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 http://bnkut.com

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.