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If you are struggling to make ends meet and are considering filing for protection in bankruptcy, you may be holding back out of fear that you will lose everything you have. In a Chapter 7 bankruptcy, however, you can permanently discharge some debts, but keep certain assets, including your principal home, vehicle and many personal belongings.
In fact, a new statute in Utah that is applicable to bankruptcy proceedings has increased the dollar amounts for exempt property in a Chapter 7 bankruptcy. An experienced and knowledgeable bankruptcy attorney can help you understand your options so that you can determine whether bankruptcy makes sense for you.
At the Law Firm of Ryan E. Simpson LLC, I bring over 18 years of experience to individuals throughout the Utah area, including people seeking to permanently discharge debts under Chapter 7 of the federal bankruptcy laws. When you hire me to guide you through a personal bankruptcy, I will provide you with one-on-one attention and quality legal representation you can count on. To schedule a free 30-minute consultation, contact my office or call me at 801-432-8682. Learn more at http://bnkut.com
My Chapter 7 Bankruptcy Practice
In a Chapter 7 bankruptcy, you can permanently discharge certain debts. Some obligations, including child support arrearages, student loan payments, and certain tax debts, may not be eliminated in bankruptcy. Likewise, specific property, such as principal residence, vehicle, and some personal property, may be exempt from any bankruptcy sale.
Under the recent revisions to the federal bankruptcy law, you must now qualify to file for protection under Chapter 7 by completing a "means test." The bankruptcy court will look at your situation and make a determination as to whether you have the means to repay your creditors over a 3 to 5 year period under Chapter 13, instead of discharging your debt under Chapter 7.
When I work with you, I will conduct our own means test before you file, so that you know whether you qualify for a Chapter 7 filing. I handle all matters related to the bankruptcy, preparing and submitting all required documents and representing you in the meeting with the bankruptcy trustee prior to discharge. I will also make certain that you understand which debts you can extinguish through bankruptcy, as well as which assets can be protected in a Chapter 7 filing.
I am available to consult with you at any of three convenient locations in the Utah area. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.