Bankruptcy in Iowa
Bankruptcy in Iowa
Quick Links and information for filing bankruptcy in Iowa
Northern District of Iowa Courts
Northern district
All individuals who file for bankruptcy in Iowa are required to get some information on debt counseling services debt management courses that are available. Filing for chapter 7 or chapter 13 in Iowa is about the same in terms of cost. Between $275-$300.
Admin procedures for a chapter 13 discharge
Official bankruptcy forms
Filing without an attorney – Bankruptcy is a complicated process. Make sure you know your options.
Top reasons to hire an Iowa bankruptcy attorney:
- Protection from creditor calls, mail, and general harassment
- Protecting yourself from uncertainty
- Covering yourself from the unknown
- Protecting yourself from common mistakes
Chapter 7 Bankruptcy
A Chapter 7 is commonly called a liquidation of assets chapter. In a chapter 7 you will be assigned trustee who is ultimately responsible for gathering information. If or when a sale is made from the proceeds from the sale of assets it can be used to make pay offs. Therefore, it is wise to understand that a Chapter 7 may result in the loss of property.
Clerk’s Office Addresses
Clerk’s Office
United States Bankruptcy Court
Northern District of Iowa
P.O. Box 74890
Cedar Rapids, IA 52407-4890
Clerk’s Office
United States Bankruptcy Court
Northern District of Iowa
320 6th Street, Room 117
Federal Building
Sioux City, IA 51101
Clerk’s Office
United States Bankruptcy Court
Northern District of Iowa
P.O. Box 74890
Cedar Rapids, IA 52407-4890
Chambers Addresses
Honorable Thad J. Collins
United States Bankruptcy Court
Northern District of Iowa
425 2nd Street SE
Suite 800
Cedar Rapids, IA 52401
Honorable William L. Edmonds
United States Bankruptcy Court
Northern District of Iowa
320 6th Street
Federal Building
Sioux City, IA 51101
Honorable Paul J. Kilburg
United States Bankruptcy Court
Northern District of Iowa
425 2nd Street SE
Suite 800
Cedar Rapids, IA 52401
Iowa Bankruptcy Exemptions
Real property or an apartment to an unlimited value; property cannot exceed ½ acre in town or city, 40 acres elsewhere
499A.18, 561.2, 561.16
May record homestead declaration
561.4
Alimony, child support needed for support
627-6(8)(d)
Liquor licenses
123.38
Property of business partnership
544.25
Disabled firefighters, police officers (only payments being received)
410.11
Federal government pension (only payments being received)
627.8
Firefighters
411.13
Peace officers
97A.12
Police officers
411.13
Public employees
97B.39
Other pensions needed for support (only payments being received)
627.6(8)(e)
Appliances, furnishings and household goods to $2,000 total
627.6(5)
Bibles, books, portraits, pictures and paintings to $1,000 total
627.6(3)
Burial plot to 1 acre
627.6(4)
Clothing to $1,000 plus receptacles to hold clothing
627.6(1)
Health aids
627.6(7)
Motor vehicle, musical instruments and tax refund to $5,000 total, no more than $1,000 from tax refund
627.6(9)
Rifle, musket; shotgun
627.6(2)
Wedding or engagement rings
627.6(1)
Adopted child assistance
627.19
AFDC
627.6(8)(a)
Local public assistance
627.6(8)(a)
Social security
627.6(8)(a)
Unemployment compensation
627.6(8)(a)
Veterans’ benefits
627.6(8)(b)
Workers’ compensation
627.13
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TOOLS OF TRADE
Farming equipment; includes livestock, feed to $10,000 (can’t include car, In re Van Pelt, 83 B.R. 617 (S.D.IOWA 1987) )
627.6(11)
Non-farming equipment to $10,000 (can’t include car, In re Van Pelt, 83 B.R. 617 (S.D. Iowa 1987) )
627.6(10)
Minimum 75% of earned but unpaid wages, pension payments; bankruptcy judge may authorize more for low-income debtors
642.21
INSURANCE
Accident, disability, health, illness or life proceeds or avails to $15,000, paid to surviving spouse, child or other dependent
627.6(6)
Employee group insurance policy or proceeds
50-.12
Life insurance proceeds to $10,000, acquired within 2 years of filing for bankruptcy, paid to spouse, child or other dependent
627.6(6)
Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors
508-32
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735-5/12-1001(b)
Includes wages
In re Johnson,
57 B.R. 635 (N.D. ILL 1986)
