Do It Yourself
Bankruptcy
Introduction - Do It Yourself Chapter 7 Official Bankruptcy Filing
There was a time when do-it-yourself bankruptcy was barely an option. Those
that could do it themselves were the few employed in the legal services sector
but those days have long gone. What changed?
What changed was the the credit card companies out-smarted the lawyers and
wrote a new bankruptcy law which complicated the whole process and set major
hurdles in the path of average people. It used to be that if you could do it
yourself and file your bankruptcy forms, you were certain of a discharge. It
almost did not matter what you put down on your bankruptcy forms. Just filing
the free do-it-yourself bankruptcy forms was all one needed. As of 2005, that is no
more the case.
Why Do-it-Yourself Bankruptcy Filing No Longer Works
Some years ago, an ex-insurance company executive spilled the secrets on how
insurance policies are written. He said that after the policy is drafted, they
present it to several attorneys and if any of them understands it, they revise
it and revise it again and again until no attorney can understands it. This is
why for example, they argue that flood is not water damage or that mold
resulting from flood is not covered under the policy. This is pretty much what
the credit card companies did when they write the 2005 bankruptcy laws, They
first complicated the process of filing bankruptcy so that no lay person could
understand it and then they threw in qualification standards that can not be
figured without a computer. They call it the bankruptcy means test.
Full-Service vs. Do-it-Yourself
This is exactly why it is not possible anymore to have a do it yourself
bankruptcy wherein you actually prepare the do it yourself bankruptcy forms by
yourself. You must either hire a bankruptcy attorney or you must hire a
full-service bankruptcy company such as ours. The necessary bankruptcy
calculations is like a train wreck. Where does one start? Take the bankruptcy
means test forms for example. They contain almost 100 questions many of which
draw from up to 7 or 8 government data bases such as the IRS, census bureau and
the department of Health. Try doing your bankruptcy filing with do it yourself
bankruptcy software and you will soon abandon
it to seek professional help.
This may be bad news for some but for those who have discovered us, it can be
a walk in the park. It is not that preparing a bankruptcy is different for us.
It is that we fight fire with fire. They require tons of computer calculations
and we do the tons of computer calculations flawlessly. If your were try a do it
yourself bankruptcy filing, your bankruptcy would be riddled with errors and you
would most likely never see the light of day.
The same applies to do it yourself bankruptcy kits and do it yourself
bankruptcy forms. They are just not worth the effort.
We have prepared many thousands of bankruptcies, so much more than any
bankruptcy attorney has ever done. So what could be an nightmare in a do-it-your
self bankruptcy filing is indeed a breeze for us.
Comparison of Chapter 7 and Chapter 13 official bankruptcy forms
Chapter 7 bankruptcy is intended to discharge debts wherein you
never have to pay them back again. In contrast, chapter 13
bankruptcy involves paying back your creditors, particularly the
secured creditors.
Chapter 7 bankruptcy also requires a bankruptcy means test to
show you qualify. The distinguishing bankruptcy form between chapter
7 and chapter 13 bankruptcy is not actually an official form. It is
a repayment plan for chapter 13 which details how the debts are to
be repaid.
How to file Chapter 7 Official Bankruptcy Forms Online
You file
personal
official bankruptcy forms online by filing a bankruptcy petition along
with a series of schedules numbering from A to J and various
required statements as listed above. The official bankruptcy
forms
listed above apply to chapter 7 and to a large extent to chapter 13
bankruptcies as well.
Under the
new bankruptcy law enacted in
2005, if your are filing
chapter 7 official bankruptcy forms, you also need to pass a bankruptcy means test. The filing of
ones bankruptcy online denotes that the preparation of the documents
are done online. Online bankruptcy entails that you submit the
information required for your bankruptcy through an online
bankruptcy questionnaire. The
finished official bankruptcy forms are sent to you by
email or by an online download.
Click here for PRICING and our Special bankruptcy
discount
Online Bankruptcy forms and The Chapter 7 Bankruptcy Means Test
The means test is required for
personal
chapter 7 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 chapter 7 bankruptcy means test then you
qualify to have your debts discharged. 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.
Preparing the Online Chapter 7 Official Bankruptcy Forms
Preparing the
personal online official 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 official bankruptcy forms set to balloon from about 23 to 35 pages under the old law to
about 50 to 75 pages under the new chapter 7
bankruptcy law.
Because of the burdens of the new law, many
chapter 7 bankruptcy attorney's
have doubled their prices just to make it worth their while. With
our
online bankruptcy service, you pay one low fee, no matter how
complicated your case is.
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 online professionally by a full-service company.
The advantages of having your personal chapter 7 bankruptcy all done online 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.
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
This site covers free bankruptcy information in these other areas:
For chapter 7 bankruptcy and chapter 13 bankruptcies, differences
between
filing personal bankruptcies and business bankruptcies; the
benefits of
filing bankruptcy online; the role of
bankruptcy attorneys in chapter 7 and 13 cases; a discourse of
bankruptcy laws in the United States; a list of the necessary
chapter 7 official bankruptcy forms needed to file chapter 13 bankruptcy;
various state specific bankruptcy laws including
Texas bankruptcy, filing
California bankruptcy and
Florida bankruptcy to name just a few; the bankruptcy means test
required in
chapter 7 bankruptcies; an overview of bankruptcy exemptions
which allow you to keep most of your properties after
filing online bankruptcy; the official bankruptcy forms. It also
discuses the concept of do-it-yourself bankruptcy filing and
compares it to hiring a bankruptcy lawyer. We also talk about
various approaches to bankruptcy software, and then deal with
reestablishing credit after bankruptcy. For your convenience, we
provide a directory of all the bankruptcy courts in the United
States.
Additional Do-It-Yourself Bankruptcy 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 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 Do-It-Yourself 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 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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