Ways to easily file for bankruptcy online
Have you fumbled with keeping a tally on expenses such as credit cards and loans? Do the bills overrule your monthly income? A financial crisis can hit you at any time, especially if there are multiple draws on your income and sometimes, filing for bankruptcy is your only option. Find out more on how you can start afresh with your finances and claim bankruptcy online with these options.
Law Firms
All law firms are required to file bankruptcy forms and other mandatory documents online. Once you approach the lawyers, they will generally provide a questionnaire that can be completed at home.
The Electronic Representation of Self in Courts
Electronic Self-Representation (eSR) software is a free online tool that allows you to prepare and submit only chapter 7 bankruptcy forms online without the help of an attorney. So far, the eSr software has been implemented only by the Central District of California Bankruptcy Court in Los Angeles and the Western District of Missouri Bankruptcy Court.
Bankruptcy Petition Preparers
A petition preparer is an individual that is not an attorney or an employee supervised by an attorney. They prepare a bankruptcy petition for you and charge a fee for the same. This document is then passed on for filing by the debtor in the United States Bankruptcy Court.
Upsolve
This is a digital legal aid nonprofit designed for people who cannot afford a bankruptcy lawyer. It is for those users who come under the low-income category, own no real estate, and want to file bankruptcy online under Chapter 7.
Talking about the Chapters in filing online bankruptcy, there are two types you should know about:
- Chapter 13 bankruptcy is where your debts are not cleared. Instead, you are placed on a repayment plan that lasts anywhere between 3-5 years. This is an advantage since your assets are protected.
- On the other hand, Chapter 7 bankruptcy is where you can request the bankruptcy court to wipe out your debts by selling off non-essential property. This includes anything that you do not need to get by such as jewelry, your second car, fur coat, and a jacuzzi, among others. The money gotten from the sales is given to the creditors. This is the most common form of bankruptcy preferred by individuals.
