An Experienced Attorney Can Handle Your Bankruptcy in Cedar Rapids

by | Oct 14, 2014 | Lawyers and Law Firms

Chapter 7 Bankruptcy is intended to be used by people who have very little chance of eliminating their debts, and even trying to eliminate them causes undue hardship on the family and life in general. Chapter 7 stops wage garnishments and calls from harassing collection agencies and creditors. Other unsavory collection practices will cease such as liens and repossessions. Bankruptcy in Cedar Rapids can be handled by an attorney who is highly experienced in bankruptcy filings.

This form of bankruptcy will result in the total elimination of your unsecured debts with certain exceptions. Secured debts such as your mortgage will not be eliminated. When you are considering filing for bankruptcy, you need to list all of your debts both unsecured and secured. You need to list all of your assets including your bank accounts, 401k funds, stocks and bonds and any other asset which can be converted to cash. You do not need to take this with you to your first visit with an attorney handling Bankruptcy in Cedar Rapids, but you will now have a complete picture of your debts and assets, and you will need this later. This will help in your first meeting with your attorney which is free and without any obligation to use his services.

An attorney working with Bankruptcy in Cedar Rapids will provide you with forms he has created to help his office prepare and file an accurate bankruptcy petition with the bankruptcy court. If your petition is incomplete because you did not file an accurate description, then your filing may be delayed or dismissed. Accuracy and completeness is very important in the bankruptcy process.

The bankruptcy attorney will prepare the filing and give you a good idea of what you can expect in the disposition of your assets if they total to an amount that will need to be liquidated. The trustee is appointed to oversee your bankruptcy. The trustee is usually a federal employee or an attorney practicing nearby. The trustee in a Chapter 7 bankruptcy must make sure all the procedures are being followed according to the law. They review the information in all the documents filed with the court and they take control of your non-exempt assets. Your attorney working with your bankruptcy filing in Bankruptcy in Cedar Rapids can explain this procedure and advise you of the protections that are in place for you.




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