March 7, 2010
Filing bankruptcy, Use Online Software to Become Debt Free
If you wish to get out from under all your debt and get a fresh start being debt free, chapter 7 lets you erase your debt while retaining assets. Filers are allowed to keep some cash, jewelry, home furnishings, tools and an automobile. Couples may retain twice the amount of assets as individual filers. If you plan to repay all your debt in the future you need to file for Chapter 13 protection. Referred to most often as debt restructuring, chapter 13 consists of making legal arrangements to pay off outstanding bills through the courts using a monthly payment schedule. Should the repayment schedule not stay current, penalties could be incurred. If you decide to file Chapter 13 you probably need a bankruptcy attorney, because there is a lot involved in dealing with the creditors. If you decide to file chapter 7, on the other hand, it’s easiest to do it yourself using an online bankruptcy service.
With advances in the Internet it’s now easy to use online bankruptcy software and save thousands on filing chapter 7, all without a bankruptcy attorney. When the bankruptcy abuse prevention and consumer protection act of 2005 made a bankruptcy attorney liable for discrepancies found in their client’s insolvency petitions, many attorneys increased their fees or refrain from accepting cases. By not having legal representation doesn’t have to stop you from filing bankruptcy. About 1 million consumers apply for personal debt protection each year, do it yourself and save thousands in legal fees. With the availability of state of the art, user-friendly bankruptcy software, filling out federal bankruptcy forms is relatively simple and it’s perfectly legal.
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