Filing Bankruptcy

Free Bankruptcy Review

If you are considering filing bankruptcy, consider getting a free bankruptcy review or scheduling a free consultation with a local bankruptcy attorney. A review or consultation may help you evaluate whether bankruptcy will benefit your personal situation, including whether you qualify for chapter 7 or 13, what property you would be able to keep, and how bankruptcy would affect your credit. Complete the online bankruptcy form above or call 1-888-632-0598 for a free bankruptcy review today, FREE! Free Local Consultation – Bankruptcy Relief
steff I was extremely pleased with the consultation I received through bankruptcyformprocessing.com. I was really struggling financially and I wasn’t sure which kind of bankruptcy I should file. I filled out the form on the site and I was contacted by a bankruptcy attorney who clearly explained all of my options to me. I was able to make an informed decision and ultimately was able to keep my home. Thank you so much for helping me take the first step to getting my life back.

Jeff

Federal Bankruptcy Law, What does Bankruptcy mean? What is Chapter 13 Bankruptcy?

The Federal government has created the bankruptcy code in order to help consumers and businesses recover from massive debt. The bankruptcy code and new bankruptcy laws allow consumers to file two different types of bankruptcy. Here you will learn more about your bankruptcy options and find online bankruptcy forms. See below to find out what does bankruptcy mean.

Chapter 7 Bankruptcy

Ch 7 is often referred to as liquidation because it essentially wipes out your debts in a bankruptcy discharge, and allows you to keep your essential property through bankruptcy exemptions. In order to file a chapter 7 you must be an individual and pass the bankruptcy means test that will compare your income and expenses to the average of other families that live in your area to verify that you don’t have enough disposable income to pay off your debts.

What is Chapter 13 Bankruptcy

Ch 13 is often referred to as a payment plan because the court will have you create a plan to pay a portion of your income to your creditors. The court will collect this payment each month and distribute it to your debtors. Chapter 13 is also great for stopping foreclosure as you can roll any missed mortgage payments into the payment plan in order to keep your home. See other articles for more info on what is Chapter 13 Bankruptcy.

Bankruptcy Filing Options

There are generally three options for filing bankruptcy: what does bankruptcy mean Bankruptcy Attorney – Filing bankruptcy with a bankruptcy lawyer means you have someone that understand bankruptcy law and will attend your 341 meeting and explain your case to the bankruptcy trustee. Of course your bankruptcy cost is higher with an attorney. Pro Se Bankruptcy – Filing bankruptcy by yourself is called Pro Se. You are responsible for completing the bankruptcy forms, filing them with your local bankruptcy court, and representing yourself at the 341 meeting, using online bankruptcy forms. While filing pro se is a cost saver, it can be intimidating if you are unfamiliar with bankruptcy law, and if you have a lot of property it’s definitely not recommended as you could lose everything. Non-Attorney Bankruptcy Petition Preparer – The bankruptcy code allows an NABPP to prepare your bankruptcy forms for you, and usually for a reasonable amount. However, they cannot represent you in bankruptcy court or advise you what to include on the forms. With the new bankruptcy law it’s been hard to find NABPP’s that are comfortable preparing the new bankruptcy forms. 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.