Iowa Bankruptcy Attorneys -
IA Bankruptcy Lawyers
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Filing Iowa Bankruptcy
Under the Iowa bankruptcy laws debtors seeking debt relief by filing bankruptcy have two chapters of the bankruptcy code to file under. Individual debtors may file chapter 7 or chaper 13 depending on their debts and assets.
Iowa chapter 7 bankruptcy is a liquidation bankruptcy and is the most common chapter of the bankruptcy code. Many people each month turn to chapter 7 for relief from debts they are unable to repay. IA chapter 7 bankruptcy is common for debtors with little to no income or assets.
Chapter 13 bankruptcy is popular for debtors with assets not protected by the Iowa bankruptcy exemptions. Chapter 13 is a reorganization bankruptcy and if you file chapter 13 insolvency your debts will be reorganized into a debt repayment plan.