There are 4 Steps to Filing Under the New Laws
- Qualifying to file bankruptcy
- Preparing the tons of bankruptcy forms
- Taking the mandatory Credit Counseling class
- Filing, attending the creditor meeting, taking the short budget class
The Bankruptcy Means Test - Do You Qualify?
Under the old bankruptcy law, just about everybody qualified. There wasn't even the concept of qualifying to file since the mere fact that you wanted to file meant that you needed help. You probably heard of big name entertainers filing bankruptcy and still managing to keep their mansions.
Under the new bankruptcy laws, there is now what is known as a means test. If you pass the test, you qualify to have your bills wiped out but if you do not pass, then it would be up to a judge to decide.
The chapter 7 bankruptcy means test is not an exam that you go somewhere to take. Instead it is a 7 page document with about 85 questions and calculations that you answer and perform.
The answers to these questions requires the brain power of a computer since it relies not just on statistical information under your control but requires access to complex data compiled by no less than the IRS, the Census Bureau, the Department of Health and Human Services and more.
If you were to do it by yourself, just finding out if you qualify to file bankruptcy could take you weeks of frustrating nail biting agony.
The means test is indeed the silver bullet that the credit card companies intended to use to kill bankruptcies when they wrote the law.
Fortunately for you, the means test is only a paper tiger. It may look fearsome but the truth is that all of our customers pass it.
When you hire us, we pass the information that you give us through our means test crusher utility interactively. Our MT utility pulls everything together from every applicable government database and does all the number crushing to qualify you.
It is interactive so that if a number you give us is out of whack, you can change it as often as you like until the MT utility passes you.
Computer power aside, all of our customers pass the means test because the means test law is full of second chances and allowed loopholes, and we find and apply every single one of them to your benefit.
If any attorney has told you that you do not pass, it could very well be that he or she is either inexperienced or does not want to be bothered with your case.
It is said that if you need to file bankruptcy and cannot pass the means test, it is because you can pay your bills or deliberately do not want to pass it.
Our online questionnaire was extremely easy to fill out under the old bankruptcy law and under the new law, in spite of the means test, it is even easier.
The Bankruptcy Documents
The new bankruptcy law may be a paper tiger but it has created a mountain of horrendous paperwork. Before you begin to panic, that is our bad news, not yours.
For one, the man-hours needed to put together the 7 page means test bankruptcy form can be compared to that need to preparer two or three complete bankruptcies under the old laws.
On top of that, the new law has caused a typical document set to balloon from about 23 to 35 pages under the old law to about 50 to 75 pages under the new.
In the past, a lot of people hacked away at their own bankruptcy filing inch by inch, week after week, until it was done, but with the new laws, that is a thing of the past. Now you must have your bankruptcy forms prepared professionally by a full-service company.
Because of the burdens of the new bankruptcy law, many bankruptcy attorneys have doubled their prices just to make it worth their while.
In a long distance conversation the other day, one of the lowest priced bankruptcy attorneys in Austin confirmed that they had raised their price from $595 to $1595 because of the paperwork.
None of this need bother you because we take all the responsibility of preparing the paperwork on ourselves.
You fill out our 20 minute online questionnaire and we get all of the mountains of bankruptcy forms done so that all you do is sign your name and file.
The Credit Counseling Class
The new bankruptcy law requires that you take a 90 minute Credit Counseling class before filing your bankruptcy, unless there is an urgent matter that makes it necessary for you to file first before taking the class.
Why do we list the Credit Counseling third instead of first? The class is a perfunctory, not determinative. You cannot fail it since there is no test to take. You just have to listen for an hour and a half as the credit card companies try to talk you out of bankruptcy, using their surrogates, the credit counselors.
It is best to have your documents prepared and ready to file before taking the class because this way, you will know that you qualify before you sit through the class.
Why is there a class in the first place? The credit card companies wrote it into the law so that they can use it as an opportunity to divert you into paying back what you owe instead of bankruptcy filing.
Do you need to take the class before filing? Not necessarily. The law allows you to file first and then take the class later if you have an urgent situation and need to file quickly.
You can find a list of classes from the government site at Approved Credit Counselors
Do not let the credit Credit Counseling stop you from taking the bankruptcy means test or from having us prepare your bankruptcy forms.
Remember, they want to talk you out of filing bankruptcy.
Take the class after your bankruptcy forms have been prepared and if you have an emergency, file first and take the class later.
Filing, Creditor Meeting and Consumer Education
After we have prepared your bankruptcy forms, you need to file them with the bankruptcy court. It is as simple as turning in the documents that we give you and paying the court filing fee. If you are low income, you do not have to pay the court fee. After ordering, let us know and we will include the paperwork for waiving the court fees.
About a month after filing, you will need to attend the mandatory creditor meeting. This is the easiest part of the process since it lasts only about 30 to 60 seconds and since there are usually no creditors there. It is just a mere formality.
The new bankruptcy law requires you to attend another 90 minute class after filing bankruptcy, this one being the debtor education class. You have several months after filing your bankruptcy to take the class. This class is to educate you on how to handle your affairs so that you do not find yourself bankrupt again.
The bankruptcy court will send you a discharge notice about five months after filing, stating that your debts have been wiped. You do not wait for that notice before enjoying your newfound freedom. Your bankruptcy filing goes into effect the moment you file, not when you get the discharge notice.
That is all there is to the entire process. To summarize, the new law introduces the two 90 minute classes and the means test and nothing more.
If you hire us, you will find it to be nothing more than a paper tiger.
In the old days,
It used to be that when you said that you would do something for another person, you were honor bound to keep your word and a simple handshake was all you need to get started.
Yes, a handshake and your word of honor.
These days, everything is doubletalk. When a video rental company says that they have gotten rid of late fees, they have simply renamed the late fee, like say, delayed restocking fee.
When a bank says free checking, they do not mean free use of their ATM or free money orders, or an end to 30 dollar return check charges. When a home purchase company promises you no-cost dollars, they hit you with a setup fee, and a host of other meaningless fees.
And if you think you have asked all the right questions and have gotten the bottom-line, you will find out too late that there is something extra you are being charged for that you didn't think to ask the sales person.
If you are about to file for bankruptcy, you are probably a nervous wreck and you do not need another thing to worry about. You are frazzled enough and you deserve a break. You need our word of honor and you need it straight up.
That is why we will not wow you with flashing neon lights or animated graphics dancing back and forth on our site.
If you have not already done so, you can visit the popular
Online Bankruptcy Reviews
site to compare us to the other bankruptcy sites.
Here is our WORD and HANDSHAKE
This is a list of what we will do for you and it is way more than is needed for a successful bankruptcy.
If it is on this list, you have our word of honor that we will do it.
We have left nothing out, but if you came up with something that is not on the list, we will work harder than anyone else to do it.
Handshake No. 1 - The Documents
We will prepare all of the official Federal bankruptcy forms required by the courts for a chapter 7 bankruptcy. It takes about 65 pages of court forms covering just about everything there is to know about your bills.
These are not templates or forms but completed documents that are ready for the court. All you do is sign your name and turn them in to the court clerk.
The documents include all of the schedules from A to J, and the various mandatory statements.
To summarize, they are:
- Voluntary Petition
- Summary of Schedules
- Schedule A - Real Property
- Schedule B - Personal Property
- Schedule C - Property Claimed As Exempt
- Schedule D - Creditors Holding Secured Claims
- Schedule E - Creditors Holding Unsecured Priority Claims
- Schedule F - Creditors Holding Unsecured Nonpriority Claims
- Schedule G - Executory Contracts and Unexpired Leases
- Schedule H
- Schedule I - Current Income of Individual(s)
- Schedule J- Current Expenditures of Individual(s)
- Declaration Concerning Schedules
- Statement of Affairs
- Means Test Calculations and Documents
- Chapter 7 Individual Statement of Intention
- Statement of Social Security Number
- Creditor Mailing Matrix
- Creditor List Formatted for electronic delivery
- Court Fee Waiver
We also provide on a discretionary and complimentary basis, various other helpful bankruptcy forms not required by the official bankruptcy rules.
Note: We prepare both Chapter 7 and Chapter 13 bankruptcies.
Handshake No. 2 - The Quality Control
Preparing 65 or more pages of detailed legal documents is not an easy task particularly since everything is riding on it. One serious mistake could turn a simple boring process into a nightmare.
This is all the more reason why you are better off having an experienced and trained pair of eyes looking over everything rather than trusting some ordinary bankruptcy software.
When we are done with preparing your bankruptcy forms, we run it through a series of quality control checks.
- First we check the bankruptcy information that you give us for completeness. You would be surprised how easy it is to leave out important information and not be aware of it.
Next we make sure that your belongs such as your house, your cars, your pensions, your life insurance, your furnishings and all of your other possessions are protected by bankruptcy exemptions against liquidation by the bankruptcy trustee.
- Then we crunch all of the numbers to make sure that you are truly insolvent, which in other words means that your bankruptcy discharge cannot be denied. When it is all said and done, the trustee looks to see if you cannot pay your bills, considering your income, expenses, size of household, etcetera and that is what our trained eyes and proprietary number cruncher tell us.
Note: All of this happens before we prepare the bankruptcy forms.
- We then prepare all of the bankruptcy forms the way the court wants them. All of the information is presented exactly as required. Every piece of data is placed on the right bankruptcy form, on the right page and in the right space. All the lists in all the schedules are alphabetized as required by the rules and all the numbers match up with each other and conform to what the trustees want.
- After we have prepared your complete set of bankruptcy forms, we painstakingly double check all of the critical parts. These are the parts that really matter.
If your car breaks down you can spend days guessing what is wrong, adjusting screws, fiddling with and replacing all sorts of parts, but unless you know for certain what is wrong, you will not be able to fix it. When you file bankruptcy, the trustee gets a copy of everything and assigns his or her staff to break it all down to the nuts and bolts and at the end of the day, if the trustee does not find what he or she is looking for, you have trouble.
Now, if you are doing it yourself or using bankruptcy software, you and the bankruptcy software will not know what is critical and what is not. Yes, you may save money buying some cheap software but eventually, you will wish you hadn't shortchanged yourself.
At the end of the day, all you really want is to have your discharge and our thoroughness ensures that. This is why we have never had a customer who did not get his or her discharge. And that is why we have the craziest guarantee in the business.
Handshake No. 3 - The Added Value
In addition to preparing your documents,
- We will accept as many creditors and bill collectors as you have at no extra cost. Bankruptcy lawyers and paralegals charge you extra after the first few creditors and that can get expensive.
- You can take your time giving us your bankruptcy information. The information you submit to us is saved as you enter it, so that you can do it in as many sessions as you need. All you do is log back on and continue where you left off. This means that you do not need to wait till you have all of your bills to get started. Sign up today and take your time gathering your bankruptcy information.
- You can make changes to your information at no extra charge, as often as you like, until our work is finished. After your bankruptcy forms have been completed and delivered to you and even after you have filed, you can still make changes and have us redo everything for a nominal charge.
- If you need to, you can file one joint bankruptcy with your spouse and save on court fees. We will allow you to add your spouse at no extra cost.
- We protect the privacy of your bankruptcy information. We never share your information with anyone. You will never get on a mailing list or get unwanted email from us.
- When you are done giving us your bankruptcy information, we will prepare your documents in one business day. In fact most people get back their completed bankruptcy forms in a few hours, but we say one business day so as to make sure our word is good no matter what the situation is.
- After you sign up, we give you free access to our credit information resources that you can use on your own down the road, to rebuild your profile. We will even put you in touch with attorneys who will take the bankruptcy off your bureau profile as though you never even filed. Who wants to wait the usual 10 years? Hire us and the credit attorneys can make it as if it never happened. That is just the icing on the cake.
Handshake No. 4 - The Support
We would like to tell you that our bankruptcy forms work better for you in court than that of everyone else but we will not, because we do not know how good the full-service documents of other outfits are.
We can say though that we offer the best overall customer satisfaction.
There are several reasons for this. First our people are more than just customer service reps. Each one of them has logged many years prior the advent of the Internet, preparing bankruptcy documents by hand and dealing with the bankruptcy courts.
When you contact them with a question, they give you the correct answer with uttermost certainty and authority rather than give you an educated guess.
Our second advantage is that we only handle personal bankruptcies and even more specifically, only chapter 7s and 13s.
Most important of all, even though we have done tens of thousands of bankruptcies, we are not the biggest company and you are not just a number to us. This means that we can take our time getting your bankruptcy filing right rather than rushing through it.
When it comes to hands-on full-service bankruptcy preparation, bigger does not mean better. We are big enough to have handled thousands of every type of bankruptcy case and small enough to care about you as an individual. This allows us to pay close attention to each individual customer and to get it right every single time.
Our handshake and word of honor is that we will be there to help you every single step of the way. If you have a special situation and need us to bend to accommodate you, we are more likely to do so than the other companies.
Handshake No. 5 - The Crazy Guarantee
We call our money-back guarantee the Crazy Guarantee because it just does not make any sense.
In the real world, companies and professionals only guarantee their work. They never ever take responsibility for the mistakes made by their customers. If you hire an attorney you get even less of a guarantee. Those guys guarantee you NOTHING. Except for personal injury contingency cases, have you ever heard of a divorce lawyer or a criminal lawyer who guaranteed to refund his or her fees if their client lost in court?
If you buy a computer and it accidentally flies out of the back of your pick-up truck and shatters to pieces on the highway, the store manager does not give you a new one or take responsibility for the mishap.
When we prepare your bankruptcy documents, we take responsibility not only for our work, but also for any mistakes you make in your information. For example, if you mistakenly entered $15,000 a month as your income instead of $1,500 and we did not catch the error, if the court denied your discharge, we would take responsibility and fix it at no cost to you or give you a full refund if it cannot be fixed.
It is important that you understand that we do not offer an unconditional money-back guarantee. We offer a performance guarantee. The difference is that with an unconditional guarantee, we could do all of the work and you could file your documents and then ask for your money back. If that were to happen, we would not be able to stay in business. Our guarantee is that your bankruptcy will be accepted by the court and that you will get your discharge.
Therefore, if you are not sure you want to file bankruptcy, do not order our services. It just wouldn't be fair to have us do all the work and then have you change your mind.
The end goal of every Chapter 7 bankruptcy filing is to get a discharge and that is what we guarantee. If at the end of the day, the court says no to giving you your discharge, you will get your money back. (There is however only one condition. You have to be serious about going through with it. This means that you will actually file the documents that we give you and that you will attend the mandatory creditor meeting and the Consumer Education class required by the new law. You cannot deliberately sabotage your own bankruptcy and hold us responsible.)
Full Service versus Do It Yourself
We are often asked by people why they should use us rather than to use online software.
Our answer is that you can find out for yourself how we campare by visiting the
Online Bankruptcy Reviews
site and see what others have said about us.
The Online Bankruptcy Reviews site is a top review site for consumer bankruptcy preparers.
There is also the popular
Chapter 7 Online Bankruptcy Reviews
site where you can see all the other bankruptcy sites compared side by side.
You may know a thing or two about electricity but when it comes to rewiring your entire house, wouldn't you want to have it done for you by a professional rather than to be handed a box full of electrical tools and told to call a toll free number if you need help?
That is exactly what happens when you do it yourself with software, whether it is online or with one of those executables programs that you download and install permanently on your hard drive.
Bankruptcy kits and software evoke the memory of one genre of movies called airplane disaster movies. In these movies, the pilot is either dead or unconscious and the jumbo jet is being flown by a passenger.
The reluctant passenger-turned-pilot is guided by a pilot on the ground via a hand held radio, into landing the massive plane before the fuel runs out.
That makes for exciting nail-biting movies but not for good bankruptcies. The best bankruptcy experience is a dull and boring one and that is what you can expect from us.
We will not give you a software tool and ask you to do it yourself. We will do it for you. And when you appear for your mandatory trustee meeting, it will be boring and uneventful because the documents will be done right.
Talking about doubletalk, some bankruptcy sites leave you unsure as to who is preparing the bankruptcy, you or them. Here is how to find out. Search their web page for the words software or technology. (It is as simple as doing a Ctrl-F on their web page to bring up the search dialog box.)
If the words download, software or technology describe what they do, then you know that it is do-it-yourself with software, but if they say full-Service or we will do it for you then that is what you want.
You Found a Treasure
So Save It!
We do not always advertise so bookmark us now!
Click To Add Us to Your Favorites
Here is how it works
- Sign up and select a username and password. This gives you access to our customer-only site where you can give us your information.
- Enter your information in our easy online questionnaire. You can save your information so that you can come back and continue where you left off or make changes.
- We will prepare all of your bankruptcy documents and deliver them to you via email as well as by a web link for redundancy. As we mentioned earlier, this includes the means test and its documents. In short, you get every official form prepared and ready for filing.
After you get the documents back from us,
- Sign them in all the spaces indicated.
- File the documents with the court. We provide you the location of the court in your area as well as their contact numbers and other instructions. Filing can be done either in person or by mail.
After filing the documents, the court clerk will notify the creditors by mail and then set a date for the creditor meeting which
is usually 4 weeks later.
It is called the meeting of the creditors
but in actually, creditors seldom show up. It is largely a dress rehearsal that may last a minute or two.
When it is your turn, you are asked one or two questions such as if you understand the significance of what you
That's about it. If you are scared about the meeting of
credits, don't be. Some people get scared into hiring a lawyer for this meeting, only to find out that the lawyer is not allowed to
speak for them at the meeting.
If you want to be scared,
be scared of preparing 60 or more pages of bankruptcy paperwork on your own, using software or paper forms.
That about sums it up.
To summarize, bankruptcy laws have changed thereby making it impossible to hack through 60 to 100 pages of punishing paperwork without the help of a Full-Service company or a seasoned attorney. When you hire us, we make it so easy that you will wonder what all the fuss about the harsh new laws is about. Don't get us wrong. The new laws are still as brutal as they say. The difference is that we take on the intense work of preparing everything for you while shielding you from all of the pain and aggravation.
Procrastination might be your thing, but this time, it could hurt you or may be even ruin your future.
Our everyday low price is $229, however...
If you are ready to get started today, we are offering a limited-time
sale price of only $159
instead of our regular price of $229.
This offer expires at midnight this
Saturday, December 15.
Only 3 days left
After the offer deadline, the price is one thing we cannot change, not even to be
Mr. Nice Guy. If you want the reduced sales price, then place your order today.
Order before midnight
Saturday, December 15
and we will throw in access to
your free credit report.
Order before midnight
Saturday, December 15 and we will throw in our:
Ask a Lawyer
The Ask-a-Lawyer feature allows to submit
your bankruptcy questions to a panel of lawyers who will scramble to give you answers. It is like getting a second
opinion from a lawyer, only better. Your questions are automatically routed to several lawyers who compete to give you the best answer. It is free and best of
all, you remain anonymous! You do NOT give them a credit card or even your name!
This free bonus alone is easily worth $500.
Click here to preview the Ask-a-Lawyer feature.
Order before midnight
Saturday, December 15
and we will refer you to
a network of lawyers who will work to clean things up and to:
Remove bankruptcy from your bureau profile in as little as 12 months after your discharge.
They have a verified track record of working with
bankrupt people and removing bankruptcies from credit records in as little as
12 months, instead of the usual 10 years. They start their work only after your discharge and they are able to produce
astonishing results for as little as the price of a modest family get-together. Although we do
not get anything back from them, under this referral you
cannot be turned down.
Order today while the sale lasts and pay:
Only $159 instead of $229
Get all 3 bonuses free
But you must order by midnight
Saturday, December 15
Only 3 days left!
[Disclaimer: Please note that
because of local time differences, the sale may expire prior to midnight
in your location. Also, we reserve the right to change the price before
the sale expires or to terminate the sale entirely prior to the posted
sale expiration date. Additionally, once the sale expires, we will not be
able to extend it at the request of anyone who misses it; neither can we
adjust the price on an individual basis.]
When you order our services, you will select a username
and password with which to log on to our customer-only site. Note that you do not need
to have all of your bills before you start. You can save your information in our
questionnaire with the click of a button and return at your convenience to continue.
us is very secure. We do not store your credit card information on our servers and no
employee or even any management personnel ever sees or comes into contact with it.
If you have not already done so, visit the
Online Bankruptcy Reviews
site and see how we compare to attorneys and to the other bankruptcy companies.
Chapter 7 Bankruptcy
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"Thank you ever so much for your service. You folks have been nothing short of doing everything you promised. I am very satisfied and glad that I found you. You've left nothing to chance and delivered fabulously! Thanks again for a job well done!"