File bankruptcy without a lawyer

File bankruptcy without lawyer To put in simple words bankruptcy is a procedure in which you come out of debts. Personal bankruptcy is basically of two types Chapter 7 and Chapter 13 bankruptcy. Filing bankruptcy is a long process and is usually taken care of by lawyers who specialize in bankruptcy laws. However, consumers can avoid taking the help of lawyers but would have to take a lot of pain and understand the process of bankruptcy for it.

Filing bankruptcy without lawyer

The first step when you File bankruptcy without a lawyer is to decide the type of bankruptcy that you are eligible for and can file. For personal bankruptcy you can choose between Chapter 7 and Chapter 13 bankruptcy.

In Chapter 7 bankruptcy your assets are liquidated and the creditors are paid. In case of Chapter 13 bankruptcy your debts are reorganized and you are given a repayment plan, which would help you in paying back the creditors in a specified period of time.

In either of the options you are supposed to attend credit counseling before filing bankruptcy according to the new bankruptcy laws. After attending the counseling you would get a certificate, which you are required to produce in the court.

There are a number of kits available online that you can take help of. These kits would tell you how to file bankruptcy and what are the measures that are to be taken. Besides there are many credit counseling centers that help people file bankruptcy on their own. When you select an organization you should make sure that there are support services available so that you can easily get assistance at any time that you require.

The bankruptcy consists of 40 pages and everything is written in legal lease. At times the lawyers also find it confusing. The bankruptcy forms would list all the debts and your income, assets and much more. If you wish to understand all these then you can avail the bankruptcy kits or the online bankruptcy software to understand these issues clearly. However these services would not check whether you have filed all the forms correctly and whether all the deductions have been filed properly.

Filing bankruptcy step by step

After you have all the information about how to File bankruptcy and have gathered all the required resources then you should make a list of all your creditors and contact them. When you contact the creditors ask them for the following details

Name and address of creditor, and or attorney, if any.

The account number and the basis for claim.

When was the debt incurred

The total amount of claim

Name and address of the co- 's if any

After you have this information then you should start compiling your personal information. You are supposed to put all your information in the following manner.

Name, address, phone number, social security number, age and tax Id number, if any.

Name of your spouse's, address, phone number, social security number, age and tax Id number, if any.

If you have filed for any bankruptcy in the last 6 years then when they were filed, case number and date filed.

Your and your spouse's from employment or business

Payments to the creditors (i.e. or any other debts more than $600.00 made within 90 days of the proceedings.

Suits, garnishments, executions and attachments.

Any sort of repossessions, foreclosures and returns within one year that immediately precedes bankruptcy

Any kind of receiverships and assignments made within a year of the filing of this bankruptcy.

Gifts over $100.00 to charities and over $200.00 to family members.

Losses from any reasons like theft, fire or other casualty including gambling.

Payments that are related to or bankruptcy within one year before filing.

Any sort of property transfers

Details of any accounts closed within the last year.

Details of safe deposit boxes like where are they located, people with access, the contents of the boxes and the surrender date.

Set-off made by creditors within the last ninety days and the date it occurred.

Property that is owned by another person but that is under your hold or control.

If you have shifted your residence in the last two years, then list of all the previous addresses and dates.

Income information that should be specific the gross paycheck, estimated overtime, deductions etc. for both you and your spouse

Your monthly budget including all expenses.

List of all property including real estate, , and cash on hand, furnishings, personal effects etc owned by both you and your spouse.

For Chapter 13 bankruptcy also the same information is required but goes a step further to avoid foreclosure.

When you take the help of bankruptcy kits then you get along the legal forms, worksheets and other things that are very helpful to people who file bankruptcy without taking the help of a lawyer. In case you get stuck with the procedure or are confused regarding any feature then you can always consult lawyers who provide free consultation.

Before you File bankruptcy in the court you should make sure that the information should be accurate and complete. The court proceedings are quick and you are required to be prepared with all the necessary documents. Once in the court then you are required to present yourself in front of the judge who would either accept your case or decline it after assessing your condition.

Though it is not necessary that you take the help of a lawyer but it is highly recommended that you take the help of one because of the fact that the bankruptcy laws are complex and beyond your understanding. Besides this the lawyer can give you a good representation and would cost you from $1,500 to $2,000. You should consider all the pros and cons before starting to file bankruptcy without a lawyer. New bankruptcy reform means test -Bankruptcy/Terms you need to know concerning bankruptcy Bankruptcy attorneys Chpater 13 meeting of creditors

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