If you are like many people around the country, you are having a hard time making ends meet. Having money for daily living expenses such as rent, utilities, doctor visits, gasoline, clothing, and food is hard enough without having to worry about paying past creditors. Too often lenders will add exorbitant fees and interest to the original amount owed to them. This means people end up paying interest on interest and interest on fees. This is one of the main reasons why so many people are drowning in debt. If you are among these people, a competent and reliable Iowa Bankruptcy attorney can help you sort out your financial affairs.
An Iowa Bankruptcy laws is adept at applying federal bankruptcy laws that derive their authority from the United States Constitution. Article 1, Section 8, Clause 4 authorizes Congress to create laws that are fair and unvarying in nature. This means that a man that applies for Chapter 7 in one state will follow the same criteria as a man that applies for the same section of the bankruptcy laws in another state. However, a bankruptcy judge makes the final decision as to whether a person can claim a bankruptcy status.
Filing bankruptcy will take a few visits to a bankruptcy lawyer. On the first visit, it’s wise to take all of your information including the most recent bill each lender has sent you. This includes any information you have received regarding legal action that lenders have threatened to take. Also, if you have been receiving harassing and abusive phone calls at work or home, take your detailed notes on the calls with you to the visit. There are state and federal laws regarding debt collection. The Fair Debt Collection Practices Act forbids lenders from using unethical, abusive, and threatening tactics to try to gain payments.
If you decide to proceed with bankruptcy, know that the process will take some time and effort. This legal status is not guaranteed by law. You have to apply for it and get approved. However, if you have a good attorney and prepare correctly, you have a good chance of being eligible for it.