Category Archives: Bankruptcy
Can Bankruptcy Wipe Out All of My Debts?
If you are having trouble paying your bills, especially in the midst of the COVID-19 pandemic, you may be wondering if bankruptcy can help. Most individuals file for either Chapter 7 or Chapter 13 bankruptcy. In a Chapter 7 case, known as a liquidation, a judge will “discharge” your obligation to repay certain debts… Read More »
How Can the Automatic Stay in Bankruptcy Protect Me From Creditor Harassment?
Thousands of Iowans are struggling to make ends meet due to the economic shock of the COVID-19 pandemic. If you suddenly find yourself behind on your mortgage, rent, car payments, or other bills, you may be wondering if bankruptcy is an option. Of course, you should always speak with a qualified bankruptcy attorney before… Read More »
Will Filing for Bankruptcy Give Me More Time to Get My Home Out of Foreclosure
Filing for Chapter 13 bankruptcy can help you in keeping secured assets such as your home or other real property with an outstanding mortgage. Keep in mind, even a successful Chapter 13 bankruptcy will not eliminate your mortgage debt. But filing for bankruptcy does impose an “automatic stay” that gives you a certain amount… Read More »
Will Missing Financial Records Hurt My Chapter 7 Bankruptcy Case?
Chapter 7 bankruptcy is designed to give Iowa debtors a “fresh start” by discharging their legal obligation to pay certain pre-bankruptcy debts. But a federal bankruptcy judge may refuse to grant a discharge if the debtor fails to follow the law. For example, the Bankruptcy Code states a debtor is not entitled to a… Read More »
Does Filing for Chapter 13 Bankruptcy Mean I Get to Keep My House?
Perhaps the most common question we get about bankruptcy is, “Can I still keep my house?” The answer to this depends on a number of factors. For example, if you have a mortgage and are behind on your payments, filing for bankruptcy will temporarily halt any foreclosure action. And with a Chapter 13 bankruptcy,… Read More »
Will Bankruptcy Prevent Creditors from Garnishing My Wages?
In a previous post, we explained some of the basics of Iowa’s bankruptcy exemptions, specifically as they applied to a debtor’s house and personal automobiles. But another common question we get is, “What about my weekly pay?” Many people file for bankruptcy protection because they fear their creditors may attempt to garnish their wages…. Read More »
Can I Keep My House and Car If I File for Bankruptcy in Iowa?
The first question many clients ask us with respect to bankruptcy is, “Can I keep my house?” Or if they do not own a house, maybe they’ll ask about keeping their car or property necessary to run their business. Basically, there is a lot of confusion surrounding what property a debtor may keep when… Read More »
When Can I Discharge a Student Loan in Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is designed to give Iowa debtors a “fresh start” by discharging their legal obligation to repay most of their unsecured debts. Unfortunately, one of the biggest sources of personal debt–student loans–enjoys special protections under federal bankruptcy law. As a general rule, a debtor cannot discharge a student loan unless they can… Read More »
What to do When You Cannot Make Payments on Your Chapter 13 Repayment Plan
Chapter 13 bankruptcy is a debt relief method that allows a debtor to repay all or a portion of his or debt over a period of three to five years. Typically, a person chooses to file a Chapter 13 instead of Chapter 7 because he or she has enough disposable income to make monthly… Read More »
The Fair Debt Collection Practices Act (FDCPA): An Overview
In order to deter collection agencies from engaging in abusive collection practices in the United States the Federal Government has instituted several laws. Arguably the most notable of these laws is The Fair Debt Collection Practices Act (FDCPA) of 1978 which was established in order to help protect those who are delinquent on their… Read More »
