Iowa chapter 12 bankruptcy attorney | Law Firm Newswire - Part 3

Des Moines, IA (Law Firm Newswire) August 9, 2011 – Not many people know that there is a category of debtors that are collection proof. One simply cannot get blood from a stone. “It goes without saying that the U.S. economy is the pits, but just lately, it has been offering a glimmer of hope for the future. Unemployment is still critical in the nation, and millions of Americans have been facing financial hardship for the last four years. Without a job, faced with mounting debt and no way to pay it, bankruptcy has become a reality we see every […]


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Des Moines, IA (Law Firm Newswire) July 15, 2011 – There is often a whole lot of confusion over what the differences are between secured and unsecured debt. “Bankruptcy proceedings get complicated enough that most people get confused over what the differences are between secured and unsecured debt, or if there are any differences at all. There are definitely differences, and when you speak to an experienced lawyer, this is one of the first conversations you should have,” said Kevin Ahrenholz, an Iowa bankruptcy lawyer. One of the main problems with people understanding the bankruptcy jargon is that those familiar […]


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Des Moines, IA (Law Firm Newswire) July 1, 2011 – Bankruptcy may look like the end of the world to many. But fortunately, it is not. “I hear a lot of stories in this line of work and one has always stood out in my mind; a woman who lost her house to foreclosure, and even though she declared bankruptcy, she of course, still had to pay $25,000 in student loans. She had quite the journey to get to solid footing once again, but she hung in there and made it. Her advice to others? There is life after bankruptcy […]


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Des Moines, IA (Law Firm Newswire) June 17, 2011 – Not many people understand the differences between secured and unsecured debt, only knowing they owe too much to ever pay it all back. “There is one very easy method to determine the differences between secured and unsecured debts, and that is if your creditor can take an item or property away from you, it is secured debt. For example, your home is secured with a loan and the lender can take it back it you don’t repay what you owe. As for unsecured debts, those do not involve property or […]


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Des Moines, IA (Law Firm Newswire) June 9, 2011 – Bankruptcy means different things to different people. The traditional point of view is it protects the creditor and debtor. “To most people, bankruptcy is about shucking their debts and coming out the other side debt free. It’s actually more complicated than that, as they discover when they file. But by and large bankruptcy protection is not just about the debtor, it is also about the creditor and his or her right to payment. The law in this area balances those rights and offers a path for debtors to get out […]


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Des Moines, IA (Law Firm Newswire) May 24, 2011 – While many bankruptcies start with a couple, at some point, there may be a parting of the ways. This causes problems for the process. “In my experience as an Iowa bankruptcy lawyer, I have seen many bankruptcies start with a couple; in other words, a joint filing. However, at some point in the process, they decide they can’t stand living together anymore and a divorce is filed. While that may sound straightforward, it isn’t. In fact, things can get very messy from this point on,” said Kevin Ahrenholz, an Iowa […]


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Des Moines, IA (Law Firm Newswire) May 11, 2011 – Last year was really rough for people declaring bankruptcy. Over 1.5 million Americans filed and started over afresh. “I get asked this question quite a lot when people come to me for a consultation: ‘Can I avoid bankruptcy?’ Overall, that is a tough question to answer, as there are many variables that affect whether or not to file, such as the economy, what your financial practices are like and what your present circumstances are,” said Kevin Ahrenholz, an Iowa bankruptcy lawyer. Typically, whether or not a person does file bankruptcy […]


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Des Moines, IA (Law Firm Newswire) April 21, 2011 – People not eligible to file a Chapter 7 bankruptcy may be eligible for Chapter 13. The key lies in protecting non-exempt assets. “With the recent changes to the Bankruptcy Abuse Prevention and Consumer Protection Act (2005), it got harder for people facing a serious debt load to qualify to file for bankruptcy, because their income is above the state median. Others opt to file under Chapter 13 to protect non-exempt assets from being sold by a trustee,” said Kevin Ahrenholz, an Iowa bankruptcy lawyer. For people opting to file bankruptcy […]


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Des Moines, IA (Law Firm Newswire) April 8, 2011 – Most people who file for bankruptcy do so because they have no other choice. However, bankruptcy fraud is on the increase, making courts even more suspicious of legitimate petitioners. “Unfortunately, even though the vast majority of those who have made the difficult decision to file for bankruptcy are legitimately in a financial bind, bankruptcy fraud is on the increase, something which is not good news. The more fraud there is, the less courtesy and consideration legitimate petitioners get. In other words, those really needing help are now being regarded with […]


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Des Moines, IA (Law Firm Newswire) March 21, 2011 – Generally speaking, in a Chapter 7 bankruptcy, the trustee sells non exempt assets and pays the creditors from the sale proceeds. “While many people think they lose everything in a Chapter 7 bankruptcy, this is rarely the case,” said Kevin Ahrenholz, an Iowa bankruptcy lawyer. “The fact is that bankruptcy is governed by federal law and every state has its own rules about what a person can protect from creditors. These are referred to as ‘exemptions’ and Iowa has several powerful ones, with the homestead exemption being perhaps the most […]


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Des Moines, IA (Law Firm Newswire) February 22, 2011 – Depending on the state in which one lives, there may be access to state or federal exemptions when bankruptcy is declared. Some states opt for federal exemptions, while states like Iowa opt out and provide state exemptions. “Filing for bankruptcy means that you have certain exemptions. In a nutshell what that means for you is you are allowed to keep a certain amount of your assets, meaning they are untouched. This means you have the ability to start over again and not be caught up in the vicious circle of […]


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Des Moines, IA (Law Firm Newswire) February 3, 2011 – Most people think that if they declare bankruptcy they can never get mortgage refinancing. That is not the case, as it is possible to obtain a mortgage loan after bankruptcy. “A lot of people do not realize that they can get mortgage refinancing after bankruptcy. In fact, there are a variety of options. One of them is using a qualified attorney who specializes in helping borrowers to file that kind of paperwork. It is a good idea to have a skilled bankruptcy lawyer on your side, as they help mediate […]


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