Online
Bankruptcy Procedure
Introduction to Bankruptcy Procedure
Filing bankruptcy is a multi-step bankruptcy procedure that starts
with doing some basic information organizing by the debtor. Debtors
start by compiling a list of their creditors and their debts. These
are creditors who could have a claim on any of the debtor's
property.
The debtor then hires us to prepare the bankruptcy petition as well
as the other bankruptcy schedules. The bankruptcy forms are
prescribed by the chapter 7 procedures of the Federal bankruptcy rules. Once
finished, the next step in the
bankruptcy procedure is to file the documents with the
bankruptcy court. The bankruptcy court assigns a case number.
Since filing bankruptcy is an
administrative procedure the debtor does not get to meet with a
bankruptcy judge. The bankruptcy procedure f7 or case is administered
by a bankruptcy trustee and if it is a routing case, in chapter 7
cases, there are no creditor claims or motions or objections.
Bankruptcy law is clarified by the federal rules of bankruptcy
procedure.
The personal bankruptcy procedure allows debtors to list any type of debts
including, law suits, leases, credit card debts, debts owing
to any entity or subdivision thereof. The rule calls for simply
providing the bankruptcy court with a clear picture of the case.
Bankruptcy Procedure calls for the following steps:
- Preparing the bankruptcy forms listing the debts and assets and other
financial information
- The debts include secured and unsecured debts
- The debtor takes a 90 minute credit counseling class
- Bankruptcy code or bankruptcy law calls for listing the assets
-
Bankruptcy procedure does not require a bankruptcy attorney or bankruptcy
lawyer
- After the case is file in bankruptcy court the court schedules the 341a
creditor meeting with the trustee
- At the hearing the debtor answers a few questions and the is usually all
there is to it.
With the advent of the internet, the best way to file
bankruptcy is online with a full-service company such as ours.
Personal bankruptcy refers to a chapter 7 or chapter 13 bankruptcy
where the debtor is a natural person, as opposed to a corporation or
business entity.
You file personal bankruptcy online by filing a bankruptcy petition along
with a series of schedules numbering from A to J and various
required statements as mentioned above. As per the bankruptcy
procedure f7 under the
new bankruptcy law enacted in
2005, you also need to pass a bankruptcy means test. You can file
personal
bankruptcy
online as an individual
or jointly as husband and wife.
Personal bankruptcy
is also characterized by the fact that the debts being filed against
are consumer debts such as credit cards, personal loans, medical
bills etcetera.
Online bankruptcy entails that you submit the
information required for your bankruptcy through an online
bankruptcy questionnaire. When the forms are ready, as per our
bankruptcy procedure f7, the finished documents are sent to you by
email or by an online download.
Click here for PRICING and our special online
bankruptcy discount
Online Bankruptcy Procedure and The Chapter 7 Bankruptcy Means Test
The means test is required by the chapter 7 bankruptcy procedure for
personal bankruptcy filing where the
debtor is a natural person and this applies to online bankruptcy
preparation. 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
online personal bankruptcy means test then you
qualify to have your debts discharged. This is of significance in
chapter 7 bankruptcy filing.
Under the current bankruptcy procedure 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. That is not found in the chapter 13
bankruptcy procedure.
Procedure for the Online Bankruptcy Forms
Preparing the
personal
online 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 bankruptcy procedure.
On top of that, the new bankruptcy procedure 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.
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 with the new
bankruptcy procedure you must have
your documents prepared online professionally by a full-service company.
The advantages of having your personal all done online are that you
is that with online bankruptcy you can work at your own pace. You
gather your bankruptcy information at your own pace and you submit
it to us online at your own pace.
Because of the burdens of the new law and the new bankruptcy
procedure, many bankruptcy attorney's
have doubled their prices just to make it worth their while. With
our
online bankruptcy procedure, you pay one low fee, no matter how
complicated your case is.
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 bankruptcy questionnaire and we get all of
the mountains of paperwork done so that all you do is sign your name
and file.
What is The Crazy
Guarantee?
Why is It so radical? 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 Online Bankruptcy Procedure Resources
If you decide to shop around first then additional reading can be
found as follows. Bridgeport 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 procedure 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 Online 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 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 online bankruptcies procedure 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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