Iowa Costs of Bankruptcy

Iowa Chapter 7 and 13 Attorney Fees

Attorney’s fees and filing fees, the court costs associated with bankruptcy, for a Chapter 7 or Chapter 13 bankruptcy vary from case to case. However, the sum of fees and court costs are generally $1,495.00. We offer a $200.00 discount for certain Chapter 7 candidates who fall below the median income guidelines and who meet three other contingencies:

• returning an organized packet within 30 days
• purchasing a credit report
• scheduling telephone meetings Monday – Friday between the hours of 9:00 a.m. and 3:00 p.m.

Please see the initial client letter for more details on the discount.

Broken down, the attorney fees are $996, and the filing fee in discount Chapter 7 cases is $299. Our Chapter 7 lawyer fees are some of the lowest in the state. The cost is slightly more if the client owns a business. or has owned or operated a business within the past year. For business owners the cost associated with filing bankruptcy is around $1,995.00.

The entire amount required to file bankruptcy does not have to be raised immediately. You can begin exploring your options with our firm at no charge and without any obligation to hire us. You do not need to pay any fees until we are ready to file your case, at which time the entire amount is due. If having the entire amount available at the time of filing is of concern to you, we recommend that you start the process of saving now so the money will be available by the time you are ready to file.

We offer individuals interested in saving to the option to deposit funds in our trust account. By making periodic payments into our trust account, you will not be tempted to spend the money elsewhere. This will help speed up the process of filing and, ultimately, of eliminating your debt. The money in our trust account will also be protected from creditors who attempt to wipe out your bank accounts with a bank levy. Many clients have saved money to file bankruptcy in their checking account, only to see a creditor take it with a bank levy before they are able to file.

We accept credit cards (with a $75 processing fee), and, under extraordinary circumstances, we offer installment plan payments that extend beyond the filing date. However, clients that are approved for this option usually pay more than they would if they were able to raise all the fees prior to filing.

Additional fees may be charged for any attorney or paralegal time that you request in the preparation of your filing, over and above the intake phone call, initial consultation and signing appointment, or for any issues that arise up post-filing. These charges are billed at the conclusion of your case. The fees you pay upfront cover the cost of preparing and completing your bankruptcy, but some clients want more assistance and guidance than others on matters that are not directly related to obtaining your bankruptcy discharge.

Our Iowa bankruptcy attorney‘s are here to help all clients in whatever capacity they need. Examples of tasks that may incur additional fees in the future include, but are not limited to, filing amendments, reaffirmation agreements, lien avoidances, help with loan modifications, reinstatements, foreclosure, repossession, lawsuits and adversary proceedings. We may also recover lost assets or money that rightfully belong to you, pursuant to applicable law, on a contingent or hourly fee, subject to our approval and at our sole discretion.