When you file for bankruptcy, collections must halt. This is thanks to the automatic stay that kicks in when a debtor seeks bankruptcy protection. While the bankruptcy itself is quite complex and complicated, there is no doubt about what an…
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If a debtor has a default judgment against them, it may affect the bankruptcy process
Default judgments typically mean a debtor is quite advanced in the collections process. Creditors do not like placing a default judgement, but they will if a debtor demonstrates they are unwilling or unable to pay. One of the ways to…
What is involved in foreclosure?
One of the most common questions debtors have when they speak to an Iowa bankruptcy lawyer is, “What is involved in foreclosure?” Declaring bankruptcy is a stressful thing to do: with so many details, documents, rules, regulations and various meetings,…
Bankruptcy causes high stress and health problems
Foreclosures create health problems. A foreclosure impacts people’s lives in many ways not easily visible. Imagine facing foreclosure, losing what you worked so hard to attain. That is a 10 on a scale of 1 to 10, with 10 being…
Deed in lieu of foreclosure is a good option, if it works
Foreclosures across the nation have been creeping up every year. Even though the economy is beginning to show some signs of recovery, there are still many people in over their heads in debt. This will likely still be the case…
It is not in your best interest to file Chapter 7 without legal advice
Many people think they can file bankruptcy on their own, without the help of a qualified Iowa bankruptcy lawyer. This is not a wise decision. While there are some enterprising individuals who may be able to handle filing a Chapter…
You May Check the Status of Your Bankruptcy Case Online
If you have trouble finding information about the status of your bankruptcy filing, you may track your status online. Public Access to Court Electronic Records, also referred to as PACER, provides a debtor access to the information needed to keep…
Aware of Someone Fraudulently Hiding Assets While Declaring Bankruptcy? Report It.
Perhaps you were told a story while visiting someone who had filed for bankruptcy protection. He may have mentioned to you that he was hiding a piece of property, and did not declare it when he filed. He is committing…
It is Possible to Start Rebuilding Your Credit Rating After Bankruptcy
Many people believe that once they have declared bankruptcy, they will never again have a “good” credit rating. This is a myth. A debtor’s credit rating can be hit with as much as a 100-point deduction. However, the credit rating…
Inheritance May Affect Bankruptcy Filing
Filing bankruptcy is complicated, and receiving an inheritance does affect your filing. Receiving an inheritance before, during or after a bankruptcy may end up giving the debtor some difficulties. How that inheritance is treated when the debtor files a Chapter…
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