How Do I File Bankruptcy Forms

We need bankruptcy forms in order to file bankruptcy so how do I file bankruptcy forms

? There are many ways you can file bankruptcy forms. One way is through internet which can cost about 14 to 29.95$. Another way is to obtain them manually through the help of a bankruptcy lawyer. Having a bankruptcy lawyer to help you with your bankruptcy forms is highly encouraged. The risk of making mistakes in doing your bankruptcy form can cause you to lose more assets than you need to.

Before you file your bankruptcy forms, you need to know which type of bankruptcy you fit in. There are mainly two types of bankruptcy that are common today. You can either file for a chapter 7 type of bankruptcy or you can file for a chapter 13 type of bankruptcy. The two types of bankruptcy are different in many ways. Chapter 7 is referred to as a straight or liquidation bankruptcy. This type of bankruptcy will liquidate all your properties in exchange that all your debts would be discharged. The properties that will be liquidated will generate proceeds that will be distributed to your creditors.

The whole idea in a chapter 13 type of bankruptcy is a repayment plan, which is mostly provided to you by a credit counseling agency. In order to qualify for this type of bankruptcy, you must have a steady income that if minus all your expenses will still leave a disposable amount enough to pay for your debts for the period of time agreed by your creditors.

Once you get familiar with the different types of bankruptcy, you can collect all your financial information to be filled out in your bankruptcy forms. You can hire a bankruptcy lawyer to prepare your papers. You can asked him questions regarding you bankruptcy forms because he is authorized to make advices for you, unlike a petition preparer which only filled out the forms but is not certified to make legal advice to clients. But this costs you a lot of money.

Another way to save some time and money is to hire a petition preparer that can prepare your papers and documents for you. Make sure that the petition preparer follows the legal rules on how bankruptcy forms should be filled out. Once the petition is prepared, you can file in it court which will give you an automatic stay effect and can stop your creditors from contacting you, calling you or pressuring you to pay your debts. This is money saving and the end result is the same. For support on how do I file bankruptcy forms, visit the link below.

by: Steve

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