All over the web are paid attorney advertisement websites that tell consumers to seek an attorney for bankruptcy. Although bankruptcy attorneys are quite useful, they are not required to file bankruptcy. Along with do it yourself using free forms found online, there is the option to hire a Bankruptcy Petition Preparation (BPP) service. Note, Bankruptcy Petition Preparers are not substitutes for attorneys, just another option to file.
Bankruptcy Petition Preparers are non-attorneys the U.S. Bankruptcy code allows to help consumers in debt by preparing their bankruptcy petitions. The reason for this is preparing a bankruptcy petition which is about 30-60 pages can be quite confusing and frustrating. These non-attorney petition preparers are not required to receive any training or certification. Some take it upon themselves to study and learn the ins and outs of bankruptcy document preparation. A number of them are also paralegals with bankruptcy experience. Some lawyers who are overwhelmed with a large number of bankruptcy cases outsource bankruptcy petition preparers. You will find some companies online that only work for attorneys.
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Petition Prepares are held responsible for the quality and accuracy of the documents they prepare. They are hit with costly fines if they are found in violation of the bankruptcy code or are found to be negligent. Keeping this in mind, only Bankruptcy Preparation Services based in the United States can be fined or held accountable. Beware of these companies. Bankruptcy Petition Prepares are required to supply the consumer with a disclosure that identifies who prepared the documents, restrictions they face, and the amount of the fee collected.
These non-attorneys have certain restrictions on their service. These restriction are:
•They may not give legal advice of any kind.
•They may not advice the debtor on which chapter they should file.
•Whether they debtors debts will be discharged under this chapter.
•Whether the debtor may retain their car, house, or any property under this chapter.
•The tax consequences of a case brought under this chapter.
•The tax discharge ability under this chapter.
•Whether the debtor may or should promise to repay debts to a creditor or enter into a reaffirmation agreement with a creditor to reaffirm a debt.
•How to characterize the nature of the debtor's interests in property or the debtor's debts.
•Anything Concerning bankruptcy procedures and rights.
•They may not file your bankruptcy on your behalf.
There are several Bankruptcy Preparation Services online. Most of them will have the consumer fill out a bankruptcy questionnaire to gather needed information for the petition, the same as a bankruptcy attorney. They will usually have the documents ready in 24-48 hours using bankruptcy software. They will then mail them to you for you to sign and file. The fee range for this service is $100-$200. Anything higher is unreasonable. When choosing which company to use you should follow these guidelines:
•Make sure they are based in the U.S. (this way they can be held accountable).
•Search the web for complaints about the company.
•Watch out for sites that look similar or link to one another (these sites might be owned by the same company).
•Look for contact information (an 800# is a major plus, you should not have to wait for an e-mail reply if you have a question or problem) Great customer service is best delivered while talking to a live person.
•An online questionnaire completed on a secure server(this is one of the safest ways to collect your sensitive information),
•A refund policy (if a money back guarantee is offered, then you should know how and when your money will be returned).
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