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Understanding Iowa Consumer Bankruptcy

As an individual, as opposed to a company or corporation, there are two main types of bankruptcy available to you. One is liquidation, or Chapter 7 bankruptcy and the other is repayment or partial repayment, or Chapter 13 bankruptcy.

I am Kristina Kaeding; I founded my firm, Kaeding Law Office, PLC, so that I could offer people who were struggling for a way to get out from under heavy debt and start fresh. I offer personal attention to each client and each case. I know the decision to file is a difficult and emotional one. I can help you find the balance.

Who Should File For Bankruptcy?

Not everyone who has debts is a good candidate for Chapter 7 or Chapter 13 bankruptcy. In some cases, there may be enough resources to create payment plans with creditors and pay off what you owe. However, if you are facing foreclosure, repossession or wage garnishment, these may be likely indicators that there are not enough resources available to cover the debt without filing for bankruptcy.

The Advantages Of Filing

There are many advantages to filing for Chapter 7 or Chapter 13 bankruptcy. The most important and immediate is stopping creditor harassment. Here are some other benefits to Chapter 7 or Chapter 13 bankruptcy:

  • Getting a clean financial slate
  • Having many of your personal assets exempt from liquidation in a Chapter 7 filing
  • Paying back what you can in Chapter 13 filing
  • Not having your bank account levied or your wages taken to pay creditors
  • Being able to keep your home and car
  • Stopping lawsuits and judgments

In some Iowa counties, your name will be printed once in the local newspaper two weeks after you file. In many other counties, including Pottawattamie, there is no public notice of your filing. Your employer is not given notice of your filing nor are any other people besides your creditors.

Get The Fresh Start You Need Today

The hardest part of bankruptcy for most people is making the decision to file. Once they have crossed that threshold, everything seems to fall into place so that they can get out from under crushing debt and start with a clean financial slate. As a focused and experienced bankruptcy attorney, I can help. Call 712-847-5882 or send me a brief introductory email, and we can talk about your options.

I am a debt relief attorney. I help people file for bankruptcy relief under the Bankruptcy Code.