The Secret Of Bankruptcy Petition Preparer

Mar 5th, 2014 | By | Category: Info

In todays financial system, so many people are challenged with very difficult financial decisions. Many just lost their jobs, incurred huge medical bills or even going through a divorce. These can be fatal at times to your everyday life and financial expectations. This is one factor why so many people opted to filing bankruptcy. But since money’s the problem, so many individuals filing for bankruptcy found out they cannot afford the attorneys fees associated with filing bankruptcy. What can you do? This is where the chapter 7 bankruptcy petition preparer comes in. This is like doing your own bankruptcy but with the preparers doing your paperwork.

Get a referral. If you know a person who has filed bankruptcy, do not be afraid to ask them whether they felt their lawyer handled their case well. If you do not know someone who has filed bankruptcy before, then call a law firm outside of your area and to request a referral from them.

Judge Rosemarie Aquilina said the petition, filed on Thursday, violated the state’s laws and constitution because it threatened pension benefits. But the state’s attorney general immediately appealed against the order. Earlier, Governor Rick Snyder said the move towards bankruptcy would reverse decades of decay. Bankruptcy would allow Detroit’s state-appointed emergency manager, Kevyn Orr, to liquidate the city’s assets to try to meet the demands of creditors and pensioners. That’s hardly surprising since in bankruptcy, pension plans would be far down the …

Going through a Chapter 7 Bankruptcy doesn’t have to be costly or confusing. The new Federal Bankruptcy laws which took effect October of 2005 allow every debtor the right to run for themselves at their Bankruptcy hearing. These same laws permit a bankruptcy petition preparer to professionally complete your petition for you. This means a person who is filing for bankruptcy can file his or her own Chapter 7 and save approximately $1000 to $2000 by doing so with the support of a petition preparer.

A chapter 7 bankruptcy petition preparer is someone who prepares any document for filing by a debtor in relation with a case under the bankruptcy court. They are authorized to prepare not only to the petition, but any document which is employed in the bankruptcy case, whether he or she prepares the petition or not. A substitute to do it yourself is the complete service of chapter 7 and chapter 13 online bankruptcy petition preparers or online paralegal. This process appeals to debtors filing for bankruptcy who don’t get the money to afford the high fees of bankruptcy attorneys but at the same time don’t wish for the uncertainty and hassle of doing all the paperwork themselves. Bankruptcy preparers fill this need. They are trained people who can prepare the documents with expertise. However, to have a petition preparer prepare the petition for you doesn’t assure conformity with all pertinent laws, or that utmost advantage exemptions. Bankruptcy preparers aren’t lawyers or attorneys and they cannot give legal advice. They also don’t compete with attorneys. They just simply offer an inexpensive method to filing Chapter 7. Their services rendered, however, are limited to the development of bankruptcy documents. But if you cannot afford an attorney or don’t own a bunch of property, the bankruptcy petition preparer will proficiently complete every essential document for you. The good thing is that you will be able to file for bankruptcy much less, just at about 1/10th the cost of an attorney.

QUESTION: Hhow do i find a bankruptcy petition preparer in my area?
with outrageous lawyer fees, it's easier to file with bankruptcy petition preparer. But how to find one ?

  • Unless you have a lot of assets that can be divided up, this is something you can do yourself for no charge at all. Lawyers and preparers can be helpful if you are bankrupt, but if you are truly broke, with hardly any assets at all, don't spend your last money on someone to fill out forms for you. Go to the Office of the Clerk at your County Courthouse. They will have the forms there, and they are usually pretty helpful in explaining what you need to fill in. If it turns out that it is still too confusing, you can then look for a preparer, but I have sent several people to their courthouse to start the process, and almost everyone with at least a high school reading level can take care of their own work without paying a fee. Good luck. I wish you well.

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