How Can You Reclaim Power Over Your Finances Through Bankruptcy?
The process to file for bankruptcy can be filled with confusion, shame and misunderstanding. Some people even see it as a failure, but it isn’t. For someone who is unable to pay their bills or for someone struggling with debt, bankruptcy can be a fresh start. As a bankruptcy attorney for over three decades, I’m used to answering questions related to this area of the law. Read below to find answers to some commonly asked bankruptcy questions, or send me your questions online.
What are the different types of bankruptcy?
There are several different types of bankruptcy filings, including Chapter 7, 11, 12, 13 and more. However, the majority of my clients file for Chapter 7 or Chapter 13 bankruptcy because those designations are some of the most common for individuals. If you call my office, located in Council Bluffs, Iowa, at 712-325-1400, I can help you determine which filing is best for your situation.
How can I stop creditors from calling me?
Once you file for bankruptcy, creditors must stop calling you. If they continue to harass you after you have filed for bankruptcy, your attorney may be able to take further legal action to protect you. In addition, when you let a debt collector know you’ve hired me as your attorney, they should stop contacting you and reach out to me instead.
How long will I have bad credit after filing for bankruptcy?
Ultimately, it depends on your situation. For many people, their credit score recovers within three to five years. However, filing for debt repayment under Chapter 13 bankruptcy may decrease the negative impact on your financial status. Call an attorney to learn more about what the long-term impact on your finances may be.
Will I lose large assets such as my car, my house, my boat or my camper if I file for bankruptcy?
It depends on what type of bankruptcy you file for, but you will be able to keep any assets that are secured loans for which the creditor has a lean on the collateral. The idea that you will lose your home, car or other large assets is a misconception about the bankruptcy process. I can help assess your situation and to help you determine whether chapter 13 or chapter 7 bankruptcy is right for you.
Let’s Discuss Your Questions Today
I understand that filing for bankruptcy can feel like jumping off a cliff into the unknown, but it doesn’t have to. My firm can help ensure you have a soft landing and a strong financial future. Call me directly at 712-325-1400 or send me a message so that I can respond as soon as I am able to do so.