Category Archives: Bankruptcy
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 »
What Is Bankruptcy Fraud–and How Can I Avoid It?
Filing for bankruptcy is a stressful activity. Many Iowa residents enter the bankruptcy process without much knowledge of the law or what it requires of them. In some cases, a debtor will make an honest mistake in filling out a form or making a required disclosure. This, in turn, may lead a creditor or… Read More »
Do I Qualify for Chapter 7 Bankruptcy? And What Are My Options If I Don’t?
A Chapter 7 bankruptcy allows you to discharge most, if not all, of your outstanding unsecured debts, such as credit card bills. However, federal law requires you to satisfy a “means test” before you can actually file a Chapter 7 petition. The basic idea behind the means test is that higher wage earners–i.e., people… Read More »
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 »
