Category Archives: Bankruptcy
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 »
Dismissal Without Prejudice (What Is It in Bankruptcy?)
The primary purpose for filing for bankruptcy is to discharge debts. However, failure to comply with bankruptcy regulations or meet all requirements can lead to a dismissal. If you are fortunate, the court will dismiss your case without prejudice. Fortunately, when the court dismisses your bankruptcy case without prejudice, you can refile at any… Read More »
When is it Legal for Creditors to Garnish my Wages in Iowa?
When creditors decide to opt for wage garnishment to recover their money, your life will be negatively affected. For instance, wage garnishment can lead to an increase in debt when you have to borrow money to pay for your utility bills because the amount you receive from your paycheck after garnishment is inadequate. Sometimes… Read More »
What Is a Bankruptcy Discharge?
We often talk about obtaining a “discharge” in bankruptcy. But you may not understand the exact meaning of that word. Does a discharge mean that all of your debts are erased? Or can you still be required to pay back some of your creditors even after the bankruptcy ends? Releasing You From Personal Liability… Read More »
Iowa Debtor Beats IRS Claim in Bankruptcy Court
After a person files for bankruptcy, their creditors must file a document known as a “proof of claim” if they wish to get paid anything from the assets of the bankruptcy estate. As the debtor, you have the right to object to this proof of claim. Of course, you need to have a valid… Read More »
