Asset Protection

Council Bluffs Bankruptcy Attorneys On Your Side

Do not let embarrassment prevent you from getting the help you need. The bankruptcy lawyers at Telpner Peterson Law Firm, LLP are on your side. Our bankruptcy attorneys are skilled at covering a wide spectrum of debt relief options for consumers and businesses, from individual financial counseling and negotiating settlements with creditors to very complex commercial bankruptcies.

Even under the new laws, filing for bankruptcy can still stop creditor harassment, collection actions and wage garnishment. In most situations, you will still be able to keep your house and motor vehicles.

Types of bankruptcy law we practice

  • Bankruptcy for consumers
  • Bankruptcy for small businesses, business owners, farms and farmers

Iowa bankruptcy attorneys skilled at helping distressed debtors preserve assets

We can help you review your options with asset protection as a priority. We can help you discover bankruptcy alternatives or file bankruptcy if that is your best option. Depending on your particular circumstances, one of the following may be most appropriate

  • Chapter 7 as debt relief: Often called discharge or liquidation bankruptcy, Chapter 7 bankruptcy is a powerful tool for achieving a fresh start. In some cases, a business must liquidate assets, but through use of applicable exemption laws, you may be able to retain many assets. We understand this is an important goal for many of our clients.
  • Chapter 11 bankruptcy for business reorganization: Through the Chapter 11 reorganization process, many businesses can retain assets and continue operations.
  • Chapter 12 as debt relief for farms and farmers: Protecting assets is critical for most farmers and other debtors filing bankruptcy. Our attorneys are skilled at helping clients maximize debt relief potential while minimizing loss of assets while they take advantage of the legal remedies that bankruptcy offers.
  • Chapter 13 debt reorganization and repayment for consumers: Wage earners with significant home equity or other valuable assets often turn to Chapter 13 bankruptcy. Over three to five years, these bankruptcy filers are able to keep their homes, pay off mortgage arrearages, pay off secured debts and deal with unsecured consumer debts. Keeping assets and keeping finances under control are important benefits of this type of bankruptcy.

Creditor representation

At our law firm, we also work hard to protect the rights of creditors. Our lawyers can help ensure that you, the creditor, protect your assets and interests to the fullest extent of the law. We can advise and direct you in your efforts to retain rights to demand payment, to recover property, to challenge bankruptcy filings in court, to levy bank accounts or garnish wages or to initiate bankruptcy against a debtor, although involuntary.

Services from skilled bankruptcy litigators

The principal bankruptcy attorneys at Telpner Peterson Law Firm, LLP are Charles L. Smith and Nicole Hughes Skilled at negotiation, our bankruptcy litigators represent both individual debtors and creditors. We are also a debt relief agency, and our attorneys advise in debt settlement workouts and handle foreclosure and repossession work.

We strive to bring you friendly, professional and compassionate legal representation. Contact us and let us know how we can help you or your business resolve your financial issues.

Our Testimonials
-Rosie and Henry

Jack and Peggy helped us with a large complex estate. Any questions we had in person or by phone were answered quickly. We were always kept in the loop. We were treated as individuals and not just a number. At the close of our business, we couldn't have been happier.


Thank you for helping our family sufficiently comply with the law offering us a less expensive than traditional choice we were unaware of before your suggestion. Congratulations on your team that operates efficiently with prompt response to inquiries plus accurate document preparation and edits. Telpner Peterson sufficiently and efficiently satisfied our legal needs and did so at a reasonable fee.


Our family has been utilizing Telpner Peterson Smith Ruesch Thomas and Simpson law services for the last 30 years. We have utilized and seen the company strengthen and grow in both Business Law and Family Law services tremendously over the years. The firm understands their role in guiding and protecting your plans. Trust they will not mislead you. They truly represent midwest mentality-- hard-working, smart, and honest.

- Mark and Becky

When our family needed legal advice, we were very pleased with the service provided by Nicole and would recommend her company without reservation. They took the time to explain the process to us and kept us informed until our case was closed. We would recommend them-and have recommended them-to our family and friends.

- Jody

My husband and I became clients of Nicole Hughes almost a year ago. We had been looking for a lawyer and the few that we had a consultation with were very unhelpful. They were uncaring and basically wanted us to do all of the work. If we completed everything they asked for, then WE would have to pay them. When we initially met with Nicole we were nervous. We were sure it would be much of the same thing we had already encountered. Boy, were we wrong. Nicole was very personable. She cared about what we were going through and let us know she was there for us. She and her assistant took care of everything. She called or emailed us when she had questions, and she made herself available to us whenever we had questions or concerns. I highly recommend this law firm to anyone who needs a caring, highly knowledgeable lawyer who works for their clients. You will not be disappointed.

- Gary

Over the past seven years I’ve dealt extensively with both Chuck Smith and Nicole Hughes at Telpner Peterson Law Firm, LLP. My needs were extremely complex involving litigation and filings at both the state and federal level. They have been timely, conscientious, thorough and fierce defenders of my rights. I believe they have helped me prevail on issues where other law firms would have failed. On top of that, they are a pleasure to work with.

- Martha

I am so thankful I was referred to the firm of Telpner Peterson Law Firm, LLP, when a life changing event, the unexpected, sudden and untimely death of my husband, occurred. Their expert yet personalized legal advice made it possible to travel through a very dark, stressful time. The efficient handling of my many complex legal and financial issues eased my stress greatly and helped the future seem possible. I am still recognized as a friend and client when I call with information requests even though my issues occurred in 2006. I am eternally grateful for their help which paved the way for my bright present and future. Thank you

- Susan

We are very grateful and happy to have retained Walter Thomas and his professional team to represent us in our time of need, through a very difficult process. A very thorough and understanding group of people. Thank you Walt and Peggy.

- Sam

It was a pleasure using your law firm to help me settle my father’s estate. Although it was a difficult time, having both the compassion and expertise of your staff made the experience much easier. I would definitely recommend Telpner Peterson to all of my friends.

- Brett

My Experience with Walter Thomas was great! If I ever had any problems they were solved IMMEDIATELY, or if I had any questions or concerns he would call or email me in a very timely manner. I highly recommend Walter he is a “no beat around the bush” kind of guy, and I liked that the most about him. Hopefully I never need representation in the future, but if I do I’m calling Walt.

- Larry

The team of Shannon Simpson and Bev Driver came highly recommended from a close friend of mine. I feel that I had the best of the best in my corner and it was proven to me going through this process. They truly have your best interest at heart and you are not viewed as another number that walked through the doors. Through the process of my divorce, I lost my mom as well. They were there in my corner as well helping me along the way. I would consider Shannon Simpson and Bev Driver the most sincere, compassionate, and honest people that I have met today. They have the ability to help you see the forest through the trees, keeping you focused on what lies ahead. I truly feel that I was blessed by having this team in my corner while going through this process. They became part of my family through this process in helping me in many different ways. If you are looking for the “best of the best” then look no further. This is a firm that I would highly recommend to anyone that is willing to give 100%, as you will see in the end they will do the same. Some helpful advice: Remember Rome wasn’t built overnight, and your divorce proceedings won’t be either. I learned to have a lot more patience and let them do the job they were hired to do. Ryan represented our business in a case where we were named as Third Party Defendants. He was successful in proving we had done nothing wrong and all claims against our business were released. Ryan also went on to file a counter suit in which our business was able to recover our legal fees regarding the lawsuit. All matters were handled in a professional manner and in a timely manner.

- Al of Peoples Bank

We originally chose the Telpner Peterson Law Firm because of their knowledge and history with our particular case. We were not disappointed. Their guidance and thorough preparation through the course of our case led to a favorable result for us. I appreciate their expertise!