financial problems only to realize that they are still in a mess even after draining their retirement accounts. The decision to use these funds may prove to be an unfortunate one, especially if the retirement funds only acted as a patch and not a cure for the financial problems.

We see individuals and families who have cashed in all their retirement plans and life insurance policies, and have merely pushed themselves into a do over level just prior to considering filing for bankruptcy.  This usually comes from the common misconception that you cannot file for bankruptcy protection if you have money in retirement accounts. The fact, in Utah, most retirement accounts, pension plans, and even life insurance policies are protected from creditors and are not taken in a bankruptcy filing. This means that you don’t have to give up your retirement accounts when you file for chapter 7 or chapter 13 bankruptcy. ERISA qualified retirement accounts such as: 401(k), 403(b), Roth IRA, SEP, SIMPLE IRA, Keoghs, profit-sharing plans, money purchase plans, and defined-benefit plans usually do not impact your ability to file for bankruptcy, and are not taken in a bankruptcy to pay your creditors. In most cases these retirement plans are fully exempted from a bankruptcy filing.  If you are in financial trouble and considering using your retirement funds as a temporary patch come in and visit with us – its a free consultation. Call now 801-221-9911.

Can I have too much debt to file for bankruptcy?

This is a common question here at the office: Is there a certain amount of debt that somebody needs to have before they can file a Utah bankruptcy. The answer is that there is no minimum amount of debt that is required to file for bankruptcy protection.  Sometimes you can actually have too much debt to file for Chapter 13 bankruptcy.  As with most simple answers in the law, however, it can be more nuanced than that, so speaking with a knowledgeable bankruptcy lawyer is always helpful.

Bankruptcy and Divorce

More often than not divorce and financial difficulties go hand in hand. If you think about it this makes sense, because when two people who had previously been sharing at least some of their living expenses decide to part ways and establish separate households, each of them becomes responsible for paying for everything that they then need. For this reason, some people file for bankruptcy after they get divorced.
There are also situations in which a couple considering divorce goes through bankruptcy together before the divorce. Couples who have chosen to proceed with bankruptcy before filing for divorce often have positive things to say about what happened as a result of their decision to do things in that order. Financial problems can be a huge source of disagreement among spouses, and many couples say an inability to see eye to eye on financial matters was a major reason for their divorce. When a couple files for bankruptcy while they are married, they get an opportunity to eliminate some of the stress of their financial problems which can make their divorce process go smoother.

If you and your spouse are considering both bankruptcy and divorce, a pre-divorce bankruptcy could enable each of you to be better off financially whether you eventually divorce or not. Going through a bankruptcy together helps some couples to work through issues that had been affecting both their marriages and their finances. If you are thinking about filing for bankruptcy, give us a call at 801-221-9911 and set up a free consultation.  We can help you decide whether filing for bankruptcy is the right thing to do.

If I’m married do I have to file bankruptcy with my spouse?

Do I have to file bankruptcy with my spouse?

No, the United States Bankruptcy code does not require married couples to file together. However, in most of the cases I see, both spouses usually choose to file together. But there are exceptions, such as recent newlyweds, sometimes only one spouse files thereby preserving the credit standing of the other, non-filing spouse. You do need to know that the bankruptcy code requires all household income must be included in the “means test” calculations when determining whether a debtor is eligible for a Chapter 7 bankruptcy case or if a Chapter 13 bankruptcy should be filed.

The bankruptcy code mandates that total household income must be included in the calculations however expenses for non-filing household members can also be deducted from the calculations. The bankruptcy means test is very complicated. We will perform a full means test calculation at your Free initial consultation.  Call to set up your free consultation now 801-221-9911.

Will I lose my car if I file for bankruptcy?

What will happen to my car if I file for bankruptcy?

I get this question all the time. “I need my car to get to work – will I lose it if I file for bankruptcy?” That’s a loaded question and hard to answer in 30 seconds. What you need to understand that every case is different but in most cases you can choose a type of bankruptcy that will allow you to keep the car. However, sometimes it’s not the best financial move to keep the car and we will discuss that in our first consultation.