Planning ahead to Protect your Tax Refunds:
Iowa Bankruptcy Fees
Iowa Bankruptcy: Quick SummaryEligibility for Chapter 7 Bankruptcy in Iowa Check your Gross family income (includes child support, overtime etc.) against the chart below. If you are below the median income you should have no difficulty getting a full discharge through Chapter 7 Iowa bankruptcy. If you are above median income, be sure to tell Jeff before you come to the office..
Your gross annual income for bankruptcy purposes is BASED ON THE PAST SIX MONTHS. So don't rely on last years income unless it is the same as this year. It is best to total your gross income for the past six months and double it to get your "bankruptcy income". Exclude Social Security Income Pre-Filing Credit Counseling You can do your required credit counseling class online for about $36 before coming to my office. You can just bring the hard copy of your certificate(s) when you come to the office. You can get your certificate(s) online at www.cricketdebt.com or in person here in Des Moines at www.consumercredit-dm.com. Joint couples require two certificates. Office Appointment You will bring your fees ($1,806 total) and the documents listed below to Jeff's office. Jeff will go through your case in detail before accepting your fees. If you are not eligible, Jeff will not accept your fees and you pay nothing. If you are eligible, Jeff will do your entire petition during this appointment. That way we can file your case quickly and you are not sitting at home filling out a long, confusing packet. We don't use packets. All appointments are at 4800 Mills Civic Parkway, Ste. 218, West Des Moines, IA 50265.
Hearing Jeff will attend your bankruptcy hearing with you. There is no Judge or courtroom, just a trustee who will ask if you listed all your bills, all your assets, how much you had in your bank accounts on the day of filing and so forth. Jeff will assist you if creditors appear or the trustee is concerned about any issues on your bankruptcy. Discharge About 9 weeks after your hearing you will receive your discharge order in the mail meaning you are no longer responsible for the debt. If you continue to receive bills from any of your discharged creditors you can just send them to us and we will take care of them. Questions? Email Jeff at jeff.mathias@gmail.com. I look forward to helping you!
13 Tips for a Smooth Iowa Chapter 7 BankruptcyKeep it Simple. If you are under median income, as most of the people who need to file are, chances are you will have no problem getting a discharge as long your case is properly prepared. Be sure to consider all your income including overtime, child support any rental income etc. Take your gross household income (before taxes and deductions) for the past six months and double it, then compare it to the Iowa median income chart on this page. It's all about documents now. Be sure to bring 60 days worth of pay stubs (if you receive pay stubs), your Federal and State tax forms (1040’s) and the other listed documents. Even solid cases are sometimes dismissed for lack of documents. The more time you spend researching the more comfortable you will be. Time spent surfing around this site helps. The unknown stresses us the most. The most common problem is recent credit card use. Courts do not like it when people load up on purchases/cash advances/balance transfers and then file bankruptcy. It makes the Judge cranky. Don't make the Judge cranky. The second most common problem is defective pre-bankruptcy planning. Transferring property to someone else, titling a car in your sons name, taking money out of the bank and hiding it; these things are bad. The best way to make sure you include all your bills is to have them neatly organized before coming in. We will enter each one in turn followed by collection agencies, if any. If you also have a master list you have prepared you can compare your list to the petition while in the office. It totally bums me out when people are stuck with bills that could easily have been listed and discharged if they had been better organized. When we meet we will list all your property so we can claim it as exempt. You will be estimating values. For example, we will list the values of your furniture and appliances. We use market values meaning what you could sell it for. That means listing it on Craigslist or selling it at a garage sale. No need to stress over whether you could get $1,500 or $2,500 for your furniture and appliances. Just make the best estimates you can as we go. Once you know you need to file, putting it off will only make things worse. The average client tells me they should have filed a year earlier, before they suffered through bank or wage garnishment, the stress of many sleepless nights and harassing creditor calls. When clients leave my office after we have prepared the petition for filing they are a different person, relaxed and looking forward to a smooth discharge. You can't really bring too much paperwork to our meeting. If you are not sure if you need something, like a hard copy of your pre-filing certificate(s) bring it. Don't feel like you have to set your appointment 30 days ahead, too much changes. Just wait until you have everything together and then email with the day you prefer, usually 7-10 days ahead is fine. Due to cancellations short notice is sometimes possible too. Leave Early. In your bankruptcy as in other important events your life, leaving early, allowing time for traffic & construction and building in time to relax, use the restroom, and get a refreshment just before the meeting will reduce your stress. Take full advantage of this opportunity. You can not file bankruptcy again for 8 years. Take a hard look at income and expenses. Many people keep homes or cars they cannot really afford and end up back in a financial hole again. Email questions to Jeff before coming in. Especially if you are over median income or have something unusual about your case like owning a rental property or expecting an inheritance. It’s best to resolve questions early. Also- Check Jeff's Iowa Bankruptcy Blog for the most recent postings and updates. HonestyWhether due to job loss, illness, divorce or wages that simply do not keep up with increased cost of living, many individuals and families in Iowa find themselves in financial distress. Constant phone calls, lawsuits, judgments, liens, wage and bank account garnishment, calls at work that can threaten your job security, foreclosure and eviction are all problems Iowa individuals and families find themselves in when overwhelmed with unmanageable debt. Our Courts and Judges, the United States Trustee’s Office, the Panel Trustees, the Clerk of Court and your Attorney are all interested in assisting honest debtors in getting relief from burdensome debt, getting back on track financially, and planning a brighter financial future. As a debtor taking advantage of this opportunity, you have an obligation to be completely truthful and cooperative with your attorney and in all other matters related to your case. You must fully and accurately disclose all of your assets, income and all claims you have against others and comply with all document or other requests of the Trustees. The success of my firm and my ability to continue to represent honest, well intended clients depends of my accepting only clients who will take a completely honest approach. - Jeff Mathias We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
| |||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||
| |
||||||||||||||||||||||||
| ||||||||||||||||||||||||
Visit our Des Moines Iowa Bankruptcy Office
Somerfield Village
|
