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 card 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 our bankruptcy lawyer responds 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.
A Chapter 13 bankruptcy is for people who have a steady income but are continually behind with their bill payments. 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 to five years). If the plan is completed, any remaining unsecured debt is discharged.
What Does It Cost to File for Bankruptcy?
A fixed or flat fee is available at the law office of Tod J. Beavers, P.C., for personal Chapter 7 bankruptcies. The fee is $1199, which covers all costs incurred in filing for bankruptcy, including the $299 filing fee. It does not include the cost of the required credit counseling completed prior to filing or the financial education course completed after filing, which normally cost between $25 and $50 each. If the bankruptcy involves substantial business as well as personal debts the fee may be higher. A Chapter 13 bankruptcy costs $274 to file in court. My attorney fee is charged on an hourly basis, with the fee being approved by the court.
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.