Bankruptcy Lawyers in Iowa
Bankruptcy Attorneys in Iowa
“I feel like I’m drowning.”
That’s what so many of our clients say when they walk through our doors for the first time. If you are worried about paying your bills, fearing your car might be repossessed, or wondering how you will provide for your family, you might feel this way too.
The truth is it can simply become impossible to pay off debt and still have money left over for necessities—especially after experiencing job loss, divorce or serious illness. Living in debt also prevents you from saving for future emergencies or retirement. You aren’t doing yourself or society any favors by continuing to drown.
Here’s the good news: After just an hour of talking to our experienced legal team, these same clients tell us they feel like they can breathe again.
You have options. There is a way out of this. The hardest part is calling our office to set up your free consultation with a bankruptcy attorney.
How Does Bankruptcy Work?
Bankruptcy is a debt relief choice to think about if your financial commitments are too much for you to handle. It is a court-supervised process allowing individuals to wipe out or reorganize their debts.
Bankruptcy filing is a surprisingly popular method of managing debt, even though it is occasionally viewed as a humiliating last resort. However, filing bankruptcy will stop any collection actions taken by your creditors.
Filing for bankruptcy will initiate a bankruptcy proceeding that consists of several stepts. A court-appointed bankruptcy trustee and a bankruptcy court judge will examine the debtor’s assets and liabilities. There are other steps, though. For instance, as a debtor, you’ll need to go through credit counseling, gather the necessary paperwork, and attend a meeting with creditors.
Different Types of Bankruptcy in Iowa
Individuals in Iowa can file for bankruptcy under Chapter 7 or Chapter 13. Under Chapter 7 bankruptcy, the court will assign you a trustee. Their job will be liquidating your non-exempt assets to repay creditors in a particular order. Not all assets will be sold, and you will be able to keep some of them. However, your income must be low to qualify for Chapter 7 bankruptcy.
On the other hand, Chapter 13 bankruptcy is also known as a reorganization bankruptcy or a wage earner’s plan. Instead of selling assets, a repayment plan is created to repay debts over a certain period of years. It’s a good option if you have a regular income.
How Can an Experienced Bankruptcy Attorney Help?
We can help alleviate some or even all of your debt. Although it may not feel like it, there are options available to help you get through this. Once you retain us as your bankruptcy lawyer, you can direct creditor calls to our office (no more harassment on your cell phone from creditors!) while we work to prepare you for a fresh financial start based on your individual situation.
Here’s what you don’t have to worry about:
- That we will be shocked (and you will feel shame) when you tell us how much debt you have. Trust us, we’ve been doing this for 50 years, and we have helped a lot of people with A LOT of debt. You are not alone, we will not be shocked, and we are here to help.
- That you will lose your house or your car. We have never had a client give up a piece of property they didn’t choose to give up on their own.
- That your credit score will plummet. Finding a way to address your debt is likely to help your credit score—not hurt it.
Moreover, if you are struggling with student loans, there have been recent changes to federal law that may allow you to discharge those loans through bankruptcy! This window of opportunity may close soon, so if student loans are stressing you out, please call our office so we can discuss your case.
For more information about bankruptcy or no-obligation case evaluation, contact us today.
Dustin was Excellent – professional, thoughtful, empathetic. Would definitely refer him to others.
The care and knowledge I received before and during my bankruptcy with your firm was 100% helpful.