How to File Bankruptcy Yourself?

File for Bankruptcy How to File Bankruptcy Yourself?

How to File Bankruptcy Yourself?

Most people who are deciding on whether or not to file bankruptcy, especially after learning about the fees associated with bankruptcy, often wonder how to file for bankruptcy on their own. Lawyers are quick to discourage this option because bankruptcy laws are very complex. However, there are ways you can go about it.

Today you will learn:

  1. Options for filing for bankruptcy on your own.
  2. What things to consider when filing for bankruptcy?
  3. The things you must learn when bankruptcy is your only option.
  4. How the bankruptcy product from DoNotPay can help you.

What You Should Consider Before Filing a Bankruptcy

There are different solutions to effective debt management. If you are worried about the downside to bankruptcy, how long a bankruptcy can stay on your credit or if bankruptcy is the right decision for you ( for example, do you know what happens in a bankruptcy?), you might consider looking into other debt management plans.

  • Debt consolidation
  • Credit/debt counseling
  • Credit repair methods, such as a 609 letter

Proving Your Case

It is essential that you have together all of the information that could help you prove to the court that a bankruptcy is a necessary opportunity for you. Be sure that before you file, you have everything you need in order, such as the petition, all of the forms, the list that you will need showing specific aspects of your financial situation and the dollar amount associated with it as well as any other proof that may be necessary. Remember, that in certain situations, some creditors may be able to take the stand against you to prove that you should be paying that bill instead of having it wiped off during a bankruptcy.

What Can & Can't Be Wiped off With a Bankruptcy

Most people believe that filing a bankruptcy is an easy fix for their credit and financial obligations. However, it doesn't usually work out that way. There are still things that you will have to pay for even though most of your debt may be wiped off.

CAN BE ERASEDCAN'T BE ERASED
  • Some credit card charges
  • Child support
  • Collection accounts
  • Alimony
  • Medical bills
  • Liens against your property
  • Personal loans
  • Student loans (in most cases)
  • Past utility bills
  • Tax debt (in some cases)
  • Business debts
  • Recent credit card purchases
  • Past due rent
  • Debts incurred from bad behavior (including embezzlement, larceny, personal injury cases, willful and malicious injury cases, etc.)
  • Some tax penalties and unpaid taxes
  • Revolving charge accounts
  • Social security overpayments
  • Veterans assistance loans/overpayments

Learn About Bankruptcy Before Deciding to File

It is very important when you are deciding on whether bankruptcy is right for you to learn about each type of bankruptcy. You do not want to file a Chapter 7 bankruptcy when you should be filing a Chapter 13 bankruptcy. Learning more about the process and how to file a bankruptcy can help you greatly.

  1. What are the court rules?
  2. What is a debt verification letter?
  3. What is the process for the type of bankruptcy you wish to file?
  4. How easy will it be to obtain all the information needed?

Retirement & Annuities

Another thing to find out about prior to filing bankruptcy is to check on your retirement and annuity plans. In some cases, they may be fully protected, but in others, they are not. It is absolutely imperative that you check to find out if your policies qualify for protection or not.

  1. Stocks are usually not protected.
  2. Bonds are usually not protected.
  3. Interest in businesses are usually not protected.
  4. Equity in your vehicles may be protected.

Choosing to File on Your Own

One of the most important things to remember is that you will need to get all of the paperwork in order that is associated with whatever type of bankruptcy you have decided on. But, there are other things that you'll have to make sure that you have in place before filing, such as:

  • ALL of the proper forms
  • Debt statements
  • A list of assets and liabilities
  • Schedule A/B: Property
  • Schedule C: Exemptions
  • Schedule D: Secured Debts
  • Schedule E/F: Unsecured Debts
  • Schedule G: Contracts and Leases
  • Schedule H: Co-debtors
  • Schedule I: Income
  • Schedule J: Expenses
  • … and more

How Can DoNotPay Help?

If you are ready to file for bankruptcy, DoNotPay has a bankruptcy product for you. With its easy-to-use platform, you can become debt-free without stressing over all the complications that come with the process. You could have it completed in 5 easy steps!

Complete These 5 Easy Steps:

  1. Search for "File for Bankruptcy" on DoNotPay.

     

  2. Put together a list of your debts, expenses, and assets. If you need help accessing information like your credit report, DoNotPay can help you get your report.

     

  3. Let DoNotPay walk you through your bankruptcy options and help you determine whether a Chapter 7, Chapter 12, or Chapter 13 bankruptcy is right for you.

     

  4. DoNotPay will then help find the best credit counseling course near you, which you need to complete before filing your bankruptcy forms.

     

  5. Lastly, DoNotPay will gather all of the forms you need (including available fee waivers) and help you locate your nearest bankruptcy court. All you have to do is complete the required forms, prepare your filing fee, and file the application with your local court.

     

How much more simple could it be? You don't have to do it alone. This product helps you get it done fast and easily!

Want your issue solved now?