Iowa Bankruptcy Secrets
You don't have to fill out a long yucky packet
"You made me feel very comfortable, not foolish. You were very considerate and helpful every time I called and responded immediately".
– Recent client
Our office does not use client packets. Instead, we do your entire petition during the first appointment and file electronically every week so we can get you quick relief. Almost all of our clients file on the Thursday following their first appointment and get the whole process over fast. Read more about our Iowa Bankruptcy process.
Most people keep all their property when filing Iowa bankruptcy
The bankruptcy code provides for you to keep your home, cars, furniture, appliances, employer sponsored retirement and other essentials that you need to get your fresh start. In general, fears of losing property are overblown by the credit industry. Iowa Bankruptcy Exemptions.
There is an alternative to Iowa bankruptcy
Consumer Credit of Des Moines is well respected and may be able to help you if you have the ability to pay your debt. Beware of internet based credit counselors. Many of our clients have been ripped off when these companies take their money but do not settle any of their debts. Some of these organizations are under investigation by the IRS and FTC.
There is credit after bankruptcy
We hope you will not go into bankruptcy with the intent of getting back into debt. In particular, you should refuse all offers of credit cards and just use a debit card instead. But if you want to buy a home or car after filing you will probably be pleased. We have had many clients purchase a home within two years of filing Iowa bankruptcy.
Your banks may want you to file bankruptcy
Banks make money both ways. They earn big interest and late fees before you file bankruptcy. After you file Iowa bankruptcy they can write off the loss on their taxes. What they don't want you to do is stop paying your debts or using credit and "live off the books". Banks often force debtors into bankruptcy with a lawsuit or garnishment. They would rather write off the loss and then try to get you back into the credit culture. We hope you will choose not to use credit cards and will live on a "cash basis" after your bankruptcy.
You are not alone
Each person going through bankruptcy tends to feel like the "Lone Ranger." "Don't! In Iowa alone, over 10,000 people file bankruptcy every year. Doubtless, several of your friends, coworkers and neighbors have filed, they just don't advertise it. Also, many famous individuals and big companies have gone bankrupt including Hollywood director Francis Ford Coppolla, hotel founder Conrad Hilton, retailers James "J.C." Penney and Sam Walton (before he founded what is now the largest company in the world, Wal Mart), mogul Donald Trump, the Iowa based McLeod company and Continental Airlines. There is absolutely no reason to feel guilty about filing bankruptcy, especially if you use it as an opportunity to provide future financial happiness and security for your family. Read more about the Famous and Bankrupt.