Are You Having Problems With Debt?

 

If so, you should consider the debt relief afforded by federal bankruptcy laws. You may find that bankruptcy provides a fresh start by allowing you to reduce, restructure, or eliminate debt while still retaining most or all of your assets.

Filing-Bankrupt.com can provide you with the information and bankruptcy forms you need to make your decision and most, if not all of the resources you will need to complete a successful filing and final discharge or reduction of most of your debt. You have listened to the telephone calls, you have read the mail and you have done the math. Now it is time for you to take action.

Bankruptcy is a court order that you can apply for if you are in serious debt. Once you have been declared bankrupt, you will no longer have to deal with the people you owe money to, your creditors.

As of October 17, 2005 (Updated as of January 1, 2008) the new bankruptcy laws changed. Entitled "The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA)". Unlike previous years, you should now receive credit counseling (you can generally get a waiver) and meet a means test. For all intents and purposes for most of us Chapter 7 Bankruptcy has now become Chapter 13 Bankruptcy. There is also a new official bankruptcy forms package that requires online information. Stop feeling guilty, stop feeling depressed, stop feeling powerless. Take the steps necessary now to protect yourself, your home and your family. There is absolutely nothing wrong with having to file a legitimate bankruptcy, That is why the option is available to you by the Federal Government. Many of us need to file for bankruptcy protection due to a loss of job, medical expenses, mortgage default, etc. This is how you get the creditors off of your back and keep the money you need for day-to-day expenses. After all, it is your time and money!

Due to the changes in the new Bankruptcy Law many lawyers will no longer handle your bankruptcy case because they would have to charge you more than you can probably afford. Or may tell you that you need a lawyer to file for bankruptcy, not true. After all, you are filing for bankruptcy. Reasons being that they have to spend more time gathering information about your finances and they become responsible for any entries made in your filing. Where lawyers may have charged $500 (plus filing fees), they will probably charge $1,500+ (plus filing fees) now.

The new bankruptcy law has made filing bankruptcy more difficult than ever before. The new bankruptcy law was fueled by credit card companies and their high powered lobbyist who wanted to make it harder for debtors to wipe out credit card debt. Bankruptcy credit counseling has been seen by many bankruptcy attorneys as an attempt to delay a debtor from seeking protection in the bankruptcy court. The delay may be just enough time for a creditor to obtain a judgment or collect garnishment funds. You need to file now.

Identity theft for bankruptcy petitioners is rampant. Do not complete you petition on-line.Download your forms here.Your information is not subject to hackers here.


Official Self Help Bankruptcy Petition Forms Package, Bankruptcy Information, and Petition Preparation Service for those without a lawyer. Prepare your own bankruptcy petition forms with our easy-to-use software package!

The best bankruptcy option:  Chapter 13is alive and well to adjust your debts and let you keep everything you own.
  • Chapter 13 is the high road to resolve your debt problems. Very powerful features of Chapter 13 let you re-amortize loans and  drop interest rates.
  • You are in charge. The Chapter 13 Trustee has no right to take any of your property!
  • Chapter 13 is completely voluntary The case must be dismissed if you want it to be dismissed.
  • You have lots of time to catch up on mortgage payments, car payments and other secured lenders.

This is where we step in on your behalf! You do not need a lawyer (lawyers nor paralegals can’t practice law on the internet). With our official forms package, which includes step-by-step instructions for each entry, you can easily complete and file your petition for a cool $450.00 (including filing fees of about $399, program / filing fees optional). Be advised that by law, no one other than a lawyer can charge you more than $200.00 to complete your forms for you and in many states paralegals must be certified.

Bankruptcy is a federal program established by United States Congress to provide debt relief to persons and organizations suffering from financial difficulties. The federal bankruptcy program was never intended to cost hundreds or thousands of dollars in attorney fees! In fact, in most cases the entire bankruptcy process consists of completing the Official Bankruptcy Forms, filing them with the bankruptcy court and attending a brief meeting with a bankruptcy trustee. No court hearing is required in most cases.

While many individuals believe they need an attorney to file bankruptcy, an estimated 400,000 consumer bankruptcies were filed in the United States last year by individuals without attorneys. We are pleased to have assisted many of those filers.

When an attorney is hired to file bankruptcy, the attorney asks the client for the information needed to complete the Official Bankruptcy Forms (which has to be verified). The information is then typed onto the Official Bankruptcy Forms by the attorney’s secretary or paralegal using automated bankruptcy form software, such as we provide. The forms are then signed by the client and sent to the bankruptcy court. About 4-6 weeks later, the client attends a brief meeting with a bankruptcy trustee and subsequently receives a final discharge order in the mail. That’s it! The typical fee charged by a bankruptcy attorney is $1,500 to $3,500, plus court fees. If you prepare your own petition you can generally get a waiver of the court fees (form included).

Filing a Chapter 13 bankruptcy has advantages over a Chapter 7 liquidation. Unlike a Chapter 7 bankruptcy, there is not a six-year waiting period before the debtor can file bankruptcy again. Thus, with only a few exceptions, the debtor can file a Chapter 7 bankruptcy at any time after filing Chapter 13 bankruptcy. This means that if the debtor is unable to make the payments specified in a Chapter 13 bankruptcy plan, the debtor can still act to discharge debts through a Chapter 7 liquidation.

We provide you with legitimate free resources for gathering necessary information for you to complete your petition (do not be fooled by so-called "Free" and $5.00 forms). There is no way you can prepare a legitimate bankruptcy petition on-line. You need to know your creditors, the amounts owed and the status of the account. Bankruptcy petition forms are not localized, they are National. Wich means that the same forms are used by all States (save your money). We provide you with links to the free software and information you will need to use our innovative Bankruptcy software package.

Our software has been developed on our forms expertise, user assistance and state of the art applications with free user fillable interface. To use our software you will need to have the following free applications installed on your computer, you probably already have them: WinZip for unzipping the files downloaded to your computer. Adobe Acrobat Reader( new 9.0 ) for completing, printing, saving and e-mailing your documents. Please continue to view this entire site for all of the information you need to make your final decisions for your self-help bankruptcy petition for the official bankruptcy law forms package, preparation services and information.

You can do it and we can help!


Filing-Bankrupt.com is your premier source for the new official data enabled (smart) basic Bankruptcy Law Forms package legal and valid for use in all 50 states...

Contrary to what some lawyers try to have you believe, by law you do not need a lawyer to file for bankruptcy protection!

You can file your own papers with the court (which is called a petition). However you must use the official and newly revised forms as of 10/05 in order to do so. These forms were finalized April 6, 2006. They have also been updated as of 12/2009.

The new forms not only require that you complete your data enabled forms on a computer you must also have an internet connection (which you obviously do).

File Bankruptcy Yourself If filing for Bankruptcy is your only solution to unbearable debt, then make your filing using our Filing-Bankrupt software. With all of the necessary forms and comprehensive overviews and instructions, Filing-Bankrupt will save you time, money and stress. This straight-forward package contains all the forms and detailed instructions you need to complete a Chapter 7 or Chapter 13 Personal Bankruptcy filing on your own, without the need for an attorney! Legal and valid in all states. These forms are updated each time a Bankruptcy law or administrative action is revised, including any changes made by the U.S. District Bankruptcy Courts! Additionally our forms do the math for you and automatically insert repetitive information. What is involved in the new bankruptcy laws? Can you still file yourself? YES! The new bankruptcy laws have basically two areas that you now have to complete in addition to the old paperwork. The first is Means Testing. What is Means Testing? It is simply comparing your income and family size to the averages in your area. If you make less than this average, it is said that "The presumption does not arise." Simply put, that means you are probably not hiding lots of money and filing bankruptcy to get out of paying debts that you can actually pay. If your income is more than the average, then you continue on with the form and input all of your expenses, such as food, housing, car, healthcare, etc. After taking into account all of your expenses, if you are still making too much money, the courts will likely force you into a Chapter 13 repayment plan. Financial Management Course The other step to filing bankruptcy now is the mandatory credit counseling. This requirement isn't as hard as it seems and can be waived. It's a simple 90 minute seminar, you do not have to take a test or anything. It's really just a ploy by the credit card companies that paid for the bankruptcy reform to get one more chance to convince you to not file bankruptcy. As with 99% of all bankruptcy filers, you wouldn't be filing if you weren't in serious trouble and could actually repay your debts. So, can you still file yourself? Absolutely! The bankruptcy laws have not changed this, you can still represent yourself in the bankruptcy court and save yourself hundreds if not thousands of dollars. The additional paperwork is not that obtrusive, although it is lengthy, but that's why we are here to prepare it for you!

Do not be fooled by ads offering bankruptcy forms for 5.95. They are only offering what you can get for free. It is just one form, when there are approximately 11 forms to file (depending upon your particular filing). In addition after you print them out, you have to complete them by hand or typewriter, you will not be satisfied! --Which is not acceptable.

Filing for bankruptcy is not an easy choice, but it is a viable choice. You can do it and we can help. This self help bankruptcy forms package is for the petition of Chapters 7, 11, 12 and 13. If you are not comfortable with completing the forms yourself, you can download the file and send/take to someone who will complete the forms for you, such as a paralegal or contact us.

The forms in this package are not only 100% compliant with the new regulations, they are also instructional and secure. They are easy to use, smart, accurate and you can file these forms electronically where available. And if all that was not enough, this bankruptcy forms package even does the math for you! These qualities and moderate pricing is what makes Filing-Bankrupt.com the premier source for you.

Included in your bankruptcy petition package: Notice to Individual Consumer Debtors, Voluntary Petition, Notice of Commencement of Case, List of 20 Largest Unsecured Creditors, Schedule A: Real Property, Schedule B: Personal Property, Schedule C: Property Claimed as Exempt, Schedule D: Creditors Holding Secured Claims, Schedules E/F: Creditors Holding Unsecured Claims, Schedule G: Contracts and Leases, Schedule H: List of Co-Debtors, Schedule I: Debtor's Income, Schedule J: Debtor's Expenses, Statement of Financial Affairs, Debtor's Statement of Intention,  Application for waiver, Order to waive filing fees and reaffirmation declaration

 
The Bankruptcy Courts require a creditor mailing matrix to be included with your petition filing. You can get our software application and templates here.

We Can Prepare Your Bankruptcy Petition Forms For You!

We understand that for some of us the preparation of the bankruptcy petition can be a daunting task. With over 15 years of experience in completing law forms, we will prepare your bankruptcy petition for you with a competence you can believe in.

Filing bankruptcy can relieve the stress you are feeling due to not being able to pay your bills. The average bankruptcy filer has an income of just $24,000 a year and has lost significant income due to either a serious medial issue, lost employment or divorce. Bankruptcy doesn't have to be embarrassing, it can give you a new start. When you file bankruptcy, creditors will immediately stop calling and mailing you, so you can concentrate on getting your life back together.

We (as well as all others) can not practice law over the internet, nor do we offer legal advice such as you get from a bankruptcy attorney. All the preparation and information on what to do on a bankruptcy situation can be answered by a bankruptcy attorney / lawyer. However we can prepare your bankruptcy petition based upon the information you provide and the information we collect, at no additional charge to you, in regards to your petition. Confidential and reliable service for your bankruptcy petition.

What do we offer?

Years of experience in preparing bankruptcy petitions for our customers.
  • A complete set of your completed petition package.
  • Mailing label matrix of your creditors for the court's use (required)
  • If needed, any additional local forms for your filing district.
  • Instructions on what to do next
  • A CD containing all of the information pertaining to your bankruptcy petition, that allows you to edit as needed

What is the process?

Once you have elected to have Filing-Bankrupt.com to prepare your bankruptcy petition and completed the payment process, you will be taken to a page to provide us with some basic information. You will also be instructed to mail us copies of any records which you feel are pertinent to your petition. These records will be returned to you via priority mail.

Upon receipt of your records and requested information, we do all of the research to identify your court for filing, any local documents required, your allowable property exemptions and identify the specific codes for you. Should any additional information be required, we will contact you to get it right.

Our typical turn around time is 5 (five) working days from receipt of your mailing. We do not maintain any information provided to us and do not sell any information. The smart bankruptcy forms package that we use to complete your petition is the same as we sell commercially, the only difference is that we do most of the work. All information is returned to you via Priority Mail.

We look forward to assisting you during this difficult time.


Bankruptcy Chapters 7, 11 and 13 Explained

 

Bankruptcy Chapter 7

Get protection from your creditors when you file for bankruptcy.

The first step is filing a bankruptcy petition in court. This document will ask you to list personal information, including all of your income, your assets, your expenses and your debts. You must also indicate applicable exemptions to which you're entitled. Exemptions are laws that prevent your creditors from taking property away from you.

Then you file a petition in your local bankruptcy court. When this occurs, the court appoints a bankruptcy trustee to your case and an "Automatic Stay" is entered, a court order that prohibits most of your creditors from taking any further action against you outside of bankruptcy court. This action is designed to:

  • Stop most calls and bills from creditors
  • Protect much of your property from seizure
  • Prohibit most creditor lawsuits against you
  • Prevent foreclosure of your home
  • Stop wage garnishments
  • Block the repossession of your automobile
You must comply with all of the rules before you receive your discharge.

It is important that you follow all of the rules and refrain from:

  • Attempting to conceal your property
  • Destroying financial records
  • Violating a court order
  • Making enormous, last-minute charges on your credit cards
  • Also note that you can only file for Chapter 7 once in eight years.
Chapter 7's exemptions allow you to protect your property from creditors.

The beauty of Chapter 7 bankruptcy is that certain types of your property are untouchable by creditors. Exemptions vary by state but typically include:

  • Your primary residence
  • Certain items of personal property
  • Tools
  • Work equipment
  • Your vehicle
  • Numerous other categories of property
More often than not, your exemptions will protect all of your assets. If not, your court-appointed trustee will ask to begin liquidation proceedings to pay your creditors. In most cases, however, the trustee will only liquidate if he/she can obtain enough money from a sale to make a significant payment to your creditors. If creditors are paid or a settlement reached, your debts are permanently wiped out.

Bankruptcy can help you eliminate many debts.

If a debt is unsecured-that is, with no collateral backing it up-it typically can be discharged in a Chapter 7 bankruptcy. Some of these include:

  • Credit card debt
  • Medical bills
  • Most personal loans
  • Judgments resulting from car accidents
  • Deficiencies on repossessed vehicles
  • Some older tax debts
  • Payday loans
  • Garnishments
  • Bounced checks
Retain your assets by reaffirming your debts.

You can eliminate unsecured debts in bankruptcy, but secured debts don't go away. Your creditors will hold a lien against your property until the debt is paid.

Do Not Be Fooled

Credit and debt advisors can not remove your debt!

When you file bankruptcy, however, you may be able to negotiate a reaffirmation agreement with your creditors in which you agree to continue making payments in exchange for your right to keep the property. The United States Bankruptcy Code also has provisions that can reduce the outstanding balance on your loans.

A bankruptcy can not eliminate all debt.

Unfortunately, even a bankruptcy cannot eradicate everything you owe. You will still be liable for:

  • Child support
  • Taxes
  • Student loans
In the case of significant non-dischargeable debts, you might consider a Chapter 13 filing. Of course, if you initially file under Chapter 7, but you don't satisfy the requirements, your case can be converted to a Chapter 13, and you will be compelled to file a debt repayment plan and potentially lose the ability to wipe out a large potion of your unsecured debts.

The last step.

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 imposes one last hurdle before you're eligible for your discharge-the financial education requirement. This requires you to complete an instructional course concerning personal financial management.


Bankruptcy Chapter 13

If you are suffering under a mountain of debt and expenses that you just can't keep up with, but you do have a job or some other source of regular income that you can use to make payments under a repayment plan, a Chapter 13 bankruptcy may be right for you. You can use Chapter 13 to liquidate many of your debts, set up a reasonable debt repayment plan, and get a fresh financial start. The following is an overview of the Chapter 13 process.

Your Chapter 13 case begins with filing your petition.

Chapter 13 case begins with the preparation and filing of your bankruptcy petition-which involves some of the same forms you would file in a Chapter 7 case. In your petition, you are required to list certain personal information about yourself, your spouse, and your family, and you must set forth all of your income, your property (assets), your expenses, and all debts (liabilities). Additionally, you must select the specific exemptions to which you are entitled (exemptions are the laws that prevent your creditors from taking your property away from you).

Additionally, as a result of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, before your bankruptcy petition can be filed, you must receive a briefing from an approved credit counseling agency explaining opportunities available for you to receive credit counseling as well as helping you to do a budget analysis. Although there are some hardship exceptions to this rule, most debtors will have to undergo the counseling. However, upon completing/filing your petition you can elect to waive this requirement.

Shortly after you file your petition, the bankruptcy court clerk will send a notice of your bankruptcy case to all of the creditors listed in your petition. After that, your case will be assigned to a bankruptcy trustee, who will review your case. The bankruptcy court will also issue an Automatic Stay order. This order prohibits most of your creditors from collecting their debts from you, from repossessing your car or other property, and from starting or continuing any legal actions against you.

Your repayment plan is the centerpiece of your Chapter 13 petition.

Your repayment plan is an agreement between you and your creditors in which your creditors agree to forgive a portion of your debts to them in exchange for your commitment to repay your reduced debts over time. Most plans require you to make monthly payments to the bankruptcy trustee-a federal official who is appointed by the court to oversee your case-who in turn makes distributions to your creditors. Typically, your repayment plan will last from three to five years. While you are making payments under a repayment plan, the creditors listed in your plan cannot take any collection actions against you, and they are required by law to abide by the terms of your repayment plan.

Before your discharge is approved, you must receive debt counseling services.

Another requirement established Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 is the financial education requirement. This requires you to complete an instructional course concerning personal financial management (this requirement is often waived).

Not all debtors qualify for Chapter 13.

Chapter 13 bankruptcy is not for everyone. You may qualify for a Chapter 13 bankruptcy only if you can satisfy the following three requirements:

You must have a regular source of income. Because you must be able to meet the terms of your repayment plan, the Bankruptcy Code requires that your income be "stable and regular" if you wish to file a Chapter 13.   You must have enough disposable income. The law requires you not only to have a "regular" source of income, but also to have sufficient "disposable income." In other words, you must have income left over after your expenses for basic human needs each month to allow you to make your monthly payments in a timely fashion under your repayment plan. There is no set formula for determining how much income is enough, and the courts are flexible in determining this. Courts will often require you to submit a proposed budget to see if you can satisfy these requirements   Your debts must not be too high. If your secured debts (which include loans you have secured by liens on your property, such as your home and auto loans, and even IRS tax liens) exceed $922,975, you are not eligible for a Chapter 13 bankruptcy. Also, your unsecured debts may not exceed $307,675 (unsecured debts are debts for which you have not pledged any of your property as collateral-such as most credit card debt, personal loans, and utility bills.   If you don't qualify for a Chapter 13 bankruptcy, don't worry; you'll probably be able to qualify for a Chapter 7 .

The benefits of Chapter 13.

Chapter 13 case will be better for you than a Chapter 7 in the following circumstances: You are behind in your payments for property that you want to keep after bankruptcy. For example, if you are late on your mortgage or automobile loan, and you want to get current with these payments and keep your property, you can do this under a Chapter 13 plan.

You have tax debts . It is very difficult to discharge your tax debts in a Chapter 7 plan. Furthermore, even if you are able to discharge some tax debts through Chapter 7, if the IRS has any recorded tax liens against you, these liens will survive your bankruptcy and still be on your record, and the IRS can seize any property you owned at the time you filed bankruptcy. Accordingly, if a large percentage of your debt involves unpaid federal taxes, and you have the ability to repay them over time, a Chapter 13 may be a better alternative for you than a Chapter 7.

If you have nonexempt property you want to keep. If you have a lot of nonexempt property-property which you would have to give up to your creditors were you to file a Chapter 7-Chapter 13 may allow you to keep this property. If you have received a Chapter 7 discharge within the previous six years. You cannot file another Chapter 7 for eight years.

To protect cosigners on your debts. If you had your spouse or parent cosign on an auto or other personal loan for you prior to your bankruptcy, a Chapter 7 won't protect your cosigner, and your creditor could go after your family member for the full amount of your debt. If, instead, you file under Chapter 13, your cosigner will be fully protected from your creditors as long as you make your payments under your repayment plan.

Consolidate your student loans. Although you can't discharge your student loans in a Chapter 7 bankruptcy, you can include them in your Chapter 13 repayment plan and repay them over time.

It's your time to get a fresh start under Chapter 13

A Chapter 13 case will be better for you than a Chapter 7 in the following circumstances: You are behind in your payments for property that you want to keep after bankruptcy. For example, if you are late on your mortgage or automobile loan, and you want to get current with these payments and keep your property, you can do this under a Chapter 13 plan.

You have tax debts . It is very difficult to discharge your tax debts in a Chapter 7 plan. Furthermore, even if you are able to discharge some tax debts through Chapter 7, if the IRS has any recorded tax liens against you, these liens will survive your bankruptcy and still be on your record, and the IRS can seize any property you owned at the time you filed bankruptcy. Accordingly, if a large percentage of your debt involves unpaid federal taxes, and you have the ability to repay them over time, a Chapter 13 may be a better alternative for you than a Chapter 7.  If you have nonexempt property you want to keep. If you have a lot of nonexempt property-property which you would have to give up to your creditors were you to file a Chapter 7-Chapter 13 may allow you to keep this property. If you have received a Chapter 7 discharge within the previous six years. You cannot file another Chapter 7 for eight years.

To protect cosigners on your debts. If you had your spouse or parent cosign on an auto or other personal loan for you prior to your bankruptcy, a Chapter 7 won't protect your cosigner, and your creditor could go after your family member for the full amount of your debt. If, instead, you file under Chapter 13, your cosigner will be fully protected from your creditors as long as you make your payments under your repayment plan.

Consolidate your student loans. Although you can't discharge your student loans in a Chapter 7 bankruptcy, you can include them in your Chapter 13 repayment plan and repay them over time.

LET’S GET STARTED!

 
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