Category Archives: Bankruptcy
“Best Effort” Requirement In Chapter 13 Bankruptcy
When debts become overwhelming, individuals have the option of filing for bankruptcy. Two of the commonly filed bankruptcies in Iowa and the U.S., in general, are Chapter 7 and Chapter 13 bankruptcies. Generally, every debtor seeking financial relief would want to file for Chapter 7 bankruptcy. However, not everyone can qualify for Chapter 7… Read More »
How Does Bankruptcy Affect Co-Signers?
Usually, individuals without a strong credit score need co-signers when applying for loans. A co-signer is a person who is contractually responsible for paying off a loan when a primary borrower fails to pay back the particular loan. If you had someone cosign a loan for you, you must understand how some things can… Read More »
Here’s Why You Need To Be Honest With Your Iowa Bankruptcy Attorney
If you are in Iowa and are struggling with overwhelming debt, keep in mind that filing for bankruptcy can offer you financial relief. Chapter 7 bankruptcy can offer you the opportunity to eliminate qualifying debts, while Chapter 13 bankruptcy can offer you the chance to have qualifying debts re-arranged. Once you decide to file… Read More »
Declaring Bankruptcy On Medical Bills: Is It Possible?
As soon as the COVID-19 pandemic hit America, many Americans lost their jobs, and, unfortunately, the loss of jobs came with the loss of health insurance coverage. Because of the loss of health insurance coverage, medical debt began piling up. According to a USA Today article, by September 2020, medical debt had risen slightly… Read More »
Chapter 13 Bankruptcy: Some Crucial Information About The Confirmation Hearing
An Iowa Chapter 13 bankruptcy can help a debtor by allowing them to repay some or all their debts through a repayment plan. Usually, a Chapter 13 repayment plan lasts for approximately three to five years. However, before a debtor can start making repayments based on their Chapter 13 repayment plan, a judge must… Read More »
Can Bankruptcy Affect My Children?
If you are currently struggling financially, filing for bankruptcy can grant you the opportunity to reorganize your debts or have your debts forgiven. However, as much as bankruptcy can highly benefit you, you need to be aware of some of the repercussions of bankruptcy. You must consider these repercussions before you set out to… Read More »
Can I File for Bankruptcy Without My Spouse?
Because Iowa is not a community property state, spouses are only responsible for each other’s debts if they assume those debts; for instance, by co-signing on a loan. Therefore, married couples do not have to file for bankruptcy together in Iowa. Generally, it makes the most sense to file for bankruptcy with your spouse… Read More »
Exposing Common Bankruptcy Myths
When contemplating whether to file for bankruptcy, many people feel worried or scared because of what they read or heard about bankruptcy. For example, you might have heard or read that you will never obtain credit again if you file for bankruptcy. Such information can scare you and make you forgo this debt relief… Read More »
Inheritance and Bankruptcy: What Happens When You Receive an Inheritance During Your Bankruptcy Case?
Bankruptcy is meant to help you to discharge or re-arrange overwhelming debts fairly. To ensure fairness, Iowa courts balance helping debtors eliminate or re-arrange debts and gathering some money for creditors to share. For this reason, when you file for bankruptcy, all your non-exempt assets or property become part of the bankruptcy estate. Since… Read More »
Can I File for Bankruptcy in Iowa Without an Attorney?
Since people consider filing for bankruptcy because of financial hardship, it is only natural that you wonder whether you must hire a bankruptcy attorney. You have the right to file for bankruptcy without an attorney because, in the United States of America, bankruptcy filers are allowed to do so “pro se.” The phrase “pro… Read More »
