Bankruptcy laws are enforced for the interest of debtors so that they will be able to wipe off their debts and start afresh. Nevertheless, bankruptcy filing with the help of an attorney costs a few thousand dollars. Unfortunately, debtors are not in a position to pay such a cost, which leads to increased debt amounts.
Hence, online filing software comes into the picture. With this option, a person doesn't need to spend huge legal fees, if he chooses to proceed by do-it-yourself steps for this situation.
The process of bankruptcy code, either online or normal procedure, requires a lot of diligence and patience from the applicant's part. Needless to say, a debtor needs to fill more than 30 pieces of legal paperwork correctly. Any mistake in the provided information may cause delay or dismissal of the claim.
Thus, it is very crucial for every applicant to have a thorough knowledge about the bankruptcy forms, and the expected answers to the questions. Here are some useful instructions.
Search for Reliable Sites
Strictly speaking, a debtor cannot directly file for bankruptcy online. However, to simplify this, there are many online services that help in filling the forms and preparing for the claim. Also, you can find companies that allow a debtor to download the forms and fill them. As per your choice, search for reputable companies which have satisfied customers.
Prepare a list of creditors and their related bills with which you owe money, and keep the documents together in a folder. Determine the courts where you want to file for bankruptcy.
Visit the bankruptcy court's website and click on the link for forms. Online filing is done only through Pacer system, which is a Federal database regulated by the concerned courts. For using this system, you need to pay a minimal fee via Internet, or by means of direct-dial access.
Examine the type of bankruptcy which you are filing; Chapter 7 is for elimination of debt and Chapter 13 deals with a repayment plan. Fill the necessary claim forms and take printouts for filing in the court.
Or else, take the help of a paralegal for downloading and filling the forms according to the directions, as suggested by the legal assistant. Submit the completed forms to the local bankruptcy courts.
Be ready to go before the court. According to bankruptcy laws, this meeting is mandatory for every applicant. Over here, the debtor is allowed to state the claim in front of the creditors involved in the case. If the debtor makes his own petition, he will be asked to be present alone. He can also appear with an attorney, who will represent him in the court.
The thumb rule to succeed in this matter is to submit correct paperwork, as demanded by the court. In case of any confusion regarding the procedure, an applicant should take the help of an experienced professional.
After all, successful passing of the claim is what everyone wants at the end of the process. Hence, spending money for paying a bankruptcy lawyer is a practical decision, rather than getting the claim dismissed or canceled due to incorrect information.