Des Moines Bankruptcy Attorneys
Helping You Overcome Financial Burdens
Are you feeling overwhelmed by debt? Do you need help unburying yourself from burdensome financial matters? Hope Law Firm is here to extend a helping hand and guide you toward a fresh start.
Our Des Moines bankruptcy attorneys have been serving Iowans since 2003, delivering compassionate, client-focused representation. Our team offers bankruptcy representation for both individuals and businesses who have found themselves unable to manage their debts.
What Is Bankruptcy?
Bankruptcy is a legal proceeding that allows a person or business to seek a fresh start on their finances. It is intended for entities in severe debt or with serious financial issues that cannot be worked out alone. Federal law governs the process of bankruptcy, and all bankruptcies are handled in federal court.
When you file for bankruptcy, your creditors are forbidden from harassing you with attempts to collect debts. Bankruptcy provides protection from creditors while you sort out your finances.
By filing for bankruptcy, you may also be able to:
- Prevent home foreclosure
- Avoid paying some or all of your debts
- Restructure your debts to make it easier to pay them back
- Prevent repossession of your car or other certain properties
- Avoid wage garnishment
- Restore utility services or prevent cancellation of utility services
Types of Bankruptcy
Federal law recognizes a few different forms of bankruptcy. The type of bankruptcy for which you file will depend on the circumstances of your situation.
We can assist you or your business with a:
- Chapter 7 bankruptcy: The first of two types of bankruptcy for individuals. In order to file Chapter 7 bankruptcy, you must surrender nonexempt property to pay for secured debts. Once you have surrendered all eligible property, all remaining debt is discharged. To qualify for Chapter 7, you must meet the income requirements – meaning you do not have sufficient income to pay off at least a portion of your debts. To see if you qualify, you can take the means test.
- Chapter 13 bankruptcy: The second of two types of bankruptcy for individuals. You should file Chapter 13 bankruptcy if your income exceeds the limit for a Chapter 7 bankruptcy. In a Chapter 13 bankruptcy, you may restructure your payments to make them more manageable and discharge part of your debt.
- Chapter 11 bankruptcy: This type of bankruptcy is reserved for businesses – generally corporations, partnerships, and LLCs. Chapter 11 involves restructuring debts and financial affairs in the best interests of the creditors. The bankruptcy court has control over major decisions in Chapter 11 bankruptcy.
Our Des Moines bankruptcy attorneys can help you determine which type is right for you. From there, we can assist with the initial filing requirements and walk you through the process every step of the way, always keeping your best interests in mind.
Give us a call at (515) 298-5056 to request a free initial consultation.
Thousands of cases successfully handled for our clients.
We offer payment plans & flexible hours to meet your needs.
We treat you with compassion, honesty, dignity and respect.
We take an aggressive approach & have a proven track record.