Council Bluffs Turns to Us When They Need Personal Bankruptcy Attorneys
When you need a bankruptcy lawyer, don’t hesitate to reach out to Peters Law Firm. Our entire staff cares about the people of Council Bluffs and we take pride in being able to serve the community in which we live and work. Our professionals will stop at nothing to ensure you’re happy with the services we’ve provided. When you enlist our help, you’re choosing people who really care about the residents of Council Bluffs as well as the surrounding community.
We Make Personal Bankruptcy Simple and Easy
Personal bankruptcy is a stressful ordeal, but with Peters Law Firm, it can be much easier. Our staff will make sure that everything is taken care of, so you don’t undergo further stress while sorting out your finances. Don’t settle for anything less than the world-class services that we provide here at Peters Law Firm. Our employees know the ins and outs of personal bankruptcy, and we can handle all the particulars for you.
Who Can File for Chapter 13 Bankruptcy?
People tend to be most familiar with Chapter 7 bankruptcy, also known as a straight bankruptcy. This option aims to forgive your debts in exchange for handing over your non-exempt property. To qualify, you must pass a “means test” that proves your income is below a certain threshold.
Alternatively, Chapter 13 bankruptcy, also called reorganization bankruptcy, sets up a repayment plan to help you repay most of your debt. In other words, you don’t get out of all debts if you declare this type of bankruptcy. Filing Chapter 13 may be the right option for you if you can’t pass the means test and have a steady income and home mortgage.
What Are the Advantages of Filing Chapter 13 Bankruptcy?
If you end up having to pay back most of your debt with Chapter 13, many clients wonder what the benefits are of filing. Chapter 13 bankruptcy offers the following advantages:
- Stop foreclosure on your home and repossession of your car
- Place a freeze on all lawsuits, wage garnishments, and harassment from creditors
- Keep all your assets
- Likely eliminate part of your unsecured debt, such as credit cards and medical bills
What to Expect From a Chapter 13 Repayment Plan
Your repayment plan is determined by the amount of debt you have and your disposable income. Instead of high-interest payments to keep track of from left and right, you’ll have one concise monthly payment that’s easy to manage. The plan may last from three to five years, depending on your situation, after which any remaining debt will most likely be discharged (forgiven).
How Much Does It Cost to File Bankruptcy?
There is no clear-cut answer here. The amount you reimburse your bankruptcy attorney and how your repayment plan works can vary widely depending on your level of debt, who you hire to help you file for bankruptcy, and the overall complexity of your case. Regardless of your situation, you can expect to pay a court filing fee, administrative fee, and other attorney fees. The person filing is usually the one who pays for bankruptcies.
Get Help Filing for Chapter 13 Bankruptcy in Council Bluffs
Peters Law Firm assists individuals, couples, and families struggling with overwhelming debt in Southwest Iowa and the surrounding region. We have served the Council Bluffs area since 1895, and in that time, we have built a reputation for offering excellent legal assistance.
Bankruptcy is something no one wants to go through, but with us by your side, we’ll make the process as painless as possible. We take pride in serving the communities where we live and work, and our bankruptcy lawyers will stop at nothing to ensure you are satisfied with the services we provide. Enlist our help, and you’ll quickly see how much we care about your personal well-being at this trying time.
To start the process of filing for bankruptcy Chapter 13, please contact Peters Law Firm and schedule your free consultation today. We serve clients in Carter Lake, IA; Lincoln, NE; Maryville, MO; and the surrounding areas.