Bankruptcy process starts when you have filed your bankruptcy papers in the bankruptcy court. But even before that, the preparation of your papers and documents are also as crucial as the bankruptcy process itself.
The bankruptcy forms and documents that you need to prepare are quite many. Taking your own time, sweat and dedication might get things done your way but can be a disadvantage in the end. You can save some money preparing your own papers but I do not suggest that you do it by yourself. Not everyone can learn bankruptcy or have a master’s degree on it in just a short time. You will probably make mistakes or errors in your papers because it might be your first time to file bankruptcy. The risk of making mistakes in your bankruptcy papers is just not worth it. We are talking about your financial future here and if there is a way that can get you out of debts, then it can only be filing bankruptcy.
Chapter 7 bankruptcy documents are sensitive information and should be dealt with care. If you want to do things your own way, then I suggest you get yourself a bankruptcy book and learn. You can even surf online and find some useful websites that provide tips and suggestions about how to file your chapter 7 bankruptcy documents. Other bankruptcy websites include free downloadable PDF bankruptcy forms and online bankruptcy lawyer services. Each site charges fee differently so spent some time to check out each one as you can so that you can choose the right site that suits you.
After your bankruptcy papers are prepared, you need to file it in the bankruptcy court. This will start the bankruptcy process that will hopefully lead to the discharge of your debts, if all things go well. A letter will be sent to your creditors informing them that you have filed for bankruptcy. Then the bankruptcy court will assign a bankruptcy trustee to your case that will review your bankruptcy documents.
The bankruptcy trustee will handle your documents, negotiate your properties for the nonexempt ones and will be the one to question you in the creditors meeting. Depending on the results, the bankruptcy trustee can either ask for more legal requirements, amendments in your bankruptcy documents or the conversion of your bankruptcy to a chapter 13. After completing the requirements and qualification, you can then proceed to the next step. Then the court will issue a discharge of your debts and close your bankruptcy case.
Preparing your papers can get a lot of cash from your pocket. I suggest hiring a petition preparer or a bankruptcy lawyer to help you keep your expenses down. To do this, you will only need to spend on the flat fee for the services you acquire from these professionals. After your papers are properly prepared, you can take it to the court and start filing. For more support on how to file bankruptcy, visit the link below.
Steve Young is the author of The #1 Secret On How To File Bankruptcy. To get your free CD on How to File Bankruptcy Without an Attoney, go to www.onlinebkassist.com