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Representing Consumers in Cedar Rapids

We service the needs of clients statewide, but our main service area is in Eastern Iowa, including the "Corridor" of Cedar Rapids and Iowa City. Our main office is in Iowa City, which is a short drive for most people in search of quality representation. If traveling to Iowa City is a hardship, we are happy to arrange meetings at our friends Nazette Marner Nathanson and Shea, 615 2nd Street SW, Cedar Rapids. 

Cedar Rapids Links and Resources:
 

111 Seventh Avenue SE

Cedar Rapids, IA 52401-2101

Phone number: (319) 286-2200 
 
 

819 5th St SE

Cedar Rapids, IA 52406

Phone number: 1-877-653-3123

 

Latest Happenings in Cedar Rapids that Relate to Bankruptcy

 

Cedar Rapids Gazette No Longer Publishing Names of Bankruptcy Filers

One concern shared by most bankruptcy filers is that their bankruptcy filing may be published in a local newspaper. The Cedar Rapids Gazette had published this information in the past, but is no longer doing so. One less concern for Cedar Rapids area residents!

 

Unemployment Down

The unemployment rate in Iowa was down slightly in October 2014, according to the Cedar Rapids Gazette. That's good news, but credit is still hard to get and many consumers are still carrying debt from the Great Recession. That old debt is leading to garnishments and other collection activity. Consumers often only consider bankruptcy to clear their old debt when their incomes are rising and credit is available, but they should consider it a few years ahead of applying for credit to give their credit rating time to recover. Sometimes, consumers lose as much or more money to wage and bank account garnishments than they would pay for a bankruptcy filing.

 

"Zombie Debt" a Problem 

A problem affecting people nationwide -- and therefore in Cedar Rapids -- is highlighted in a recent New York Times article. Consumers file bankruptcy to seek forgiveness of debt, and creditors are supposed to make appropriate notations on the consumers' credit reports showing the debt was forgiven. Some big banks apparently are viewing those credit reporting rules as voluntary guidelines only, and are essentially blackmailing consumers to pay discharged debts by showing those debts as still owing on credit reports. The Department of Justice's Office of the United States Trustee is investigating, and bankruptcy judges are furious.

"Zombie Debt" means debt that will not remain dead. It has been a problem outside of bankruptcy, such as when creditors and debt buyers try to collect debts that were paid or which are too old to pursue, but it hasn't been a problem for debts discharged in bankruptcy until recently. It is hard to imagine this situation will be allowed to stand. 

 

 

 

 

 

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