Bankruptcy Alternatives
Introduction to Bankruptcy Alternatives
There are several
alternatives to filing bankruptcy but few of them really work.
The reason personal bankruptcy alternatives do not work is that by the time
you think about using them it is too late.
You owe somebody a lot of money and they want their money not a
personal bankruptcy alternative. If someone owed you money what would you
want? Money or a bankruptcy alternative t2? You would want them to pay
you in real money not some alternative.
The only alternative to paying your debts is to file bankruptcy.
That is as straight as it can be said.
Most people who try alternatives fail miserable. Even if they enter
into a specialized payment plan, they eventually fall out of it and
file bankruptcy. So what are the alternatives.
They bankruptcy alternatives are:
- Refinancing the debt or debt consolidation
- Taking a second on your mortgage to pay the debt
- Consumer credit counseling
- Borrowing more money from one lender to pay another.
As you can see, these personal
bankruptcy alternatives are a plain waste of time. The
statistics are that of all those who start out with consumer credit
counseling, the vast majority of them drop out within a year and
file bankruptcy anyway.
If you are drowning in a sea of debt, why not skip all the worthless
bankruptcy alternatives t2 and
get it all over with a chapter 7 bankruptcy?
You can file personal bankruptcy by filing a bankruptcy petition along
with a series of schedules numbering from A to J and various
required statements. Under the
new bankruptcy law enacted in
2005, you also need to pass a bankruptcy means test.
Personal Bankruptcy and The Means Test
The means test is required for
personal bankruptcy filing where the
debtor is a natural person. It is intended to determine if you
qualify under the BAPCPA act which supposedly tries to prevent
abusive bankruptcy filing. The truth though is the new
bankruptcy
law favors the credit card companies and was written by them. In any
case, if you pass the personal bankruptcy means test then you
qualify to have your debts discharged. A
bankruptcy alternative will not help you in this area.
This is of significance in
chapter 7 bankruptcy filing. There is the equivalent of a means test
for chapter 13 in so much as the that the calculations are very
similar. However it is not called a bankruptcy means test for
chapter 13 bankruptcies. In you have to file chapter 13, there are
no real chapter 13 personal bankruptcy alternatives.
Preparing the Personal Bankruptcy Forms Online
Preparing the
personal bankruptcy forms
needed for filing a
chapter
7 bankruptcy is a daunting task. Before you begin to panic, that is
our bad news, not yours. For one, the man-hours needed to put
together the 6 page
personal bankruptcy means test document can be
compared to that need to prepare two or three
complete personal
bankruptcies under the old laws.
On top of that, the new bankruptcy law has caused a typical
personal bankruptcy
forms set to balloon from about 23 to 35 pages under the old law to
about 50 to 75 pages under the new
bankruptcy law.
There are just no good personal bankruptcy alternatives, so you most
likely will file chapter 7 or chapter 13 bankruptcy.
Click here for PRICING and our special online
bankruptcy discount
In the past, a lot of people hacked away at their own
personal
bankruptcies inch by inch, week after week, until it was done, but
with the new laws, that is a thing of the past. Now you must have
your documents prepared professionally by a full-service company.
Because of the burdens of the new law, many bankruptcy attorney's
have doubled their prices just to make it worth their while.
Bankruptcy alternatives do not change the cost landscape
especially if you are going to file bankruptcy anyway.
In a long distance conversation the other day, one of
the lowest
priced personal bankruptcy attorneys in Austin confirmed that they
had raised their price from $595 to $1595 because of the paperwork.
None of this need bother you because we take all the responsibility
of preparing the paperwork on ourselves.
You fill out our 20 minute online questionnaire and we have
the mountains of paperwork prepared so that all you do is sign your name
and file. This is better than any bankruptcy alternative t2.
If you want more information on our
services other than this short summary, then read on, otherwise go
straight to the order page and sign up.
What is The Crazy
Guarantee?
Why is It so different? Why is there
nothing like it anywhere else?
Click here for
more details on Chapter 7 - You can click here for detailed information
on what we will do for you and to find out exactly what the
crazy guarantee is.
---- or-----
Click here to
sign up for Chapter 7 - If you have familiarized yourself with this site
and are ready to get started, then click here to sign up.
Click below for chapter 13
Additional Personal Bankruptcy Resources
If you decide to shop around first then additional reading can be
found as follows. Bridgeport personal bankruptcy discuses
filing bankruptcy as well as the intricacies of
personal bankruptcy filing and the pros and cons of
filing online bankruptcy in the areas of
chapter 7 bankruptcy. Comparison of
attorney bankruptcies is covered too. This effort hopefully will
end up helping you to get the
best bankruptcy forms possible.
USA bankruptcy software provides
additional reading in the areas of
filing bankruptcy online, as wells what every debtor must know
to file chapter 7 bankruptcy can also be of benefit. It also
helps to fully understand the options available for filing a
personal bankruptcy particularly if you need a
chapter 7 bankruptcy. There are those who in spite of what we
offer still want to examine the
online bankruptcy software option and that too is a beneficial
endeavor. After visiting all of these other resources, return to us
to prepare your
official bankruptcy forms.
DebtorAid.com explores some of these same areas,
namely, using
bankruptcy software for
online bankruptcy
filing. It also compares the role of
bankruptcy
attorneys with that of full-service companies who prepare
bankruptcy forms
for US
personal bankruptcy filing.
State Specific Persoanl Bankruptcy Resources
As we mentioned earlier, there are state specific
bankruptcy exemptions that you must be aware of. Since the largest states are
California, Texas and Florida, you will find these personal bankruptcy exemption sites
useful.
California bankruptcies are marked by their use of two separate bankruptcy
exemption schemes, System 1 and System 2. If you are filing in bankruptcy in
California, do not fail to examine the differences.
Texas bankruptcies filings are know for their robust
Texas
bankruptcy Exemptions. They have the most generous bankruptcy exemptions for
chapter 7 bankruptcy filing. Bankruptcy exemptions are particularly pertinent to
personal bankruptcy filing.
Florida bankruptcy filing is perhaps that largest contributor to bankruptcy
filing in the United States. Florida bankruptcies have good exemptions like
Texas and California bankruptcies. If you live in some of the other large states
then topics such as
bankruptcy in New York, figuring out the rules for personal
bankruptcy filing in Illinois, dealing with
online bankruptcies in Ohio and
Pennsylvania bankruptcy will be of interest.
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