Helping People in Des Moines and Central Iowa Find Debt Relief
Are creditors and bill collectors calling you all the time? Are you falling further and further behind on your home mortgage, credit cards or other payments? At the Law Office of Tod J. Beavers we help clients determine if bankruptcy is the right solution by guiding you through a series of questions you should ask yourself to help understand the bankruptcy process.
If you are struggling with debt, bankruptcy may be the right option for you. Contact the Law Office of Tod J. Beavers at 515-875-4812 for a free initial consultation.
There are options and debtors do have rights. Here are a few of the most commonly asked questions we respond to regularly about the bankruptcy process.
Can I keep my home and car?
Chapter 7 bankruptcy liquidates unsecured debt like credit cards and medical bills giving the debtor a fresh start. If you qualify for Chapter 7 bankruptcy you may still be able to keep your home and car.
Does it matter what my income is for filing bankruptcy?
Debtors with primarily consumer debts may not qualify for a Chapter 7 bankruptcy if they earn more than the state median income. The income calculation is based on gross average income for the past six months and does not include social security or unemployment benefits.
A Chapter 13 bankruptcy is for people who have a steady income but are continually behind with bills. Under this option, a person reorganizes debt into smaller monthly payments with the intention that he or she will pay back a percentage of the debt over time (usually a period of three or five years). If the plan is completed, any remaining unsecured debt is discharged.
What does it cost to file for bankruptcy?
An affordable fixed or flat fee is available at the Law Office of Tod J. Beavers for uncontested personal Chapter 7 bankruptcies. The fee is $1200 which covers all costs incurred in filing for bankruptcy including the $299 filing fee. It does not include the required credit counseling and financial education course fees which normally cost less than $100. If the bankruptcy involves substantial business as well as personal debts the fee may be higher.
How long will the process take and how do I begin?
From the time of filing to the receipt of a discharge in Chapter 7 the process generally takes about three to four months. Begin the process by organizing your income, assets, expenses and creditors and contact us by phone or email to discuss if bankruptcy is the right option for you. Your initial consultation is free.
Law Office of Tod J. Beavers, P.C.
*Disclaimer: We are a debt relief agency. We can help you file for Chapter 7 and Chapter 13 relief under the Bankruptcy Code.