Is Bankruptcy Attorney Ryan E. Simpson Right For Me?

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Based in Utah, bankruptcy attorney Ryan E. Simpson assists residents of West Jordan and the surrounding counties through the bankruptcy process by providing counsel and representation during tough financial crises.

In order to lend some clarity to certain issues, we provide these answers to commonly asked questions. Please keep in mind that no single answer to any of these questions fits everyone’s unique situation. If you face mounting debt or harassment from creditors, and wish to discuss filing for bankruptcy, contact bankruptcy attorney Ryan E. Simpson for a free consultation.

  • General Bankruptcy Questions
  • Chapter 7 Bankruptcy Questions
  • Chapter 13 Bankruptcy Questions
  • General Bankruptcy Questions

    Below are some general questions to ask your bankruptcy attorney.

    What is the creditor’s role in bankruptcy?

    Generally, once you file for bankruptcy under either Chapter 7 or Chapter 13, creditors may not call you regarding collections, and may no longer initiate new legal proceedings or continue with proceedings they have already started, including wage garnishments. This injunction is referred to as an “automatic stay.” In fact, once you are under the protection of the bankruptcy court, you will most likely only have to deal with the court and designated bankruptcy trustee, rather than the creditors themselves.

    If a creditor continues to pursue collection efforts after being informed of the bankruptcy proceedings, the creditor may be liable for court sanctions as well as damages under the Fair Debt Collection Practices Act. Let us, the bankruptcy law firm in Salt Lake City, know immediately if a creditor continues to attempt to collect on your debt after bankruptcy proceedings have begun.

    Will filing for bankruptcy affect my credit?

    Your credit has probably been affected by your present situation; likewise, your credit will be affected if you decide to file for bankruptcy. However, bankruptcy can be an effective way to regain control of your finances and provide a fresh start for handling mounting debt. Although initially, your credit score may decrease, many debtors find that their credit scores begin to improve not long after they file for bankruptcy. It is important to note that most types of bankruptcy will stay on your credit report for a period of up to seven to ten years (see below for more specific information regarding Chapter 7 and Chapter 13 bankruptcy). In some cases, the time period can be reduced. Learn more at

    What assets are exempt from bankruptcy?

    Exempt property generally includes your home, the items inside your home, your car, and your retirement accounts. In certain circumstances, you may also be able to keep some monetary assets. Determining which property is exempt can be a complicated matter that is heavily dependent on the specifics of your situation; an experienced attorney can examine your assets and advise you as to what property you will likely be able to keep.

    What are debts non-dischargeable through bankruptcy?

    Under the Federal Bankruptcy Code, Congress has determined that certain types of debt are not dischargeable in bankruptcy for public policy reasons. The debtor must still repay these debts after bankruptcy. For example, the following debts are not dischargeable in bankruptcy:

    • Spousal support (alimony) and child maintenance and support obligations

    • Most tax liability, although there are some exceptions

    • Government-backed student loans

    • Debts incurred by fraud or intentional wrongdoing

    • Criminal fines and restitution

    What is a fraudulent transfer?

    A creditor or bankruptcy trustee may allege that a fraudulent transfer occurred if you donated some of your assets prior to filing for bankruptcy, leaving nothing to pay your creditors. However, sometimes actions are brought in relation to good faith transfers, in which a debtor has simply given more generously than he or she should have. We can assist you if a creditor or bankruptcy trustee attempts to recover property that you gifted in good faith.

    Are there alternatives to filing for bankruptcy?

    Yes. Bankruptcy may not be for everyone. Some people do not qualify for bankruptcy, while others may conclude that the burdens of filing for bankruptcy outweigh the benefits. Many simply prefer not to file for bankruptcy. As an alternative to bankruptcy, you may choose the process of debt negotiation or loan modification, in which a qualified bankruptcy attorney negotiates with your creditors to reduce your debt. Learn more about Ryan E. Simpson at

    If a particular bill collector is threatening you in violation of the law, or attempting to collect more than you owe, we may be able to use the Fair Debt Collection Practices Act to stop any illegal collection activities.

Utah Chapter 7 & 13 Bankruptcy Lawyer Ryan E. Simpson

Each year, hundreds of thousands of Americans find themselves unable to keep up with their bills and must decide whether to file bankruptcy. Filing bankruptcy can have far-reaching consequences, so it is important to be fully informed of your options before making such a decision

At the law firm of Ryan E. Simpson, we offer a free consultation with an attorney to explore both your bankruptcy and non-bankruptcy option so that you can make an informed decision. You do not have to go through this process alone. We are here to help. Call us today.

Chapter 13

  • Reorganization
  • Eliminate second mortgage and line of equity
  • Stop foreclosure
  • Stop repossession
  • Deal with tax debt

Chapter 13 Bankruptcy provides many benefits to the debtor in an effort to reorganize his/her debts. To qualify for a Chapter 13 Bankruptcy a debtor must have a regular income. The debtor must have regular income because under Chapter 13 he/she must file a plan to repay debts using future earnings. Some of the benefits that can be realized by the debtor include: (1) consolidation of debts into one monthly payment; (2) prevention of home foreclosure or repossession of a vehicle; (3) prevention of seizure or levy by the IRS; and (4) creation of manageable payment plans for government student loans and domestic relations payments. Learn more at

Similar to Chapter 7 Bankruptcy, Chapter 13 also offers automatic stay protection from creditors under 11 U.S.C. §362. The automatic stay protection under Chapter 13 protects the debtor from collection efforts throughout the duration of the plan. Contact us today to learn more about whether filing a petition for Chapter 13 is the right option for you.

Chapter 7

  • Fresh start
  • Stop creditor calls
  • Stop garnishments
  • Eliminate debt from credit cards, medical bills, foreclosure deficiencies, repossession deficiencies, personal loans, and some taxes

Chapter 7 Bankruptcy offers a fresh start to debtors who can receive a discharge of some or all of his/her debts. To receive a discharge means that the debtor will no longer have a legal obligation to pay the debt that has been discharged. Certain debts cannot be discharged through such as (1) certain taxes; (2) debts obtained by fraud; (3) domestic support obligations; (4) debts incurred by willful and malicious injury caused by the debtor to another entity; etc. 11 U.S.C. §523.

In order to receive a discharge of debts, the debtor will be required to turn over his/her assets to the trustee assigned to the case. A bankruptcy trustee is someone who supervises the administration of the bankruptcy estate. Some of the debtor's assets are exempt and therefore not included in the bankruptcy estate. In Virginia, the following are some of the assets which are exempt: (1) real or personal property up to $5,000 in value; (2) household furnishings up to $5,000 in value; (3) equity in an automobile up to $2,000 in value; (4) tools of the trade necessary for the debtor's occupation up to $10,000 in value; etc. Va. Code §34. The non-exempt assets will be sold by the trustee with the proceeds being paid to the creditors.


One of the advantages of filing for Chapter 7 Bankruptcy other the than the discharge of debt is the automatic stay in effect upon filing of the case. The automatic stay stops creditors from attempting to collect the debts while the debtor is in bankruptcy proceedings. 11 U.S.C. §362. Chapter 7 Bankruptcy is a powerful tool that can be used to help individuals overwhelmed by debt get a fresh start in obtaining financial stability. Contact us today if you would like to learn if Chapter 7 Bankruptcy is the right option for you.