Our attorneys are able to assist you if you or your family is contending with overwhelming debt or experiencing harassment from debt collectors or cases of fraud.
If you or your family is contending with overwhelming debt, or you are struggling to meet the minimum monthly payments and coping with these issues has become too much to handle, in some situations, bankruptcy may be your best option. This process will allow you to discharge, or eliminate, your debts or create a payment plan that will give you peace of mind and allow you to regain control of your finances. The Neighborhood Law Group of Iowa can help you file for Chapter 7 or Chapter 13 bankruptcy.
A Chapter 7 bankruptcy is generally known as the “Fresh Start” bankruptcy and is the most common type of filing. This process allows a person to eliminate most or all of their debt while keeping the property they may have. Unsecured debts such as credit cards, medical bills, and personal loans are eliminated. In many cases, you keep your home and car so long as you continue to make payments toward those obligations. Unfortunately, Chapter 7 does not get rid of student loans, income tax debts assessed within the past three years, or any other tax obligations, alimony or support payment obligations, or fines, penalties or criminal restitution obligations. A Chapter 7 bankruptcy filing is usually completed within a few short months.
A Chapter 13 bankruptcy is commonly known as a personal reorganization. This process enables individuals and families with regular incomes to repay their debts over a period of time. Chapter 13 bankruptcy consolidates your debts into one monthly payment. The process can help individuals restructure their tax debts, avoid foreclosures, and manage out-of-control debt. Chapter 13 bankruptcy is appropriate when an individual’s monthly expenses exceed his or her monthly income. It allows someone with a regular monthly income to design a plan to repay all or part of his or her debt. A Chapter 13 bankruptcy filing usually takes place over a 36 to 60-month period, dependent upon the amount of debt and income.
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As a consumer you have rights under both Iowa and Federal Law. These include protections from fraud, deceptive practices, and false promises. Additionally, there are special provisions covering new vehicle purchases, commonly referred to as Lemon Laws.
State and Federal laws also prevent debt collectors from harassing you in their attempts to collect their consumer debts. For instance, once you have retained an attorney they can no longer contact you directly. Debt collectors also cannot call you repeatedly or tell you that you may be arrested if you do not pay their debt. They cannot disclose your debt to others.
If a debt collector is engaging in any type of behavior that you feel is harassing, or If you believe you have been harmed in a recent consumer transaction, schedule a free consultation today with the Neighborhood Law Group of Iowa to regain control of your life.