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Kevin's firm handled setting up my will and trust recently. They took something that seemed intimidating and made it easy to understand. I've also referred a couple clients to Kevin - he's trustworthy, approachable and very fairly priced.
"I've used Kevin and his firm's services since 2011. He gave undivided attention to my cases, advised me on different options and..."
"Kevin was extremely professional, responsive and knowledgeable when I came to him for help. I would definitely recommend O'Flaherty Law!"
Choosing the right law firm can change everything. At O’Flaherty Law, we pride ourselves on transparency, responsiveness, and personalized care. See how we compare to the industry standard.
When you're considering bankruptcy, a Chapter 7 filing with the help of a Davenport Iowa bankruptcy attorney can be a viable option. This route helps eliminate most unsecured debts. However, it's crucial to understand that certain debts like student loans, taxes, and child support are not dischargeable. If you're overwhelmed with debt and seeking a clean slate, Chapter 7 could offer the relief you need, allowing you to manage or even discharge your secured debts.
Unlike Chapter 7, Chapter 13 bankruptcy, guided by a bankruptcy attorney in Davenport Iowa, involves a repayment plan. This option suits you if you have a steady income and wish to protect assets like your home from foreclosure. Over 3 to 5 years, you'll make structured payments to catch up on arrears, potentially saving your home and reorganizing your finances. This path also offers the possibility of discharging certain debts not eligible under Chapter 7. Currently, O'Flaherty Law is not handling Chapter 13 bankruptcy.
Filing for bankruptcy, with the assistance of bankruptcy attorneys, puts an immediate stop to collection efforts, foreclosures, and evictions. Most importantly, it offers a chance to wipe the slate clean. While some debts like alimony and certain taxes remain, the majority of your debts could be discharged, giving you the breathing space you need. Post-bankruptcy, it's possible to rebuild your credit, opening up opportunities for a brighter financial future. Your attorney will guide you through every step, ensuring you make informed decisions for your financial well-being.
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The purpose of a consultation is to determine whether our firm is a good fit for your legal needs. Although we often discuss expected results and costs, our attorneys do not give legal advice unless and until you choose to retain us.
Schedule a ConsultationLearn More About The Firm201 W. 2nd St., Ste. 400A
Davenport, IA 52801
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I am personally committed to ensuring that each one of our clients receives the highest level of client service from our team. Our mission is to provide excellent legal work in a cost-effective manner while maintaining open lines of communication between our clients and their attorneys. Many of our clients are going through difficult times in their lives when they reach out to us. They should feel comfortable leaning on the experience and knowledge of our attorneys as their counselors and advocates. We are here to help!
Our Davenport bankruptcy attorneys discuss the steps required to prepare your bankruptcy petition. Before filing, you are required to complete an online credit counseling course. These are usually relatively short and the expense is nominal.
Our Davenport Bankruptcy and debt resolution attorneys will work with you to help you provide us with information regarding your assets, liabilities, income and expenses. After a meeting with the creditors, your case will be heard in the appropriate court where your bankruptcy will then be discharged.
Read the full article by our Davenport bankruptcy attorneys regarding preparation for bankruptcy.
Keeping your home or vehicle often depends on how much equity you have in each piece asset. For example, the equity in a property is determined by the most current resale value minus the principle balance of any loans secured by the property.
If you do file for the bankruptcy, the trustee will seek collection of your assets to fulfill your debts. The Bankruptcy Code and laws in Davenport states that a portion of equity in particular types of property can be exempt from collection. These exceptions on the property you decide to keep in order to avoid the trustee collecting them on your behalf. For example:
Once our Davenport bankruptcy attorneys file your bankruptcy petition, we accompany you to the “First Meeting of Creditors.” While this seems intimidating, it's misleading considering creditors rarely attend these meetings. This meeting is between you, your attorney and the bankruptcy trustee assigned to your case. The trustee asks you preliminary questions and may do the following:
Once these questions are put on record and established, the trustee asks you questions regarding your schedules and finances. You can read a transcript of the bankruptcy trustee's usual questions here. Once the trustee enters a finding stating that you have no non-exempt assets for collection on your behalf they will recommend your debts be released. Once this happens, the case will close for a brief period. During this time creditors have the right to object to the discharge, which seems intimidating but rarely happens.Read more about the First Meeting of Creditors.
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