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Blog | Kevin Ahrenholz Bankruptcy Lawyer - Part 3

You May Check the Status of Your Bankruptcy Case Online

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If you have trouble finding information about the status of your bankruptcy filing, you may track your status online.

Public Access to Court Electronic Records, also referred to as PACER, provides a debtor access to the information needed to keep track of the post-filing status of his or her case. Though debtors may get information directly from your bankruptcy lawyer or via a court-appointed trustee, some debtors find it frustrating to wait for the information, as lawyers and trustees may not be able to respond immediately. With PACER, you simply need to go online to check your bankruptcy status quickly and easily.  Just visit the site at: http://www.pacer.gov/ and register for a login ID. This system offers access to bankruptcy courts across the U.S., provided you have a valid password and ID. It is easy to register: enter your name, home address, phone number, the name of your nearest living relative, and your date of birth. You will then need to authenticate your registration. To do so, use a valid credit card to finish the registration process and you will receive an assigned password. While it may seem odd to ask for a valid credit card number if the debtor has credit card debt, many individuals do still have valid cards they may use for registration purposes.

Once you have successfully registered, the password is emailed to you, or, if you did not provide an email address it will be sent to you by regular mail. PACER will bill you to view pages. The rate may vary, but typically is about ten cents per page, with a viewing limit of 30 pages. If you are searching for court transcripts, you do not have to pay the 30-page fee limit. Also, parties to a case and their lawyers may get one free copy of all e-filed documents.

Once you have your login and password, you may search the complete list of U.S. bankruptcy courts to determine which one is handling your case. Typically, the courts are separated into districts: In Iowa, select from either the Northern or Southern District. Cases filed in the eastern half of Iowa will be predominantly Northern District cases.  Cases filed in the Des Moines area and west are likely to be Southern District cases.

In order to locate information specifically about your bankruptcy case, you will need to enter your birth date, name and Social Security number. Once this information is verified by the system, all information relating to your case will be made available to you, including the current status of the bankruptcy petition.

Kevin Ahrenholz is an Iowa bankruptcy lawyer and Iowa bankruptcy attorney. To contact him, visit https://www.iowachapter7.com or call 1.877.888.1766.

Posted on Thursday, November 1st, 2012 and filed under Bankruptcy | Comments Off on You May Check the Status of Your Bankruptcy Case Online .
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Aware of Someone Fraudulently Hiding Assets While Declaring Bankruptcy? Report It.

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Perhaps you were told a story while visiting someone who had filed for bankruptcy protection. He may have mentioned to you that he was hiding a piece of property, and did not declare it when he filed. He is committing bankruptcy fraud, which is a very serious offence punishable by a fine of up to $250,000 and/or up to 5 years in prison.  If you know that someone is fraudulently hiding assets, and they have declared bankruptcy, report that information. Reporting can be done anonymously. If you are uncertain where to report a situation such as this, call an Iowa bankruptcy lawyer and ask.

The information you will need to provide if you choose to report bankruptcy fraud is the location of the Court where the person filed (which district within which State), the individual’s full name and address, and a brief note about the situation, with as much information as you have available. It is best if you can outline the kind of fraud the debtor allegedly committed, such as hiding an asset, illegally transferring an asset, or lying about owning an asset.  Rest assured it is okay for you to simply put it in your own words.  No one expects you to be familiar with legal terminology, just be as specific as possible about the incident you are reporting, and how you came to know the details of what supposedly happened. If you want to include your contact information, you may.

When your report is complete, send it to the U.S. Trustee Program at: Executive Office for U.S. Trustees Criminal Enforcement Unit 20 Massachusetts Avenue, NW Suite 8000 Washington, DC 20530. If you happen to also know the individual’s bankruptcy case number, the Trustee appreciates that as well. You may be able to find that information online, as all bankruptcy case files are readily accessible to the public.

You may also choose to report the bankruptcy fraud to the police, the national U.S. Trustee’s office, your local state field office, or the bankruptcy court. You can find telephone numbers for some of these locations on the U.S. Trustee Program’s website. Once you have given your report to the authorities, do not automatically expect a personal response. You may not ever directly hear back from them on the status of any investigation that may or may not be underway.

Kevin Ahrenholz is an Iowa bankruptcy lawyer and Iowa bankruptcy attorney. To contact him, visit https://www.iowachapter7.com or call 1.877.888.1766.

Posted on Monday, October 15th, 2012 and filed under News and Press | Comments Off on Aware of Someone Fraudulently Hiding Assets While Declaring Bankruptcy? Report It. .
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It is Possible to Start Rebuilding Your Credit Rating After Bankruptcy

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Many people believe that once they have declared bankruptcy, they will never again have a “good” credit rating. This is a myth. 

A debtor’s credit rating can be hit with as much as a 100-point deduction upon filing for bankruptcy relief. However, the debtor’s credit rating does not need to stay at the same low level for the ten years that the bankruptcy will be on record. There are a number of ways the debtor can regain points and rebuild credit, even after bankruptcy. It just takes time, patience, and some effort. As incredible as it may sound, a debtor may even start to rebuild their credit rating the day after his or her bankruptcy has been discharged. A good Iowa bankruptcy lawyer may advise their client of this during their consultations. 

If you are a debtor looking to rebuild your credit score after having filed bankruptcy, the first thing you should do is to get a copy of your credit report and review it carefully. Credit reporting agencies do not always have accurate information. Even though a bankruptcy lowers your credit rating, you may find that there are other inaccurate or expired pieces of information that you may be able to have removed, and the removal of these inaccuracies will increase your credit score. If you do find errors, you should dispute them. To do so, check each credit reporting agency’s website for details on how to file a dispute. 

Even immediately after receiving your debt discharge in bankruptcy, you may apply for a new credit card. While you included most or all of your credit cards in your bankruptcy, you will likely still qualify for either a secured or unsecured credit card. The rates will be higher and the limit will be lower than before, but a new card is a good place to begin rebuilding your credit score. Stick with one or two cards, manage your purchases carefully, and don’t overspend. You want to prove that you are a responsible borrower. If you have any questions, speak to an experienced Iowa bankruptcy lawyer. 

Remember to keep your credit card balances low because your credit score keeps track of the amount of debt you are carrying, your payments, and the amount of credit available to you. It is wise to keep your debt load at about ten percent of your total available credit. Let’s say your available credit is $15,000. You would want to keep your purchases around $1,500, and promptly pay your balances in full each month. Paying your outstanding balances in full and on time is an effective strategy to increase your credit score. To stay on track, make a schedule or set reminders of when your payments are due, and be sure to pay them on time or even ahead of time. Over time your credit score will improve. It will take some time for your dedication to this method to actually reflect in your credit score, so you must remain steadfast in your efforts and focused on your goal. 

Kevin Ahrenholz is an Iowa bankruptcy lawyer and Iowa bankruptcy attorney. To contact him, visit https://www.iowachapter7.com or call 1.877.888.1766.

Posted on Friday, October 5th, 2012 and filed under News and Press | Comments Off on It is Possible to Start Rebuilding Your Credit Rating After Bankruptcy .
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Forgotten Creditors Unlikely to Get Paid in Bankruptcy Process

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When filing for bankruptcy, a debtor may forget to list a creditor. This is not an ideal situation for the debtor, as they may still owe that debt after discharge.

When a debtor is filing for bankruptcy protection, they must fill out numerous documents that tell the court the names of all the creditors involved in their case, what real and personal property they own, and who their unsecured and secured creditors are and how much they are owed. The list must be complete, but occasionally a creditor is inadvertently left off the list. It is best to immediately consult with your Iowa bankruptcy lawyer to find out what to do when you discover that your creditor list is incomplete.

If the debtor has filed a Chapter 7 bankruptcy, he or she is required to submit Schedules A through J to the bankruptcy court as part of their bankruptcy petition. Schedule A lists the debtor’s real property. Schedule B lists all personal property the debtor owns and Schedule C lists property exemptions.  Schedule D lists secured debts (such as mortgages or car loans), Schedule E lists unsecured priority debts (such as child support or past-due tax obligations), and Schedule F lists unsecured nonpriority debts (such as credit cards and medical bills).  In schedules D through F, debtors must list all of their creditors, and provide the following information as it pertains to each debt he or she has with each creditor: the account number used with each particular creditor; the creditor’s name and mailing address, and the amount owed to the creditor.  The bankruptcy Trustee uses Schedules D through F to ensure all creditors are recognized and paid. The remaining Schedules are G through J. If the debtor has executory contracts and/or unexpired leases, they are listed on Schedule G. If the debtor has any co-debtors, then on Schedule H the debtor must provide the name and address of each co-debtor as well as identify the shared creditor. Finally, the debtor’s monthly expenses and income are set forth on Schedules I and J.

As you can see, with all the lists, rules, and various requirements for filing for bankruptcy protection, it is possible to accidentally omit a creditor. If your case is being handled by a competent Iowa bankruptcy lawyer, he or she will attempt to ensure that your Schedules are complete and accurate by asking questions designed to help you search your memory for forgotten debts.

Once the Chapter 7 bankruptcy has been filed, it is the Trustee’s responsibility to identify and liquidate the debtor’s non-exempt property, and then notify the list of creditors set forth in your Schedules of any possible distributions. If the debtor forgets to list one of his or her creditors, then that forgotten creditor will not have the opportunity to receive a portion of any potential distribution in the case. The most important thing to note is that if the debtor forgot to list a creditor in his or her bankruptcy, and the debtor receives a discharge of his or her debts, the debt to the forgotten creditor is arguably still owed.

Kevin Ahrenholz is an Iowa bankruptcy lawyer and Iowa bankruptcy attorney. To contact him, visit https://www.iowachapter7.com or call 1.877.888.1766.

Posted on Sunday, September 30th, 2012 and filed under News and Press | Comments Off on Forgotten Creditors Unlikely to Get Paid in Bankruptcy Process .
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Iowa Bankruptcy Lawyer Says Active Duty Military May File Bankruptcy

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Bankruptcy lawyers are often asked if active duty military may file for bankruptcy. The answer is yes.

There are a lot of people who believe that active duty military personnel are not allowed to file for bankruptcy relief. “While military personnel are held to a higher standard of conduct than regular citizens, they do not have to give up the right to declare bankruptcy,” said Kevin Ahrenholz, an Iowa bankruptcy lawyer.

Even dedicated military personnel may run out of money before they have come to the end of the month, and if this continues for a sustained period of time, the individual may need to consider filing for bankruptcy protection. It does not matter if they are in the military at the time they file, and it does not matter what Chapter of bankruptcy they elect to file. They have the same rights as all U.S. citizens when it comes to declaring bankruptcy.

Filing for bankruptcy while on active duty may have other consequences for members of the Armed Forces, such as a negative effect on security clearance and promotions. However, they are still entitled to file and have legal protection accorded to them if their duties get in the way of attending bankruptcy court hearings.

To file for bankruptcy, the service member needs to determine the appropriate state in which to file their petitoin. Federal law mandates they file their bankruptcy in the state where they have lived for the greater part of the six months prior to filing. “Since military personnel are frequently transferred, they need to check the bankruptcy filing requirements of where they currently live,” said Ahrenholz.

Military personnel must also get credit counseling within the six month period before they file, and the Department of Justice has a list of counselors on its website. While the counselors do not get involved with the bankruptcy case, they will outline the process and answer any questions. The next step is to determine which Chapter to file. The choices for personal bankruptcy are either Chapter 7 or Chapter 13. The Chapter is dependent on the size of the debtor’s household and whether his or her income falls above or below the median average income for that size of household in his or her state of residency.

Kevin Ahrenholz is an Iowa bankruptcy lawyer and Iowa bankruptcy attorney. To contact him, visit https://www.iowachapter7.com or call 1.877.888.1766.

Posted on Tuesday, August 28th, 2012 and filed under News and Press | Comments Off on Iowa Bankruptcy Lawyer Says Active Duty Military May File Bankruptcy .
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You Can Stop a Bankruptcy Proceeding

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One of the questions that bankruptcy attorneys often get asked is whether the debtor is allowed to withdraw from bankruptcy proceedings. Perhaps you have already started the bankruptcy filing process by consulting an experienced Iowa bankruptcy attorney who has assisted you with filling out all the right documentation, and you’ve paid the fees and you are moving forward. 

The next step is advising your creditors that you have filed for bankruptcy, and perhaps meeting with them and attending a credit counseling session. You are eventually heading to a U.S. Bankruptcy Court hearing (Meeting of Creditors), and your Iowa bankruptcy lawyer advises you that you will be through the process shortly. Any second thoughts you might have had about taking this route have long since vanished. You still believe filing for bankruptcy was the only thing you could have done to get out from under your overwhelming debt load. 

Then, before you get to your hearing, you get a phone call or a letter advising you that you have just come into some money, perhaps through inheritance or the lottery. Things like that do happen, although rarely. If you suddenly and unexpectedly come into money, you are allowed to stop the bankruptcy process in its tracks. However, you are still responsible for paying off your creditors. Once you have done that, the information that you gave to your lawyer that was then once entered into the system is purged. You will not have a record of filing for bankruptcy. 

While winning the lottery might seem like a pipe dream, at least you know you do have the opportunity to withdraw from a bankruptcy proceeding should the circumstance arise.

Kevin Ahrenholz is an Iowa bankruptcy lawyer and Iowa bankruptcy attorney. To contact him, visit https://www.iowachapter7.com or call 1.877.888.1766.

Posted on Tuesday, August 14th, 2012 and filed under News and Press | Comments Off on You Can Stop a Bankruptcy Proceeding .
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Iowa Bankruptcy Lawyer Says Involuntary Bankruptcy May Be Defended

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It is possible for individuals and businesses to avoid being forced into involuntary bankruptcy.

The more debt an individual or company incurs, the higher the risk becomes that creditors will file bankruptcy against them. This is referred to as involuntary bankruptcy, and in some cases, it may be justified. In other cases, it is necessary for the debtor to defend against involuntary bankruptcy petitions in order to avoid surrendering assets or being forced to sell them.

“Individuals or businesses who find themselves in receipt of an involuntary bankruptcy petition need to reach out to a qualified lawyer for help,” said Kevin Ahrenholz, an Iowa bankruptcy attorney. If an individual or company is served with an involuntary bankruptcy petition, one of the first things that individual or company must do, aside from hiring a reputable bankruptcy lawyer, is find every record on file relating to paychecks, monthly bills, loans, mortgages and lines of credit.  These documents are required to prove the amount actually owed to each creditor, versus what may be stated in an involuntary bankruptcy petition by a creditor. It is also helpful to provide a complete overview of net income and expenses, and then break down each month’s financial activity. Bank statements can also be used as evidence of past payments to creditors.  The idea is to demonstrate to the court that the debtor’s financial picture is improving. If it can be proved that the debtor’s financial liabilities are being paid, and he or she is making an effort to pay off debts owed, this is often enough to defeat an involuntary bankruptcy petition. If a debtor is able to prove that their debt is less than $10,000, this too may – in most states – defeat an involuntary petition.

Ahrenholz stated that the debtor has 20 days within which to file any complaints that he or she has against any creditor who has filed an involuntary bankruptcy petition against him or her.. When an objection is filed, the matter most often ends up in court. Once in court, the debtor can attempt to prove that the creditor merely filed the involuntary bankruptcy in order to gain favor over other creditors. The court may dismiss the petition, noting that the point of bankruptcy is to distribute assets evenly among all creditors and not just to select and prefer a few.  In the event that the debtor is unable to convince the court that the bankruptcy is unnecessary, the best way for the debtor to recover a position of control is for the debtor to work towards converting the case into a Chapter 13 bankruptcy.

Kevin Ahrenholz is an Iowa bankruptcy lawyer and Iowa bankruptcy attorney. To contact him, visit https://www.iowachapter7.com or call 1.877.888.1766.

Posted on Friday, August 10th, 2012 and filed under News and Press | Comments Off on Iowa Bankruptcy Lawyer Says Involuntary Bankruptcy May Be Defended .
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Bankruptcy Will Not Help You Avoid Divorce Obligations

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If you are responsible for paying spousal support, filing bankruptcy will not negate that obligation.

You just found out that your spouse has filed for a divorce and you are in a panic. Perhaps at some point you made the decision to actually stop paying on your debts because you just could not keep up, and being served a divorce petition was the last straw. You think now it might be time to file bankruptcy, as you do not have the money to pay support. You also need to file some kind of response to the divorce action. Before you make any kind of decision relating to your divorce and/or filing for bankruptcy, consult with an experienced Iowa bankruptcy lawyer. If you make the wrong move now, you could find yourself with legal difficulties.

What considerations are there with respect to divorce and bankruptcy? Before the Bankruptcy Act of 2004, it was possible to discharge debts that came about as a result of divorce. Since lawmakers considered this to be a loophole, amendments were made to the Act to close it, which means you may no longer discharge any financial obligations that are the result of a divorce, including spousal and child support.

Your main consideration should be whether you are eligible to file for bankruptcy protection.  The fact that you are facing a divorce is irrelevant to the issue of filing bankruptcy. However, in order to make the most informed decision about how best to proceed and whether to file Chapter 7 or Chapter 13 bankruptcy, it is imperative that you discuss your situation with a qualified Iowa bankruptcy lawyer.

Filing for bankruptcy is stressful enough without also facing divorce at the same time. This is when you need to services of a skilled Iowa bankruptcy lawyer to help you get through the maze of rules, regulations, credit counseling, and paperwork. If you attempt to file bankruptcy on your own without legal counsel, you may be wasting your time and money and ultimately find yourself at risk having of your bankruptcy petition dismissed. Hiring a knowledgeable bankruptcy attorney is the best investment you will ever make.

Kevin Ahrenholz is an Iowa bankruptcy lawyer and Iowa bankruptcy attorney. To contact him, visit https://www.iowachapter7.com or call 1.877.888.1766.

Posted on Wednesday, August 1st, 2012 and filed under News and Press | Comments Off on Bankruptcy Will Not Help You Avoid Divorce Obligations .
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It is Relatively Easy to Replace a Lost Copy of Your Bankruptcy Discharge Record

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It is a good idea to keep a copy of all of your bankruptcy case-related documents, particularly your discharge paperwork. However, if you lose it, it may be replaced.

When the bankruptcy process is concluded, the debtor is released from liability on a variety of debts. When the court determines the debtor has fulfilled all of his or her obligations in filing for bankruptcy protection, the discharge order is entered by the court and the debtor gets a copy of his or her discharge papers in the mail. It is wise to keep your copy of these documents.  Your Iowa bankruptcy lawyer will remind you of the importance of keeping these kinds of documents throughout your bankruptcy filing.

Remembering to keep original bankruptcy discharge papers is routine for some debtors and more difficult for others. Managing and organizing court-related documents is not something most debtors do on a regular basis. If you are a debtor who has lost your bankruptcy discharge papers, you may obtain another copy in one of three ways.  The first way to obtain copies of case-related documents is to contact your Iowa bankruptcy lawyer to see if he or she has an extra copy of the document you are seeking in the office file. 

Your second option is to contact the court where your bankruptcy petition was filed. If you want to do this in person, contact the clerk of the bankruptcy court where your bankruptcy case was filed and discharged. If you are not certain which court you need to contact, you can ask your Iowa bankruptcy attorney or search online using the PACER system. If you choose to search online, you may need to pay a fee for the clerk to search and certify your papers and have them sent to you in the mail, or you may opt to pick them up in person.

Your third option in seeking a copy of your bankruptcy case-related court documents is to go online and access the Federal Courts PACER system. The PACER system allows individuals to create a free user account prior to searching for a copy bankruptcy case-related documents, including the petition or the discharge papers. If the information is located in the database, you then have to indicate how you will pay the per-page fee in order for the information to download to your computer. If you are not the debtor listed in the document you want, you are still able to obtain a copy of any public record bankruptcy papers by speaking to the bankruptcy court clerk where you filed your bankruptcy papers.

Kevin Ahrenholz is an Iowa bankruptcy lawyer and Iowa bankruptcy attorney. To contact him, visit https://www.iowachapter7.com or call 1.877.888.1766.

Posted on Wednesday, July 18th, 2012 and filed under News and Press | Comments Off on It is Relatively Easy to Replace a Lost Copy of Your Bankruptcy Discharge Record .
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For the Best Service, Credit Counselors Should Work Just for You

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For credit counseling, choose a counselor that works only for you, not a third party. 

If you are going to credit counseling as a result of filing for bankruptcy protection, you need to choose an independent individual who will be working for you, and who has no affiliations with banks or other lending institutions. You might wonder how you would do that or how would you compare them? 

The first thing you need to determine is who is responsible for paying them. Do they work for you? Do they work for the bank where you have a loan? Do they work for a credit card company? The answers to these questions are important, mainly because you want someone that is 100 percent advocating for you as opposed to someone who is working on behalf of the people that loaned you money. 

Good, independent choices for credit counseling may run the gamut from an attorney that specializes in that area to an accountant with extensive experience in dealing with bankruptcies. It could also be an individual who may work for a credit reporting company, or a business that helps people work through their financial issues. If at any time you are uncertain about how to find a credit counselor that is not affiliated with a lending institution, ask your Iowa bankruptcy lawyer for suggestions. 

If you discover that the person or company you want to deal with has ties to a lending institution, bank, credit union, or credit card company, then you can expect they are not working in your favor. They may look like they offer good service and advice, and in fact may do a good job, but their real reason for helping you is likely to get as much money back from you as possible. They may even be free, which is tempting when you have very little money to go around. 

Opt for the independent credit counselors, whose only job is to help you deal with the difficult situation you find yourself in. At any point during the process of filing for bankruptcy protection, it is smart to keep asking questions about what is happening, what is next, what documents are required, and what to expect when things are said and done. Your Iowa bankruptcy attorney will guide you step-by-step through the maze of rules and regulations. You just have to ask for help. 

Kevin Ahrenholz is an Iowa bankruptcy lawyer and Iowa bankruptcy attorney. To contact him, visit https://www.iowachapter7.com or call 1.877.888.1766.

Posted on Sunday, July 1st, 2012 and filed under News and Press | Comments Off on For the Best Service, Credit Counselors Should Work Just for You .
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