Henry E. Nathanson Bankruptcy FAQ

The two most common types of bankruptcy for individuals are Chapter 7 and Chapter 13:

• Chapter 7: Eliminates most unsecured debt quickly, typically in a few months
• Chapter 13: Creates a manageable repayment plan over 3–5 years

The right choice depends on your income, assets, and financial goals. Henry Nathanson works one-on-one with Cedar Rapids clients to recommend the best path forward.

A bankruptcy petition is filed in federal bankruptcy court. The filing fee for a Chapter 7 petition is $338 and the filing fee for a Chapter 13 petition is $313. The attorney fee will be discussed and agreed upon between Mr. Nathanson and the client before the petition is filed. Reach out to Henry E. Nathanson, bankruptcy attorney in Cedar Rapids, IA, today to schedule a free initial bankruptcy review.

Income tax can often be discharged in a Chapter 7 bankruptcy petition if a return for that year was filed. If a return was filed on time, the tax debt can be wiped out if the bankruptcy petition is filed more than three years after the return was filed. If the tax return was filed late, the debt can be wiped out if the bankruptcy petition is filed more than two years after the return was filed. Reach out to Henry E. Nathanson, bankruptcy attorney in Cedar Rapids, IA, today to schedule a free initial bankruptcy review.

You cannot expect to be able to keep a credit card account open after filing a bankruptcy petition. All credit card issuers find out immediately when a person files bankruptcy. If the person has an account with a credit card issuer, the issuer will typically send the customer a letter and notify them that they are closing their account, even if there is no current balance owed on the account. Reach out to Henry E. Nathanson, bankruptcy attorney in Cedar Rapids, IA, today to schedule a free initial bankruptcy review.

Bankruptcy is a legal process designed to help individuals and families eliminate or restructure overwhelming debt. It can stop creditor harassment, prevent foreclosure or repossession, and give you a fresh financial start. 

For many people in Cedar Rapids and throughout Iowa, bankruptcy provides real relief and a clear path forward. Attorney Henry E. Nathanson takes a personalized approach to help you understand your options and decide what’s best for your situation. 

Yes. Once a bankruptcy case is filed, an automatic stay goes into effect. This immediately stops most collection actions, including: 

• Collection calls 
• Lawsuits 
• Wage garnishments 
• Foreclosure proceedings 

This protection gives you the breathing room you need to move forward with confidence and peace of mind. 

The timeline depends on the type of bankruptcy: 

• Chapter 7: Usually completed in about 90 days after filing of the petition
• Chapter 13: Takes 3–5 years due to the repayment plan

From your first consultation, Henry E. Nathanson will clearly explain what to expect and guide you through every step of the process. 

No. Most people who file for bankruptcy are able to keep their essential property. 

Iowa exemption laws protect many assets, including your home, vehicle, and personal belongings. Retirement savings accounts should be added to the list of assets that a debtor may keep in a bankruptcy case.  Henry E. Nathanson carefully reviews your situation to help ensure you keep as much as possible. 

Yes. Filing for bankruptcy triggers an automatic stay that can immediately stop wage garnishment and other collection actions. 

If your wages are being garnished in Cedar Rapids or anywhere in Iowa, those deductions are typically stopped quickly after filing. In some cases, you may even recover recently garnished funds. 

In many cases, yes. Iowa bankruptcy laws allow you to protect important assets: 

• Chapter 7 may allow you to keep exempt property 
• Chapter 13 allows you to catch up on missed payments 

Henry E. Nathanson takes a personalized approach to help you protect what matters most.

• Chapter 7: up to 10 years 
• Chapter 13: up to 7 years 

Many clients begin rebuilding credit much sooner. Bankruptcy often provides the fresh start needed to improve your financial future. 

Some debts generally cannot be discharged, including: 

• Student loans (in most cases) 
• Child support and alimony 
• Certain tax debts 
• Debts involving fraud 

Henry E. Nathanson will clearly explain what applies to your specific situation. 

Working with a local attorney means: 

• Knowledge of Iowa laws and courts 
• Personalized, one-on-one guidance 
• A trusted advocate in your community 

Henry E. Nathanson is known for his excellent reviews and personal approach—helping clients feel supported every step of the way.