Online Bankruptcy Filing - Is It Still Possible?

By Lisa Michelle Jones

To begin with not all online bankruptcy service companies are created equal. The term buyer beware really applies here. When something involves any kind of transaction that takes place strictly on the Internet one should really do their homework and know what they are getting into. So when someone has decided to file bankruptcy online they must first research and choose a reputable online bankruptcy service that has good reviews. Checking with consumer protection agencies such as The BBB or any of the many online business review sites is extremely important when searching for a reliable online bankruptcy service.

There is a range of what many of these online services offer as well. For instance, there are some online bankruptcy services that, after paying a small fee, will allow you to download the bankruptcy forms in PDF format so that you can print them out from your own home printer. You then fill out the forms and sign them then take them to the local bankruptcy courthouse for filing. Online services such as these offer no assistance in filling out the bankruptcy forms. The other issue is that anyone can simply go to their state bankruptcy court website and download these same bankruptcy forms absolutely free of cost. If a debtor has a simple straightforward bankruptcy case and is confident filling out the forms on their own with no assistance or by doing a little research on the Internet to help with the petition, then it would make sense to download the forms for free from the state bankruptcy court website.

Some of the better bankruptcy filing services offer software that inputs all of the information that the debtor has supplied to them on the computer forms and fills it out automatically into the proper areas on the bankruptcy petition. This reduces the chances that the petition will be incorrectly filled out and gives the debtor peace of mind. Some services may even include a review of the forms by a bankruptcy attorney to ensure that everything is complete and correct, for an extra fee of course. Many people may want to pay a little extra for this added insurance to know that the bankruptcy petition will not be rejected by the court. Using an online bankruptcy filing service can save a lot of time and money for an individual that is already financially strapped, but again, buyer beware as there are many scams and unscrupulous businesses out there and it cannot be stressed enough that one must carefully research any service that they are considering using.

With the growth of the Internet as well as huge advances in software, filing bankruptcy online has become fast, convenient, and inexpensive. Years ago the only option was to hire a bankruptcy attorney which can be pricey. People that could not afford to do this delayed filing because they were too broke to file bankruptcy. Unfortunately this can have devastating consequences as people lost assets and property that they may have been able to retain if they could have filed for bankruptcy protection. Now people have the choice as to hire a bankruptcy attorney or not. Either way they will end up on the road to financial freedom.

The author is a professional that formed FilingBankruptcyPros.Com which provides information for debtors who want to file bankruptcy under Chapter 7 and Chapter 13 bankruptcy and helps individuals stop foreclosure and eliminate their debt by putting them in touch with a local bankruptcy lawyer.

Difference Between Chapter 7 Bankruptcy VS Debt Settlement

By Samantha Seiffert

For people with high debt amounts and low monthly incomes, they only have two options in terms of debt relief. One of them is bankruptcy and the other is debt settlement. There are specific instances wherein the two can be chosen to relieve a debtor of their debts. It all boils down to what you are willing to sacrifice.

The key to choosing the right debt relief option is to know the pros and cons of each. You need to know what type of program will suit the financial situation and capabilities of the debtor. Let us discuss each option so you can make smart choices for your debt solution. The goal is not just to get rid of debt but to make sure that you stay that way. Debt elimination is one thing - freedom from debt is another. Aim for the latter so you enjoy the fruits of your debt relief efforts.

Bankruptcy is a dreaded word but sometimes, it is a necessary path to achieve debt freedom. However, you need to know the right chapter to file for to protect your properties and other assets. Some bankruptcy chapters can do this - like Chapter 13. However, that will require a form of repayment scheme - which is similar to debt settlement without the grave credit score effect of course.

This is why most people are aiming for a Chapter 7 bankruptcy. This form of debt relief discharges most unsecured debts like those acquired from credit cards, payday loans, medical bills and other personal loans. Debtors are now asked to take a means test that will analyze their financial situation to determine whether they are qualified to file a Chapter 7. The whole process begins with the submission of documents and several paperworks that will help define all your debts. A bankruptcy lawyer will help you with this. Debtors are not required to appear in court but they are required to submit documents in time. All wage garnishments and collection efforts will cease while you are in court.

The thing with a chapter 7 bankruptcy is it may endanger your property from being liquidated to pay off your debts. If you really cannot afford a repayment plan, this is a possible scenario that the courts may rule against you. Also, when you have filed for bankruptcy, you are not allowed to file again (at least for a certain period of time).

While this option is faster and can keep collectors away, the damages incurred by your credit score is sometimes not worth it. This is why debt settlement is the fast rising option preferred by most debtors. The idea is to lower your debts into a certain percentage of your outstanding balance. When you have paid for the agreed percentage of your debts, the rest will be forgiven. Unlike bankruptcy, this will not stop collectors from calling but if you hired a professional debt negotiator, they can take the calls on your behalf.

The thing about debt settlement is it can only work on certain debts like credit cards and other unsecured debts. If you will hire a professional to negotiate for you, this will come with a service fee - although that should be charged once there is proof of a successful settlement.

Unlike bankruptcy, debt settlement has no guarantee. That is why you need to put your trust in a debt settlement company that is reliable and trustworthy. The key is to educate yourself so you can select the right company to trust and you can monitor the whole process even while in the sidelines.

Click Here to compare the top debt solutions - debt management, debt consolidation loans, debt settlement and bankruptcy for debt relief. Talk with National Debt Relief today free with no obligation and find the best solution for your debt.

Buried in Debt? Filing Bankruptcy? In All Things Still Be Thankful

By Bob P Jones

When you are buried under a mountain of debt and having creditors constantly calling and you are now considering filing bankruptcy to get them off your back, it's pretty hard to be thankful during this holiday season. The Bible speaks strongly about giving thanks even during the tough times. In Philippians 4:6 it says, "be anxious for nothing, but in everything by prayer and supplication with thanksgiving let your requests be known to God." Just because you're buried under a mound of debt and filing bankruptcy doesn't mean you don't have anything to be thankful for. If you live in the US and are free, you're better off than about 90% of the world. Living in America we take so much for granted and the Thanksgiving holiday gives us time to reflect on truly what is important. We get to sit down with our families and gorge ourselves with good food and company. We really don't realize how blessed this great nation is.

The younger generations of Americans have joined the entitled class that believes they are owed everything and get bitter when someone has more than they do. Now, everyone wants to live like a rock star but since they don't have enough money, they will have to charge it. The generation that grew up following World War II saved for everything they bought and prided themselves on being debt-free. Back in the 1960s, people used layaway plans for large purchases or just saved up until they could afford it. This applied to automobiles, vacations and household appliances including a television. Credit was not an option if you couldn't pay for it you couldn't afford it. When the 1970s rolled around, revolving charge accounts became the new hot item. If you wanted to buy a stereo or television, you would open up an account with electronics or a department store and apply for credit to make your large purchase. No longer did you have to save up and wait to buy the latest item, you could charge it. This got compounded with credit cards and technology. You could have one card that would work in just about every store and restaurant. Americans started getting in debt and this is where the number of people filing for bankruptcy went on the rise.

In 2007, the younger generation saw firsthand what happens when you spend more than you can afford to pay. The country saw large numbers of Americans losing their homes to foreclosure and filing bankruptcy. Although the numbers have decreased since the record high of 2010, in 2012, it is expected to finish the year out at close to 1.3 million filing for bankruptcy. Although this sounds dismal, we need to be thankful that this great nation gives it's citizens an opportunity to wipe out their debt and get a second chance with bankruptcy filing. For the naysayers that still believe that filing bankruptcy is bad, the Bible is the basis for the current bankruptcy code. In the Bible it talks about forgiveness of debts and the sabbatical year. Deuteronomy 15:1-2 "At the end of every seven years you shall grant a release. And this is the manner of the release: Every creditor shall release what he is lent to his neighbor. He shall not require it of his neighbor or his brother, because the Lord's release has been proclaimed."

Even if someone is filing for bankruptcy, it is not the end of the world and after a short season this will look like a lesson learned in the past. Sometimes it's hard to understand the difficulties we go through in life but we should still thank God and rejoice in these times. Romans 5:3 says it all, "more than that, we rejoice in our sufferings, knowing that suffering produces endurance, and endurance produces character, and character produces hope."

The author started DebtFreeBankruptcyAttorney.Com which is a website that helps individuals with debt problems by putting them in touch with a local bankruptcy attorney that specializes in filing bankruptcy under Chapter 7 and Chapter 13 bankruptcy. Check our website for more answers to bankruptcy questions and ideas on how to have a debt free future.

Confused By Bankruptcy? These Tips Can Help!

By William Born K

Many negative emotions are related to filing bankruptcy. People going through bankruptcy worry about living in debt while trying to survive. As the following article explains, options do exist for those facing financial difficulty.

Protect your house. It isn't inevitable that you will lose your house when you file for bankruptcy. You could keep your home; it depends on your home's value or if a second mortgage is on your home. Otherwise, try looking into house exemptions that may let you remain in the home if you meet certain financial threshold requirements.

Make sure all your debts are included in the discharge so you can avoid filing unnecessarily. Certain debts, including student loans, may remain with you regardless of your bankruptcy filing. You may want to consider consulting a loan consolidation service or credit repair agency instead of filing for bankruptcy.

Rest assured, when you file for Chapter 13 bankruptcy, you still have the ability to take out mortgage and car loans. It is just tougher. You will need to secure the trustee's approval for any new debt obligation. You need to show them why and how you can handle paying back the new loan. Also, be sure you have a clear explanation as to why the item you are purchasing is absolutely necessary.

Every single piece of financial information you have needs to be studied and properly listed when filing a bankruptcy claim. You can delay your bankruptcy process if you do not add in all important information. Even small amounts of money contribute to your overall financial picture, so do not exclude them. This might take the form of odd jobs, extra cars and outstanding personal loans.

If the process of filing for personal bankruptcy has become overwhelming to you, you may find supportive listeners in the form of online Internet chat rooms for people undergoing bankruptcy. Being in a bankruptcy situation is extremely stressful, and it can make you feel isolated, even in the company of friends. The beauty of the Internet is that you can speak anonymously with those who share your feelings about filing and the repercussions.

Before picking a bankruptcy lawyer, speak with more than one, since most offer a consultation for free. Make sure you meet with a licensed attorney rather than a paralegal or assistant, because it is illegal for these people to give legal advice. It will be important to work with a bankruptcy lawyer that you feel comfortable with; a little comparison shopping will help you find the right one.

If you have fears that you will lose your car, ask your lawyer about the possibility of lowering your car payments. Filing for Chapter 7 can help to lower your monthly payments on possessions such as your vehicle, helping to ease your financial load. It is necessary for you to have bought your car prior to the 910 days preceding your filing, your loan must carry a high rate of interest and you must be employed in order to get such a modification, however.

With any luck, this piece has shown you that financial roadblocks are not necessarily the end of the world. At first it can be difficult, but personal bankruptcy can be overcome. Put the information you have found in this article to use so that you can have a very successful bankruptcy.

William Born K is a professional writer for Bankruptcy Lawyer. This site provides Bankruptcy Attorney information for debtors considering filing bankruptcy under Chapter 7 and Chapter 13 bankruptcy and helps individuals stop foreclosure and eliminate their debt by putting them in touch with a local bankruptcy lawyer and also provides financial loans. For more information and to get a free bankruptcy evaluation from an experienced professional in your area, please visit our web site at http://www.bankruptcy24hour.com

US Financial Collapse in 2013

By John Forecast

What do economist Max Keiser and investor Peter Schiff have in common besides keeping a keen eye on the US economy? Both predicted a possible US financial collapse by the year 2013 which will last for several years in the future. At this day and age when everything is a financial struggle there is somehow a huge probability that this impending financial collapse could happen. Both want us to notice the signs all around us. The two financial experts want each of us to prepare and to take this short amount of time to check how far we all are in preparing for our personal and family's future.

Max Keiser is also a television show host and has been studying and reporting on local and international economy. He has made predictions regarding the downfall of the country's economic system through the use of several mathematical laws. Even the Congressional Budget Office cited his prediction in August 2012 as Keiser described a sort of "fiscal tightening". He explained in August that the possible collapse could happen anytime between August to April. To a regular guy, Keiser is talking all mumbo jumbo but he said that he simply looks at the local and global economy as a systems analyst would look at any problem; it's clear that the US is headed for a huge upset and everyone should pay heed.

Peter Schiff on the other hand is predicting a US dollar and bond crises that will happen over the next two years. He is quick to blame the movement of bond markets where the current trend is excessively low. He describes the upcoming collapse to surpass the 2008-2009 financial crises. Schiff who also runs Euro Pacific Capital, further mentions that recent behavior or the bond market is already supporting his claims; he expects a terrible crash over the next two to three years due to bond market difficulties and US dollar depreciation. This situation worsens as the government's debt increases. Schiff ends his predictions with a simple advice and that is to start investing as soon as you can.

It's just days before 2013 and how far are we really into preparing for this impending financial collapse? Have we considered investing? How far you in your mortgage payments? Have you saved for your son's college? How secure is your current job? Next year could be a frightening year for all of us if this financial collapse should happen. And as Keiser mentions in one of his shows: "There is no avoiding the collapse. There is no remedy for the collapse."

The future looks grim with civil unrest and possible civil war looming in the horizon. Federal laws to deploy military troops in the case of an economic collapse will be enacted with the devastated economy looking very hard to resuscitate. Understanding the possible root cause of the problem is Shiff's advice; learning all about the cause of previous economic collapses will help us understand the "big one" that is about to come very soon.

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Compare Chapter 13 Bankruptcy VS Debt Settlement

By Samantha Seiffert

All debt relief options are effective and will get consumers out of debt. However, you need to understand that each option requires a certain financial position and attitude to make it successful. Two of the most compared options are debt settlement and bankruptcy. With the emergence of the Chapter 13 addition to this law, the comparison becomes all the more similar.

To give you a bit of background, private consumers who are riddled in debt have two options when declaring themselves bankrupt. The traditional is Chapter 7 wherein most debts are discharged after eligible properties and assets are liquidated. After the crash of the economy, a lot of people took advantage of this and filed for bankruptcy to escape their mounting debts - on top of which are credit card debts. Chapter 13 prevented this abuse from happening. The emergence of the means test separated those who are really unable to pay off their credit obligations from those who earn the state median income and above. In a Chapter 13 filing, the debtor is given a repayment plan that they have to follow. Unlike Chapter 7, properties and assets are protected from liquidation - as long as the debtor can stay true to the repayment plan imposed by the bankruptcy court. Once the plan is over, the debt closed completely.

This repayment plan is a reduced amount based on the calculations of the court. This is exactly what makes it similar to a debt settlement plan. The whole purpose of the latter is to negotiate with the creditors for a lower payment plan for the debtor. The idea is to get into an agreement that the debtor only has to pay for a percentage of the outstanding balance. Once this is accomplished, the debt is forgiven and wiped off.

You can see how the two are similar. However, there are significant differences as well.

For one, the credit damage in Chapter 13 is much more than the other. The taint of bankruptcy will haunt your credit history for 10 years. When you have a successful settlement, a record of a debt "paid by settlement" will stay in your record for 7 years but you can gain credit worthiness in 2 years time.

In bankruptcy, your records will be made available to the public - meaning, people will have access to records stating that you have once filed for bankruptcy. Settling your debts will remain a private matter - apart from the "settled" note in paid off debts of course.

Both of them can give you an average of 30% - 50% repayment/settlement plan but in bankruptcy, this is more guaranteed. In debt settlement, the creditor stays in control of how much the final settlement will be. You do have the option to agree to it or not though. In the other option, once the courts decide, there is nothing you or the creditor can do about it. The amount that you will pay will also be fixed - depending on what the court orders. Settlement monthly payments may vary depending on what you can afford to shell out - at least while you are in the process of building your funds and you are still negotiating with the creditor or collector.

The creditor also cannot take legal action against those in the process of Chapter 13 and neither will they be able to come after the debtor once their debts have been discharged. In debt settlement, the same is true but only if you reach a successful agreement. The creditor has every right to file a lawsuit anytime throughout the process.

Debt settlement costs are double that of bankruptcy because it is a certain percentage of the debt that you enrolled in the program. That is usually $3,000 to $5,000 worth of service fees. It will be higher if you have more debts. In Chapter 13, the average is between $1,500 and $3,000 - depending on what state you filed your petition.

With the recent amendments, the Chapter 13 repayment plan could come out longer since the maximum time frame was extended to 5 years. In debt settlement, the average payment term is usually between 2-4 years.

Both of these debt relief options can effectively get you out of your tight financial situation. The question lies in what sacrifices you are willing to make to achieve financial freedom.

Click Here to find the best solution to your debt problems. As a leading debt management company, National Debt Relief has helped over 100,000 consumers with credit card relief.

Tips To Consider If You Are Thinking About Filing For Bankruptcy

By William Born K

As you probably know, the economy is in the toilet. When the economy is bad, people lose their jobs and that means debt begins to pile up. Debts can often lead to bankruptcy, an outcome nobody ever wants. If you are dealing with the possibility of filing for bankruptcy, then continue on to the article below for some helpful tips.

Being with the people who you love should be still be a top priority. Going through a bankruptcy can be an excruciating experience. It is extremely stressful and long, and it can leave you feeling ashamed of yourself. Lots of people think they need to hide from everyone until this is all done. Do not isolate yourself or you will put yourself at risk for depression. Time spent with people who care about you can give you new perspective on your financial situation.

Write down everything that you owe. This will be your basis in filing for bankruptcy, so see to it that you write down all of the debts you're aware of. Double check all of your records so that you do not overlook anything. Any inaccuracies or discrepancies can lead to a dismissal of your petition.

Paying your bills in a timely manner can help you avoid late fees, penalties, high interest rates and the need to file for bankruptcy. It is common for people to pay only minimum amounts, though that can be a recipe for future debt trouble.

Seeking out additional employment can be a way to handle your debts. You may be able to avoid bankruptcy by negotiating with your creditors in order to find a workable plan for paying off your debt. Most will accede to your wishes and prevent the filing of bankruptcy.

Once you have filed for bankruptcy, it is important to be cautious about incurring new debt. There are lenders who offer credit cards and loans under the premise that they are designed to help people rebuild credit following bankruptcy. They will probably carry high interest rates and fees. So, read the fine print, carefully. If you are not able to control yourself, you will end up back at square one.

Although it may be difficult to get financing after filing for bankruptcy, it will not be impossible by any means. While that is kind of true, your score might be superior to the credit score you had before you filed. From here on out you have to be truly responsible and pay all of your bills on time.

You should acquire a bankruptcy lawyer when filing for bankruptcy. A reputable lawyer can explain the bankruptcy process and be your representative in court on your behalf. Your lawyer could also help you with filling out paperwork and can also teach you how to answer questions.

Even as the economy begins to recover, many people are still in difficult financial straits. If you are unemployed, or lack a regular income, you can still take steps to avoid having to file for bankruptcy. Hopefully, after reading this article, you picked up on a few of the things that will help you avoid filing for bankruptcy. Good luck to you.

Bankruptcy: Tips To Get Through It Painlessly!

By William Born K

The decision to file for bankruptcy is very serious and should not be taken lightly. Digest the information contained herein, so that you are aware of what you can expect and you know what actions to take prior to making that critical decision. Become as educated as possible.

Brush up on the latest bankruptcy regulations before you decide whether or not to file. These laws change regularly and you should stay up-to-date so you can make the best decisions. All of these changes will be addressed on the state's legislative site. You can also contact them directly by phone or office visit.

Hire a lawyer if you plan on filing for bankruptcy. With all the ins and outs of bankruptcies, it can be hard to grasp all the knowledge. Your lawyer will make sure that the filings are correct and help you navigate the complex process of filing for bankruptcy.

Make sure you monitor the activities of your lawyer while your bankruptcy case is pending. You should be aware of what is going on and not be afraid to pick-up the phone and ask. Law offices that are busy are known to make occasional errors. No matter what you hear, lawyers are just as human as you.

See if there is an alternative you can use before declaring bankruptcy. If your debts are really not overwhelming, you may find the assistance you need by consulting a consumer credit counselor. It is sometimes possible to negotiate smaller payment by yourself. If you do this, make sure you save a written record of debt modifications that are negotiated.

You should obtain a copy of your credit report from all three reporting agencies soon after you declare bankruptcy. Be sure to check your credit report for accuracy of closed accounts and discharged debts. Contact the credit reporting agencies if there is a discrepancy in order to rebuild your credit.

The calls from creditors can be overwhelming and create anxiety. When you file for bankruptcy, that will all cease. You cannot avoid emotional stress when dealing with a deluge of debt. Bankruptcy protection can give you room to breathe while you figure things out.

You should avoid paying your taxes with credit cards and then immediately file for bankruptcy. In many parts of the country, you cannot get this debt discharged, and in the end you will be left owing the IRS a big sum of money. If the tax can be discharged, so can the debt. So using your credit card to pay off your tax obligations, then filing for bankruptcy, can actually hurt you instead of help you.

When filing for bankruptcy, list all of your financial information. Failing to list these could cause the dismissal or delay of your bankruptcy petition. Make sure that you add very small sums, even if you believe that they aren't important. Don't forget about side jobs, loans you've taken out or vehicles that might count as assets.

As you can see from the above article, bankruptcy doesn't just happen. There are quite a few things you you need to do and do correctly. By taking what you have learned here and applying it, the process of bankruptcy will be much smoother.