Bankruptcy laws are enforced for the interest of debtors, so that they will be able to wipe of their debts and start fresh. Nevertheless, as we all know, bankruptcy filing with the help of an attorney costs a few thousand dollars. Unfortunately, debtors are not in a position to pay cost of bankruptcy, which leads to increased debt amounts. This is where, filing bankruptcy online software comes into the picture. With this option, a person is not needed to spend huge legal fees if he chooses to proceed by do-it-yourself steps for bankruptcy filing.
How to File Bankruptcy Online?
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. So, it is very crucial for every applicant to have a thorough knowledge about the bankruptcy forms and the expected answers to the questions. Following are some useful instructions for online bankruptcy filing.
Search for Reliable Sites
Strictly speaking, an individual having financial problems or a debtor cannot file bankruptcy online directly. However, to simplify this, there are several online services that help in filling the forms and preparing for the claim. Also, you can find companies that allow a debtor to download and fill the forms. As per your choice, search for reputable online companies that have satisfied customers.
Make a list of Creditors
The second step for claiming bankruptcy through online services is preparing a list of the creditors, with which you owe money. Collect all the related bills of the creditors that you want to file bankruptcy with. Keep the documents together in a folder. Determine the courts to which you will have to file bankruptcy. Following this, inquire the number of copies required for filing the claim.
Collect Bankruptcy Claim Form
Visit the bankruptcy courts website and click the link for forms. Online bankruptcy filing is done only through Pacer system, which is a Federal database regulated by the concerned courts. For using this online system, you need to pay a minimal fee via Internet or by means of direct-dial access. As you go through the software for filing bankruptcy online, you will come to know the required forms for the procedure.
Fill Claim Forms
Examine the type of bankruptcy that you are filing; Chapter 7 is for elimination of debt and Chapter 13 deals with repayment plan. If possible, fill the necessary bankruptcy claim forms and take printouts for filing in the court. Or else, take the help of a paralegal for filling forms and download them according to the directions as suggested by the legal assistant. Then, submit the completed forms to the local bankruptcy courts.
341-Creditor Meeting
Last but not the least, be prepared to be present before the bankruptcy court. According to bankruptcy laws, this 341-creditor meeting is a mandatory step 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 present alone. Or he can appear with an attorney, who will represent him in the court.
As you know, the thumb rule to succeed in filing bankruptcy online is to submit correct paperwork, as demanded by the bankruptcy 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. So, spending money for paying a bankruptcy lawyer is a practical decision, rather than getting the claim dismissed or canceled due to incorrect information.
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