Filing bankruptcy online 101

2007-09-06 09:46:42

( Financial )



Filing for bankruptcy used to be a very tiresome process. But in this age of technology where everything is made easier with the click of a mouse, individuals and corporations filing for bankruptcy can now breathe easier.

Filing bankruptcy online is now possible. This does not mean however that the whole process can be accomplished by just sitting in front of your computer. It simply means that the process of filing for bankruptcy is now made easier with downloadable bankruptcy forms and online software that will help you fill out these forms.

Should I file for bankruptcy?
The first thing you need to ask yourself before anything else is: should I file bankruptcy? Before filing for bankruptcy or filing bankruptcy online, you need to ensure you have explored all other options. Filing bankruptcy online should be a last resort when faced with massive debt problems. Once you have evaluated your situation and are certain bankruptcy is the only way out, you can hire the services of a bankruptcy lawyer or opt to file bankruptcy online.

how to file for bankruptcy
If you are filing for bankruptcy, you probably wouldn’t want to spend huge legal fees on a bankruptcy lawyer. An alternative would be filing bankruptcy online yourself. This works best if you are willing to research bankruptcy laws especially those that apply in your local area. You may also need to secure your local state’s list of exemptions which you will need when filling out bankruptcy forms. Lastly you need to show up at a 341 creditor’s meeting so that all parties involved in your case are informed of the necessary details.

Filing bankruptcy online
Once you are familiar with local bankruptcy laws, you are now ready for filing bankruptcy online. Even with this option, you still need to go to your local bankruptcy court and file your papers. But rather than making time-consuming and expensive visits to a lawyer’s office, you can now use online bankruptcy services to help you in filing for bankruptcy. You have access to several online bankruptcy sites that will help you organize forms which you can then print out and file with the bankruptcy court. Some paralegal sites also allow you to file online petitions.

If you understand all the legal necessities and complete the proper forms, you can go about this whole process with ease. However, if you don’t want to have to deal with all the details, you can always hire the services of professional companies who will accomplish a complete filing for you.


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