You need straight answers as soon as possible. We provide many services for you ranging from personal to business bankruptcy to tax relief options.
Contact bankruptcy attorney, John Miller, now using the form below for a free consultation. We will examine your particular financial situation and advise you of all of your debt settlement, credit counseling, and personal or business bankruptcy options. We will take the time to answer all of your questions before you decide which action to take.
There are two main personal bankruptcy options available for people who want to consider bankruptcy in Iowa.
The most common personal bankruptcy is Chapter 7. Filing for a Chapter 7 bankruptcy in Iowa will discharge your personal liability for unsecured debts. In Chapter 7 bankruptcy, you do not repay your creditors.
The second type of personal bankruptcy is a Chapter 13 bankruptcy repayment plan. In a Chapter 13 bankruptcy, you repay your creditors in 36 to 60 monthly payments in an amount that fits your budget. This option may be necessary if you have a high income. According to Iowa bankruptcy law, everyone in Iowa qualifies for a Chapter 13 bankruptcy, regardless of income.
Bankruptcy may be a viable option to relieve or reorganize business debt. This is true whether you are a small business or sole proprietor, LLC, or corporation. It is not always necessary to cease doing business or close the business when you file bankruptcy for debt relief.
Contrary to what most people seem to believe, some taxes may be dischargeable in a Chapter 7 bankruptcy. Generally speaking, older income tax debts, if a tax return has been filed by the debtor, may be dischargeable.
974 73rd Street, Suite 15
West Des Moines, IA 50265