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Posts tagged "Bankruptcy"

What is the means test?

If you want to file Chapter 7 bankruptcy in Iowa, you must pass something called the means test. This was a requirement created when the bankruptcy laws were overhauled. According to NerdWallet, it is designed to help ensure only people who cannot afford to pay off their debts can file Chapter 7. If you do not pass the means test, you will have to file Chapter 13.

Separating bankruptcy fact from fiction

If you are like many people across Iowa who are considering filing for bankruptcy, you may feel fearful, anxious and uninformed. There are many misconceptions out there when it comes to the process, which can make it increasingly difficult to make a truly educated decision about whether it is the right move for you. At Janssen Law, PLC, we have helped many clients learn more about the steps involved in filing for bankruptcy while helping them separate myth from reality in the process.

What is a Chapter 12 bankruptcy?

If you are a family farmer in Iowa who is going through difficult financial times, be aware that there is a bankruptcy procedure designed especially to meet your needs. As findlaw.com explains, it is called a Chapter 12 - Adjustment of Debts of a Family Farmer with a Regular Annual Income. Congress authorized Chapter 12 in response to the many family farmers who are in financial crisis but have too much income to qualify for a Chapter 13 bankruptcy.

Which debts can bankruptcy wipe out?

If you find yourself among the many Iowans who feel they are drowning in overwhelming debt, first, know that you are not alone. Second, recognize that it is not at all uncommon to rack up a considerable amount of debt, and that it does not indicate that you are a failure in any way, shape or form.

Which debts can bankruptcy wipe out?

If you find yourself among the many Iowans who feel they are drowning in overwhelming debt, first, know that you are not alone. Second, recognize that it is not at all uncommon to rack up a considerable amount of debt, and that it does not indicate that you are a failure in any way, shape or form.

How bankruptcy can stop creditor harassment

Many people in Iowa and throughout the United States are overwhelmed with credit card debt, medical expenses, mortgage payments, student loans and other types of financial burdens. If you are one who struggles to make your monthly payments on time, you may have been contacted by creditor regarding your delinquent balance or missed payments. In some cases, however, creditors can cross the line from notifying you of the late payments and harassing you with threats and other tactics used to scare you.

How bankruptcy can stop creditor harassment

Many people in Iowa and throughout the United States are overwhelmed with credit card debt, medical expenses, mortgage payments, student loans and other types of financial burdens. If you are one who struggles to make your monthly payments on time, you may have been contacted by creditor regarding your delinquent balance or missed payments. In some cases, however, creditors can cross the line from notifying you of the late payments and harassing you with threats and other tactics used to scare you.

Should I file Chapter 7 or Chapter 13 bankruptcy?

If you are preparing to file for bankruptcy in Iowa, you likely have a lot of questions. One of the most common concerns is which type of bankruptcy is the best to file for. The answer to this question will depend on your circumstances and financial situation. The American Bar Association lists the differences between these two types of bankruptcy so you can be prepared to apply for the best option for you.

Should I file Chapter 7 or Chapter 13 bankruptcy?

If you are preparing to file for bankruptcy in Iowa, you likely have a lot of questions. One of the most common concerns is which type of bankruptcy is the best to file for. The answer to this question will depend on your circumstances and financial situation. The American Bar Association lists the differences between these two types of bankruptcy so you can be prepared to apply for the best option for you.

The difference between secured and unsecured debt

If you are considering declaring bankruptcy, you might be confused by the many new terms and phrases you need to understand. One of those may be secured and unsecured debt and how they relate to bankruptcy. Knowing the differences between these can have a big effect on your choices moving forward. At Janssen Law, we try to make sure all Iowa citizens have all the information they need to successfully navigate the intricacies of a bankruptcy declaration.

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