The Iowa Disclosure of Compensation of Non-Attorney Bankruptcy Petition Preparer for 2005 Act is a crucial document that provides transparency and protection for individuals filing for bankruptcy in the state of Iowa. This disclosure ensures that non-attorney bankruptcy petition preparers do not exploit vulnerable individuals seeking bankruptcy relief by charging excessive fees. Under the Iowa Disclosure of Compensation of Non-Attorney Bankruptcy Petition Preparer for 2005 Act, there are two main types of disclosures: 1. Standard Disclosure: The standard disclosure refers to the required information that a non-attorney bankruptcy petition preparer must provide to the debtor. It includes detailed information about the fees charged for bankruptcy services, such as the total amount, breakdown of charges, and any additional costs or expenses associated with the process. The standard disclosure must be completed accurately and presented to the debtor before any services are provided. 2. Itemized Disclosure: The itemized disclosure is an extension of the standard disclosure, providing a more detailed breakdown of the fees charged by the non-attorney bankruptcy petition preparer. It includes a comprehensive list of all the services provided, along with their respective costs. This disclosure allows the debtor to have a clear understanding of what they are being charged for and to ensure that the fees are reasonable. The Iowa Disclosure of Compensation of Non-Attorney Bankruptcy Petition Preparer for 2005 Act aims to protect individuals who are already in financial distress by discouraging predatory practices and ensuring fair compensation for non-attorney bankruptcy petition preparers. By providing these disclosures, debtors can make informed decisions about their bankruptcy filings and avoid falling victim to unscrupulous actors. If a non-attorney bankruptcy petition preparer fails to comply with the Iowa Disclosure of Compensation of Non-Attorney Bankruptcy Petition Preparer for 2005 Act, they may face penalties and legal consequences. It is essential for both debtors and non-attorney bankruptcy petition preparers to be aware of these disclosures to ensure compliance with the law and protect the rights and interests of all parties involved.