Iowa Bankruptcy Laws

Consult an Iowa Bankruptcy Attorney Today

If you currently live in Iowa and are thinking of filing for bankruptcy an Iowa bankruptcy attorney will go over all of your options.

Find out, with the help of an Iowa bankruptcy attorney, whether filing Chapter 7 or Chapter 13 bankruptcy is right for you.

For a consultation with a local Iowa bankruptcy attorney just fill out the form on this page.

Fill out our 10-second application form and have one of our attorneys contact you!

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State Exemptions and Iowa Bankruptcy Law

In your opening consultation with your Iowa bankruptcy attorney you will learn all of the important differences from Chapter 7 and Chapter 13 bankruptcy.

Throughout this consultation your bankruptcy attorney in Iowa will ask you many personal finance questions or provide you with a profile sheet to list specific details about your finances. The answers you provide should assist you and your attorney in deciding if filing Chapter 7 or Chapter 13 bankruptcy is appropriate for you.

Chapter 7 bankruptcy is usually called liquidation as the bankruptcy trustee may opt to sell or auction non-exempted property (see State Exemptions list below).

However, in the majority of Chapter 7 bankruptcy cases, the individual filing bankruptcy owns no non-exempt property, so this would not apply to the majority of filings. Provided you do not own much property or have many assets Chapter 7 bankruptcy may be the best choice since you would be allowed to discharge most of your unsecured debt.

Before filing Chapter 7 bankruptcy please discuss your situation with an Iowa bankruptcy attorney to determine exactly how much property may be exempt from liquidation.

Iowa State Exemptions

Homestead

One home, regardless of value.

Wages

If your annual earnings are:

1. $12,000-16,000, no more than $800 per year may be garnished.
2. $24,000-35,000, no more than $1,500 per year may be garnished.
3. $35,000-50,000, no more than $2,000 per year may be garnished.
4. $50,000 or more, no more than 10 percent of your wages per year may be garnished.

Automobiles

Up to $7,000 of one vehicle.

Personal Property

1. $1,000 worth of books, bibles, portraits and paintings
2. $2,000 worth of jewelry
3. $7,000 worth of household goods, apparel, household furnishings and musical instruments.
4. $10,000 worth of tools, work implements and trade books.
5. $10,000 worth of livestock, tools and equipment (for farmers).

Chapter 13 Bankruptcy is synonymous for “reorganization”. Individuals filing Chapter 13 may own more property and by filing Chapter 13 may also keep the majority of their assets.

In Chapter 13 bankruptcy, the individual in bankruptcy draws up a proposal for a repayment plan for a term of 3 to 5 years, which must be approved by a bankruptcy court. This installment plan enables the debtor to pay back outstanding bills.

Speak With a California Bankruptcy Attorney Today

If you have thought about filing bankruptcy in Iowa you may not know where to turn or simply feel burdened by the intricacies of the bankruptcy laws.

To solve any questions about the bankruptcy laws, an Iowa bankruptcy attorney will be able to guide you through the bankruptcy process in everyday terms. When you consult an Iowa bankruptcy attorney you will also be able to get many of your questions and concerns answered during the initial consultation.

We take the complexity out of finding a good Iowa bankruptcy attorney. Just complete our free bankruptcy questionnaire on this page and we will connect you with an Iowa bankruptcy attorney in your locality.

Note: This is not legal advice. All bankruptcy laws in any state need the consult of a bankruptcy attorney licensed in that state. Consult a local attorney if you are seeking legal advice. Some or all bankruptcy laws may have changed since this page was created.

Iowa Bankruptcy Attorneys are available in these cities:

ACKWORTH, ADAIR, ADEL, ALDEN, ALEXANDER, ALLEMAN, ALLIED GROUP, ALLISON, ALTA VISTA, ALTOONA, AMANA, AMERICAN COLLEGE TESTING, AMERICAN REPUBLIC, AMES, ANITA, ANKENY, APLINGTON, AREDALE, ARLINGTON, ATKINS, ATLANTIC, AUDUBON, AURORA, AUSTINVILLE, AVOCA, BADGER, BAGLEY, BARNUM, BAXTER, BAYARD, BEAMAN, BEAVER, BELLE PLAINE, BELMOND, BERWICK, BEVINGTON, BLAIRSBURG, BLAIRSTOWN, BONDURANT, BOONE, BOONEVILLE, BOUTON, BOXHOLM, BRADDYVILLE, BRADGATE, BRANDON, BRAYTON, BRISTOW, BUCKEYE, BUCKINGHAM, BURNSIDE, CALLENDER, CALMAR, CAMBRIDGE, CARLISLE, CARPENTER, CARSON, CARTER LAKE, CASEY, CASTALIA, CDS, CDS BRM, CHELSEA, CHESTER, CHURDAN, CITIGROUP, CLARE, CLARINDA, CLARION, CLARKSVILLE, CLERMONT, CLIVE, CLUTIER, CO BLUFFS, COGGON, COIN, COLFAX, COLLEGE SPRINGS, COLLINS, COLO, COMMUNICATIONS DATA SERVICES, CONRAD, CONROY, COON RAPIDS, COOPER, CORALVILLE, COUNCIL BLUFFS, CRESCENT, CRESCO, CUMBERLAND, CUMMING, DAKOTA CITY, DALLAS CENTER, DANA, DAWSON, DAYTON, DE SOTO, DECORAH, DEFIANCE, DENVER, DES MOINES, DIKE, DORCHESTER, DOWS, DUMONT, DUNCOMBE, DYSART, EAGLE GROVE, EARL MAY SEED, EARLHAM, EARLING, ELBERON, ELDORA, ELGIN, ELK HORN, ELKHART, ELLIOTT, ELLSWORTH, ELMA, EMERSON, ESSEX, EXIRA, FAIRBANK, FARRAGUT, FAYETTE, FORT ATKINSON, FORT DODGE, FREDERICKSBURG, FREDERIKA, GALT, GARDEN CITY, GARRISON, GARWIN, GIFFORD, GILBERT, GILMORE CITY, GLADBROOK, GLENWOOD, GOLDFIELD, GOWRIE, GRAND JUNCTION, GRANGER, GRANT, GRAY, GREENE, GRIMES, GRISWOLD, GRUNDY CENTER, GUTHRIE CENTER, HAMBURG, HAMLIN, HANCOCK, HARCOURT, HARDY, HARLAN, HARPERS FERRY, HARTFORD, HASTINGS, HAWKEYE, HAZLETON, HENDERSON, HENRY FIELD SEED, HIGHLANDVILLE, HILLS, HOLLAND, HOMESTEAD, HONEY CREEK, HUBBARD, HUMBOLDT, HUXLEY, IMOGENE, INDEPENDENCE, INDIANOLA, IONIA, IOWA CITY, IOWA FALLS, IRA, IRWIN, JAMAICA, JANESVILLE, JEFFERSON, JEWELL, JOHNSTON, KAMRAR, KELLEY, KELLOGG, KESLEY, KEYSTONE, KILLDUFF, KIMBALLTON, KIRKMAN, LACONA, LADORA, LAMONT, LANSING, LAWLER, LEHIGH, LEWIS, LIBERTY CENTER, LIBERTY CTR, LIME SPRINGS, LINCOLN, LINDEN, LITTLE CEDAR, LITTLE SIOUX, LIVERMORE, LOGAN, LONE TREE, LUTHER, LUZERNE, LYNNVILLE, MACEDONIA, MACKSBURG, MADRID, MAGNOLIA, MALVERN, MARENGO, MARNE, MARTENSDALE, MASONVILLE, MASSENA, MAXWELL, MAYNARD, MC CALLSBURG, MC CLELLAND, MC INTIRE, MIDDLE AMANA, MILLERSBURG, MILO, MINBURN, MINDEN, MINEOLA, MINGO, MISSOURI VALLEY, MITCHELLVILLE, MODALE, MONDAMIN, MONONA, MONROE, MONTOUR, MOORLAND, MORRISON, MOUNT AUBURN, MURRAY, N WASHINGTON, NASHUA, NEOLA, NEVADA, NEW ALBIN, NEW HAMPTON, NEW HARTFORD, NEW PROVIDENCE, NEW VIRGINIA, NEWHALL, NEWTON, NORTH ENGLISH, NORTH LIBERTY, NORTHBORO, NORWALK, NORWAY, OAKDALE, OAKLAND, OELWEIN, OGDEN, ORAN, ORCHARD, OSAGE, OSCEOLA, OSSIAN, OTHO, OTTOSEN, OXFORD, PACIFIC JUNCTION, PANAMA, PANORA, PARKERSBURG, PARNELL, PATON, PATTERSON, PERCIVAL, PERRY, PERSIA, PERU, PILOT MOUND, PISGAH, PLAINFIELD, POLK CITY, PORTSMOUTH, POSTVILLE, PRAIRIE CITY, PROLE, PROTIVIN, QUASQUETON, RADCLIFFE, RANDALIA, RANDALL, RANDOLPH, READLYN, REASNOR, RED OAK, REDFIELD, REINBECK, RENWICK, RICEVILLE, RIDGEWAY, RIPPEY, RIVERTON, ROLAND, ROWAN, ROWLEY, RUNNELLS, RUTLAND, SAINT ANSGAR, SAINT CHARLES, SAINT LUCAS, SAINT MARYS, SCRANTON, SHAMBAUGH, SHELBY, SHELDAHL, SHELL ROCK, SHELLSBURG, SHENANDOAH, SIDNEY, SILVER CITY, SLATER, SOLON, SOUTH AMANA, SPILLVILLE, STACYVILLE, STANHOPE, STANLEY, STANTON, STEAMBOAT ROCK, STORY CITY, STOUT, STRATFORD, SULLY, SUMNER, SWISHER, TABOR, TAMA, THOR, THURMAN, TIFFIN, TOETERVILLE, TOLEDO, TRAER, TREYNOR, TRIPOLI, TRURO, UNDERWOOD, UNION, URBANA, URBANDALE, VAN HORNE, VAN METER, VICTOR, VILLISCA, VINCENT, VINING, VINTON, WADENA, WALFORD, WALNUT, WATERVILLE, WATKINS, WAUCOMA, WAUKEE, WAUKON, WAVERLY, WEBSTER CITY, WELLSBURG, WEST DES MOINES, WEST UNION, WESTGATE, WESTPHALIA, WHITTEN, WILLIAMS, WILLIAMSBURG, WINTERSET, WINTHROP, WIOTA, WOODBINE, WOODBURN, WOODWARD, WOOLSTOCK, YALE, YORKTOWN, ZEARING