Free Bankruptcy Software

Free forms for filing bankruptcy are available from many online sources that specialize in assisting consumers who want to file their own legal petitions without the help of an attorney or professional service. Filing for bankruptcy can be one of the most difficult decisions anyone is forced to make during the course of their lifetime. This decision can be forced by a multitude of financial problems both as a result of mismanagement or circumstances beyond a persons control. Using free bankruptcy software can offer a cost effective and simple way to fill out all the forms and adhere to the new laws that have recently been enacted. Attempting a test run at submitting legal forms can also be helpful in making a final determination about whether or not to actually engage in this legal action.

There are two types of petitions that individuals may choose when considering filing for bankruptcy. Chapter 7 and 13 are commonly enacted for personal financial indebtedness while chapter 11 is reserved for business filings. Generally, chapter 11 proceedings can be highly complex since businesses must provide a comprehensive report of all company related financial concerns. For many companies, this can be nightmare without the help of an experienced attorney that is up-to-date on all legal requirements. Individuals may have a greater flexibility in choosing how they will file a petition and how much legal help, if any, they will need. While any financial legal matter is ideally considered with the assistance of professional help, it is certainly possible to successfully submit a petition oneself. Some individuals have found that free forms for filing bankruptcy are available from a variety of online sources that are offered and be easily downloaded.

This makes it easy to get a first hand glimpse into all the necessary information that is required for individual filings for either legal option. There are major differences in chapter 7 and 13 filings which are reflected in forms that are provided within any free bankruptcy software program. Chapter 7 provides for a submission that generally erases most debt from personal financial responsibilities and allows an individual to literally 'walk away' from his or her general indebtedness. While some people have viewed this as a 'fix all' solution to personal financial woes, there are repercussions that follow for years to come. For ten years a persons credit history is damaged by a chapter 7 filing, making it almost impossible to receive any type of loans, credit cards, or payment plans.

Most creditors are very leery of anyone who has this type of judgment against them and will not begin to loosen their requirements until after 10 years of an attempted repaired credit history. People that choose this option must be prepared to pay cash on most things and to live a frill-free lifestyle for years to come. Laws have recently tightened on those who choose to file for personal bankruptcy because of the abuse of this statute as is reflected in current forms within free bankruptcy software programs. Originally, the law was enacted for those who were legitimately overburdened with financial indebtedness due to dramatic circumstances. Over time, abuses have taken place by those who use this method as a fast way out of mismanaged financial expenditures. Statistics show that there are individuals who have not only claimed this option once in a lifetime, but may have resorted to it several times as a tactic to get out of debt without any repayment responsibilities to
creditors.

Irresponsible money management and recurrent submissions for bankruptcy have made lawmakers rethink some of the easy policies that allow for submitting of this legal petition. At this time, anyone who is considering submitting free forms for filing bankruptcy must first receive consumer credit counseling within a six months period before their petition is filed. Those whose petitions are approved must also agree to receive a money management education course at their own expense during the first few months after approval. Lawmakers are attempting to thwart the ease and lack of seriousness with which many irresponsible consumers resort to the 'benefits' of bankruptcies. Of course, there are many who for very legitimate reasons are forced to choose this option for the financial survival of their families. Tragedies such as loss of jobs, catastrophic illnesses, divorce and natural disasters are some reasonable reasons why some individuals must file. "Trust in the Lord, and do good; so shalt thou dwell in the land, and verily thou shalt be fed." (Psalm 37:4)

Those who file are already in financial disaster and may not feel they can afford the professional services of an attorney. In these cases, using tools such as free bankruptcy software can provide a system that offers all forms for both types of legal options as well as the adherence to recent laws within the application. Using free forms for filing bankruptcy will allow an individual to only pay the general court fees for the petition without any additional attorneys fees. With the passage of the new laws, chapter 7 now costs just under $200 to file and chapter 13 approximately $275. If a person is careful to follow a systematized software program, he or she can save money by submitting a personal filing. Always carefully weigh all options before making a final decision as to how to file for bankruptcy.

Bankruptcy Software

Bankruptcy software offered online for purchase includes the ability to file the documents electronically. This software will work for filing Chapter 7, 11, and 13. Some sites offer a free downloadable trial version. Filing bankruptcy online is simple. Some computer program includes live product updates, built in PDF driver, editable federal and state exemptions, and is advertised and designed for use with Microsoft Windows XP/2000/Me/NT/98 and 95. Technical support is included with purchase. Additional features include auto-calculation, network compatibility, and an easy set up wizard. The software should include the new forms needed to conform to the new bankruptcy reform act of 2005.

Unforeseen circumstances can happen to anyone at anytime. Loss of job due to illness or lay off can contribute to financial disaster. The stress associated with debt is burdensome at best. "Come unto me, all ye that labour and are heavy laden, and I will give you rest. Take my yoke upon you, and learn of me; for I am meek and lowly in heart: and ye shall find rest unto your souls. For my yoke is easy, and my burden is light" (Matthew 11:28-30). Christ wants us to take our cares and burdens to him. He will give you peace in the midst of the storm. Pray for direction on what to do. Seek Christian debt counseling and consider options. Do a search on the Internet for bankruptcy information.

Some bankruptcy sites on the Internet offer a questionnaire for filing bankruptcy online. Fill out the questionnaire and complete the documents for filing. Bankruptcy software will complete the forms based on the filer's questionnaire. After completion of the documents, the software will send an email to the filer. Print the email, sign the documents and file with the court. Mail your documents to the court or file them in person. After filing the documents with the court, expect to receive notice of the creditor's meeting about 4 weeks later. It is possible to purchase bankruptcy software and do all this yourself. The difference in using a legal specialist is they will check over the paperwork for accuracy. The costs of using a legal specialist or attorney will be more expensive than just purchasing the computer program.

Bankruptcy software should include information about any Bankruptcy Reform Acts. Filing on the Internet should include changes in the forms and schedules that are affected by the new Act. This new Act provides stricter guidelines in order to file Chapter 7. Creditors are entitled to proof that the debtor has sought counsel from a consumer credit counseling agency at least six months before filing Chapter 7. Debtors are also required to take a class on debt management techniques before receiving discharge. Provisions in the new Act include the ability by the court to deny a case or convert a Chapter 7 to a Chapter 13. Sanctions may be imposed on attorneys and debtors for filing a Chapter 7 when a Chapter 13 should have been filed.

Filing bankruptcy online makes it convenient and costs less than using an attorney. However, filing is a very serious matter and should be treated so. Using a free trial version would give the debtor an opportunity to try the computer program before purchasing it. After working on the documents for filing, one might realize that there are some very important questions that need to be answered by an attorney or legal specialist. There are specialists on the Internet that offer services that include checking documents before filing. Compare the costs of using these sites over an attorney. Do some research on these companies and make sure they are reputable. What kind of guarantees do they offer on their services? The Internet has brought many conveniences to the consumer by providing services to the convenience of the home computer. With the capabilities of conducting business online comes choices that we haven't had available before. As consumers, we need to be aware of our choices and consider all variables when making a decision to use the Internet for business. Legal issues can have serious consequences for those who don't understand the current laws. Consider carefully before using bankruptcy software and filing bankruptcy online over using an attorney. It might be wise to obtain legal advice before purchasing programs.

One simple question to ask before purchasing a computer program and filing online is: Should I file in the first place? Am I facing foreclosure on my home, receiving harassing phone calls and letters in the mail from creditors, in danger of losing my car, and/or months behind on other credit obligations? If the answer is yes to any of these, it might be wise to seek some legal advice and consider filing. However, take the time to see if any other options are available. Bankruptcy is always a last resort.





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