File Bankruptcy Online And Relieve Some Of The Costs
The mere mention of the word bankruptcy strikes fear into the hearts and minds of all those involved; and for good reason. Deciding to file for bankruptcy protection is a decision that should not be entered into lightly; esp. due to its long-term ramifications, both financial and emotional. So, before you decide to enter into the bankruptcy process (either chapter 13, 11, or 7 etc.), your first decision should always be to mull over alternative actions such as: Simply deciding to tackle the bills through free credit counseling, or debt consolidation. Because after all, once you've filed for bankruptcy online, it's difficult to reverse the process. Once you've thought over the alternative options to bankruptcy, you will have many decisions and tasks to make and complete; first of which is the means test. The means test is a group of questions mandated by the Internal Revenue Service (I.R.S.) designed to assist individuals in deciding what chapter of bankruptcy best fits (if any) their situation. In short, the means test was implemented by the I.R.S. to eliminate excess abuse of the bankruptcy protection. The bottom line is this: If you do not pass the series of financial calculations posed in the means test, you will not be able to file for bankruptcy protection. Although some people believe there are few to no costs involved when filing for court-protected bankruptcy, the fact is there are; such as: Filing fees (around $300.00), form fees, and of course, legal fees. So bankruptcy is by no means a free ride. There are ways, however, to lower your costs once you've decided that bankruptcy is the path you want to follow. You can file bankruptcy online, for example, by ordering and filling out the necessary forms. But keep in mind that the actual filing cannot be done online. You will still have to file all paperwork at the local bankruptcy court. Other ways on how to file bankruptcy online are the options you have with regard to online filing software as well as online legal and paralegal assistance in filling out your forms. So you can save valuable dollars by performing a few necessary tasks online. Even by choosing to file bankruptcy online, you would be highly advised to research as much as possible about your role in your upcoming bankruptcy proceedings. You will still have to attend your 341 creditor meeting, and you will be better suited throughout the entire process by hiring a competent and seasoned bankruptcy attorney. In closing, don't go into bankruptcy lightly, because if you do, the results you may encounter may not be your most-beneficial. |
