A Chapter 7 bankruptcy is frequently referred to as a “straight bankruptcy” and is often the quickest and cheapest bankruptcy a person can file. In a Chapter 7 bankruptcy, the bankruptcy trustee gathers and sells the debtor’s nonexempt assets and uses the proceeds to pay creditors. The Utah Code outlines what assets are exempt including $20,000 equity in a primary residence. When debtors file together as a married couple, they are each entitled to certain exemptions and can, in essence, double some exemption amounts.