Bankruptcy FAQ's

Bankruptcy Frequently Asked Questions

A collection from my 40+ years of Iowa Bankruptcy

How much does a bankruptcy cost ?

My fees for a typical consumer bankruptcy are $1500. In addition the court costs payable to the Clerk of
Court are $335.

Are there any exceptions ?

Unfortunately no. If an attorney does a bankruptcy on credit, the attorney must disclose the payment arrangement
and discharge his bill in the bankruptcy. The debtor must then get another attorney as the original
attorney cannot be an attorney for the debtor and a creditor at the same time.

Why are Bankruptcy fees so high?

The 2006 Bankruptcy reform act made the attorneys for the debtor personally responsible for the
accuracy and truthfulness of the schedules. This requirement added a lot of time and work to a
bankruptcy compared to what was required before under the 1978 bankruptcy act.

How long does the Bankruptcy take ?

Usually about 90 days once the petition is filed with the Clerk. The creditor collection efforts must
stop immediately when the petition is filed.

Are all the Bankruptcy fees due at once ?

The first appointment is no charge. Once you decide to proceed with the Bankruptcy, the fees are due
when the work session [2nd appointment] occurs.

How much debt is needed for a Bankruptcy ?

There is no set amount needed for a Bankruptcy filing. Generally, I advise people that if they
have unsecured debts of more than six months net income, they should file. However, every situation is
different.

What do I need to get together for a bankruptcy ?

  1. LAST TWO YEARS TAX RETURNS
  2. LAST BANK STATEMENTS FOR EVERY BANK ACCOUNT
  3. LAST PAY STUB FROM WORK.
  4. List of creditors with addresses if possible
  5. Certificate of counseling [ I will need it before filing]
  6. Attorney fee of $1500 and Court costs of $335.

Does my spouse have to file also?

No, the spouse does not have to file. It complicates the schedules but you can file as a married
person filing singularly.

Qualified Bankruptcy Attorney

Over 1000 completed Iowa Bankruptcy cases!

Over 40 Years of Experience

Since 1974 I've been helping people get their lives back on track!

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I handle my Bankruptcy cases differently from the high volume bankruptcy firms. I meet with you personally every time.

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John Heckel Iowa Bankruptcy Frequently Asked Questions

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Bankruptcy is not a topic people want to talk about or consider often. 

I’ve helped over a thousand clients in my forty plus years and I can help you to!

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