Now days, with the wide availability of bankruptcy form processing services on Internet, filing bankruptcy online has now become easier and the good part of the story is that the process is very easy and time saving. If you understand the legal requirements associated with filing bankruptcy and you know what are the forms that you need to fill and submit in this regard, you do not even require hiring a bankruptcy attorney to help you with the procedure of filing bankruptcy.
In fact, there are plenty of ways you can use to file court petition for bankruptcy. For example, if you can hire bankruptcy lawyers to do the job for you or you can avail the various online bankruptcy services available on Internet, or if you are a legal expert and you know the ins and outs of the various bankruptcy laws, you may choose to go for personal filing.
They generally cite two basic reasons upon which they rest their basis for saying this: (1) that an overwhelming majority of personal bankruptcy cases are so-called "no asset" or "minimum asset" cases - meaning, cases in which the owing debtors literally have or own absolutely NOTHING that the creditors can claim or attach, let alone any money for paying the lawyer's hefty fees, and so have no basis to hire lawyers since they lack any worthy property or asset for a lawyer to protect from the creditors if they filed for bankruptcy; and (2) the FACT that bankruptcy, they say (contrary to the layman's common belief that bankruptcy is a complicated procedure), is really a relatively simple matter which often involves the mere completion of simple routine forms and submitting them to the local bankruptcy court.
If your bankruptcy case is a bit complicated and you know that you are not capable enough to defend your bankruptcy claims yourself successfully, it is always recommended to avail the valuable services of an expert bankruptcy attorney. They will never let you down. These days, even the bankruptcy lawyers choose to go for filing bankruptcy online, as it makes the process much easier and most importantly, it saves a lot of time both for the debtor and the bankruptcy attorney, but of course, it costs a little more.
But, in all of this, there's probably one piece of evidence which remains as the strongest proof, the clearest demonstration, and most incontrovertible, of the utter fallacy of the claim that bankruptcy is "complex" and beyond the capability of the average debtor to comprehend or to undertake. And that is this. Independent survey studies by this writer and others, as well as bankruptcy court statistics, show that in several parts of the United States, but more particularly in urban jurisdictions like New York, Arizona and Los Angeles, both before as well as AFTER the draconian 2005 "reform" law, a significant number of the debtors who file bankruptcy, particularly Chapter 7, still file Chapter 7 bankruptcy without lawyer. Such debtors are referred to as pro se filers, meaning, without the use of a lawyer! And, while their numbers may have been larger in the years before the BAPCPA law was implemented, that number remains significantly high even today and is now growing incrementally in the current condition of national economic recession.
The second responsibility you will have relates to the cost of bankruptcy. There is a cost to file a bankruptcy, it is a monthly cost that is largely governed by the Office of the Superintendent of Bankruptcy (a division of the Federal government). They have set a threshold level of income that is allowable given your family size. If your income falls below the threshold you qualify for a minimum cost that is set by the local trustee and if your income exceeds the threshold your cost of bankruptcy will be based on a calculation that is mandated across the country. Again, this is something that your trustee will review with you in detail well in advance of you filing for bankruptcy.
In fact, there are plenty of ways you can use to file court petition for bankruptcy. For example, if you can hire bankruptcy lawyers to do the job for you or you can avail the various online bankruptcy services available on Internet, or if you are a legal expert and you know the ins and outs of the various bankruptcy laws, you may choose to go for personal filing.
They generally cite two basic reasons upon which they rest their basis for saying this: (1) that an overwhelming majority of personal bankruptcy cases are so-called "no asset" or "minimum asset" cases - meaning, cases in which the owing debtors literally have or own absolutely NOTHING that the creditors can claim or attach, let alone any money for paying the lawyer's hefty fees, and so have no basis to hire lawyers since they lack any worthy property or asset for a lawyer to protect from the creditors if they filed for bankruptcy; and (2) the FACT that bankruptcy, they say (contrary to the layman's common belief that bankruptcy is a complicated procedure), is really a relatively simple matter which often involves the mere completion of simple routine forms and submitting them to the local bankruptcy court.
If your bankruptcy case is a bit complicated and you know that you are not capable enough to defend your bankruptcy claims yourself successfully, it is always recommended to avail the valuable services of an expert bankruptcy attorney. They will never let you down. These days, even the bankruptcy lawyers choose to go for filing bankruptcy online, as it makes the process much easier and most importantly, it saves a lot of time both for the debtor and the bankruptcy attorney, but of course, it costs a little more.
But, in all of this, there's probably one piece of evidence which remains as the strongest proof, the clearest demonstration, and most incontrovertible, of the utter fallacy of the claim that bankruptcy is "complex" and beyond the capability of the average debtor to comprehend or to undertake. And that is this. Independent survey studies by this writer and others, as well as bankruptcy court statistics, show that in several parts of the United States, but more particularly in urban jurisdictions like New York, Arizona and Los Angeles, both before as well as AFTER the draconian 2005 "reform" law, a significant number of the debtors who file bankruptcy, particularly Chapter 7, still file Chapter 7 bankruptcy without lawyer. Such debtors are referred to as pro se filers, meaning, without the use of a lawyer! And, while their numbers may have been larger in the years before the BAPCPA law was implemented, that number remains significantly high even today and is now growing incrementally in the current condition of national economic recession.
The second responsibility you will have relates to the cost of bankruptcy. There is a cost to file a bankruptcy, it is a monthly cost that is largely governed by the Office of the Superintendent of Bankruptcy (a division of the Federal government). They have set a threshold level of income that is allowable given your family size. If your income falls below the threshold you qualify for a minimum cost that is set by the local trustee and if your income exceeds the threshold your cost of bankruptcy will be based on a calculation that is mandated across the country. Again, this is something that your trustee will review with you in detail well in advance of you filing for bankruptcy.
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Frank Miller has a Debt Consolidation Blog & Finance, these are some of the articles: How One Can Find The Right Provider Of Home Loans You have full permission to reprint this article provided this box is kept unchanged.
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