U.S. Bankruptcy Court, Central California, Los Angeles, Ca

Is Bankruptcy Without a Lawyer Right For YOU?

Different Chapters of Bankruptcy

Chapter 13 Pros and Cons

Chapter 13 Bankruptcy Fees

Bankruptcy Paperwork

Pre-Filing Credit Counseling

Filing Bankruptcy Paperwork

Verification and Ammendments

Bankruptcy Meeting of Creditors

Chapter 13 Confirmation Hearing

Post-Filing Bankruptcy Debtor Education

Chapter 13 Repayment Plan

Bankruptcy Discharge of Your Debts

IS BANKRUPTCY WITHOUT A LAWYER RIGHT FOR YOU?

Filing for Chapter 13 Bankruptcy Without a Lawyer can be stressful, without guidance. Essentially, you are auditing your financial life for review by the Federal Government, filling out a lot of paperwork, passing two online debtor courses, and attending at least two bankruptcy meetings. Should you choose to file bankruptcy, you have three options:

Hiring a lawyer to represent you,

Hiring a Bankruptcy Petition Preparer (BPP) to "prepare" your paperwork, while handling all bankruptcy communications yourself, OR

Filing your bankruptcy "Pro Se" (Without a Lawyer).

There is nothing that says you must hire a lawyer to get bankruptcy relief. Choosing a Lawyer or BPP DOES NOT guarantee there will not be errors (they can make mistakes, too).

The time spent to file Bankruptcy Without a Lawyer on July 24, 2022 can be greatly reduced using this EZ bankruptcy tutorial and EZBankruptcyForms BANKRUPTCY SOFTWARE, however, .

DIFFERENT CHAPTERS OF CONSUMER BANKRUPTCY

The "Chapters of Bankruptcy" are the kinds of bankruptcy that you can file. There are SEVERAL different chapters of bankruptcy, and most of them have to do with corporations. The only ones an individual need to be concerned with are Chapter 7 and Chapter 13. In most circumstances, Chapter 7 Bankruptcy allows you to "discharge" (get rid of) ALL your unsecured debt, allowing you to get a "fresh start" on your finances, while keeping things like your car and your home. There are restrictive income thresholds to file Chapter 7 Bankruptcy, and you are only allowed to file Chapter 7 once every eight years, as discussed in further detail in our Chapter 7 bankruptcy tutorial. Chapter 13 Bankruptcy is the far less popular of the two, requires a 3 to 5 year repayment plan, and requires AT LEAST TWO court visits. Some individuals who do not qualify for Chapter 13 only have Chapter 13 as an option.

CHAPTER 13 PROS AND CONS

A debtor may choose to file for Chapter 13 bankruptcy for the following reasons

The debtor is above the income threshold for Chapter 7 Bankruptcy, or has filed Chapter 7 bankruptcy once in the last 8 years.

CHAPTER 13 BANKRUPTCY STOPS FORECLOSURE, provided can afford to make up missed payments over time.

Your INVESTMENT PROPERTY (not your residence) is worth less than what is owed. Chapter 13 allows you to "cram-down" the debt to the amount the property is worth.

On your PRIMARY RESIDENCE, you owe more on your 1st mortgage than the home is currently worth. In Chapter 13, you can turn your 2nd mortgage (and any subsequent mortgages) into unsecured debt, and reduce the 2nd mortgage (and subsequent mortgages) to a fraction of what is owed.

If you own a vehile purchased more than 2-1/2 years ago, you can "cram-down" the debt to the current value of the vehicle.

A tax obligation or student loan that cannot be discharged in bankruptcy can be paid off over time using Chapter 13.

A debtor who owns a retail business that would be ordered to shut down in Chapter 7 can continue to operate the business in Chapter 13.

...but should be aware of the following pitfalls

It’s a 3 - 5 year commitment

The bankruptcy trustee will monitor your income

It has a 67% failure rate, meaning two-thirds of the individuals who file for Chapter 13 are not able to complete the plan.

Chapter 13 BANKRUPTCY FEES

As of July 24, 2022, our EZ software will cost about $50, and you should expect to pay $313 in court filing fees and $40-$60 in online education costs. The court system DOES NOT allow you to file for a bankruptcy fee waiver when filing Chapter 13 Bankruptcy.

PREPARE YOUR INITIAL BANKRUPTCY PAPERWORK

Itemizing your assets and liabilities on paper (filling out the bankruptcy paperwork) is the most tedious step in the bankruptcy filing process. You will need to pull a credit report on yourself (you're allowed one free one per year) from a reporting agency online to get your liabilities, and list all your assets (bank accounts, cars, household items, etc) on the official bankruptcy forms.

FREE OPTION: There is a list of over 100 bankruptcy forms listed for free download from the U.S. Courts here. The forms listed are for all chapters of bankruptcy, not just Chapter 13. If you were to file without using some sort of EZ bankrutpcy software you would need to find the ones specifically created for Chapter 13 bankruptcy. Those free forms do not come with any guidance as to how to fill them out, ask you to download information from the internet without providing links in which to do so, and do not auto-populate or auto-calculate. If you use the free forms, you will spend several hours, or even several days, trying to figure out basic strategies in filling out the forms.

REASONABLY PRICED OPTION: EZBankruptcyForms Chapter 13 Bankruptcy Software will allow you to file your bankruptcy paperwork cheaply and accurately. Of the over 100 bankruptcy forms on the government website, we have created a file combining the 18 forms that are specifically related to Chapter 13 bankruptcy, embedded formulas and guidance in each to allow you to complete your bankruptcy paperwork the same day you start. The forms are created to flow in a "This is who I am, this is what I'm doing (filing Chapter 13), this is who I owe, this is the property I want to keep, and this is why I should keep that property" manner. When filing bankruptcy without a lawyer, we feel the $49 cost spent for EZBankruptcyForms BANKRUPTCY SOFTWARE is well worth the 30-40 hours of time saved.

PRE-FILING CREDIT COUNSELING

Obtain your Credit Counseling "Certificate of Completion" from a Bankruptcy Approved Credit Counseling Provider list to find agencies providing this service of between $20-$30. Typically, when you pass the class online the certificate will be emailed to you the next day. When filing bankruptcy without an attorney, make sure you include this certificate with your paperwork. THIS IS PART OF THE FORMS YOU ARE SUBMITTING.

FILING BANKRUPTCY PAPERWORK (DAY 0)

Use EZBankruptcyForms Bankruptcy Court Locator to find your local bankruptcy court and pay any applicable fees in cash or money order only.
You should receive a receipt with your case number, Bankruptcy Judge name, Bankruptcy Trustee name, and court date for your "Meeting of Creditors" (about 40 days out). On this date, your "Automatic Bankruptcy Stay" begins, which stops all collection efforts (including wage garnishment), all harassment, and all foreclosure actions until the end of your bankruptcy proceedings unless your creditor petitions the court (and you) in writing. We refer to this as "Day Zero" of your bankruptcy filing.

BANKRUPTCY VERIFICATION AND AMMENDMENTS (DAY 1 - 40)

Make your first payment toward your proposed debt-repayment plan to the bankruptcy Trustee within 30 days of filing for Chapter 13 bankruptcy. On your original bankruptcy paperwork, you proposed a monthly repayment plan based on your "disposable income" calculated on the "CHAPTER 13 STATEMENT OF CURRENT MONTHLY INCOME" form. You must make that proposed monthly payment within 30 days of filing, EVEN BEFORE YOUR MEETING OF CREDITORS.

After you file, the bankruptcy trustee will review your paperwork, and will let you know in writing if any required forms are missing. Of the 18 forms you filed, only four of them are required by law. Each form you have submitted has a specific purpose. From "Who you are" (Name and SSN), to "What you're doing" (Filing for Chapter 13), to "How You Qualify" (Means Test), to "Who you owe" (Creditors), to "What you'll keep and why" (Property), each form has different, specific information. Technically, you could file for bankruptcy, forget to fill out the Property form, and, since you didn't state what property you wanted to keep and why, your creditors can then take that property as part of your bankruptcy.

The bankruptcy Trustee will receive and review your forms within this period of about 40 days, and let you know if you have any discrepancies (for example, if you put the wrong SSN with your name). The Trustee WILL NOT let you know if you are not filing to the best of your abilities (for example, if you forgot to include your car, your house, or your bank account as one of the properties you wanted to keep). Review your file yourself, and make sure that you are filing to the best of your abilities.

You should get something in the mail stating all the separate forms that have been received, and you will also probably get something stating your upcoming "341 Meeting of Creditors" date. Part of the Trustee's job in making sure you are not committing bankruptcy fraud is asking for YOUR LAST TWO BANK STATEMENTS, LAST TWO MONTH'S PAYSTUBS, LAST YEARS TAX FORMS AND ANY PAPERWORK ON REAL ESTATE YOU OWN, and will want to review it before your Meeting of Creditors. Respond to every correspondence your trustee or the court sends you that require a response.

If you find a mistake in one of the forms you initially submitted (either by the Trustee letting you know of a discrepancy or you discovering something something on your own), now would be the time to submit an ammended form in it's place. If you need to make an ammendment, you only need to ammend that particular form, not all of the forms.

MEETING OF CREDITORS (around Day 40)

Whether you file with a lawyer or not YOU must personally attend. Be on time. Bankruptcy is a Federal Law, so you will be required to bring a Photo ID AND YOUR SOCIAL SECURITY CARD. Don't expect to see creditors there, as you will see other bankruptcy filers with their lawyers. Answer all questions posed to you by the Trustee truthfully. They use the same standard questions for every filer whether or not they file bankruptcy with an attorney, such as: Your name and address for the record. Is the listed social security number correct as was originally issued? Did you read, sign, and understand the petition? Are there any errors or omission? Have you listed all assets and all creditors? These questions are asked to have a verbal record that this is the file you are submitting, and this is the way you wanted it submitted. It is also used to prevent fraud. If you have done everything honestly to this point, you should be fine, and this meeting should take about 10 minutes or less.

CHAPTER 13 “CONFIRMATION HEARING” (SHORTLY AFTER YOUR MOC)

This will be held shortly after the creditors’ meeting in front of the bankruptcy judge, who will EITHER confirm (approve of) your proposed plan OR send you back to the drawing board for various reasons—usually because your plan doesn’t meet Chapter 13 requirements. (For example, a judge might reject your plan because you don’t have enough income to pay off your priority creditors in full while staying current on your secured debts, such as a car note or mortgage.)

You are entitled to amend your proposed plan until you get it right or the judge decides that it’s hopeless. Each amendment requires a new confirmation hearing and appropriate written notice to your creditors. Once your plan is confirmed, it will govern your payments for the three- to five-year repayment period.

POST-FILING DEBTOR EDUCATION (DAY 41 - 85)

WITHIN 45 DAYS AFTER THE MEETING of CREDITORS: Submit certificate of completion for your post-filing Personal Financial Management Instruction Course. THIS IS MANDATORY and is a different course from the credit counseling course mentioned earlier. It is an online class that will take two hours to complete and cost about $20-$30. Use EZBankruptcyForms Bankruptcy Approved Debtor Education Providers list to find agencies providing this service.

REPAYMENT AND EXPENSE REPORTS (ONGOING)

Keep making your monthly payments to the bankruptcy Trustee on time. You must do this in lieu of paying your creditors for as long as your Chapter 13 case is open (three to five years).

Be aware that because this will be an open, active bankruptcy for 3-5 years, you will have to file annual income and expense reports with the bankruptcy court. You must file these or your case will be dismissed. This is a simple but necessary step.

WAIT FOR FINAL CORRESPONDENCE

If you have followed your above mentioned "payment plan", this should happen between three and five years after your case has been filed. You will receive something in the mail stating your Chapter 13 debts are now discharged.

RETURN TO EZ BANKRUPTCY WITHOUT A LAWYER TABLE OF CONTENTS

BANKRUPTCY WITHOUT A LAWYER - CHAPTER 13: EZBANKRUPTCYFORMS.COM

U.S. Bankruptcy Court, Central California, Los Angeles, Ca

STOP FORECLOSURE with Chapter 13 Bankruptcy

Chapter 13 Bankruptcy cases are very hands-on, and require the debtor to send timely payments according to a court-approved payment plan for a period of 3 to 5 years. 67 PERCENT OF CHAPTER 13 FILINGS FAIL whether you file with or without a lawyer, primarily because the debtor is not able to keep up with the payment plan over a long period of time. As of July 24, 2022, you should expect to pay $313 in court filing fees and $40-$60 in online education costs.

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free HOW TO FILE BANKRUPTCY WITHOUT A LAWYER tutorial

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In filing for bankruptcy without a lawyer
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GOOD LUCK WITH YOUR BANKRUPTCY

Here are the steps of the tutorial. Look for a box like this on other pages to guide you through the process:

1. Initial Qualification (Chapter 13)
2. FILLING OUT YOUR PAPERWORK
3. Credit Counseling Certificate
4. FILING YOUR PAPERWORK
5. Meeting of Creditors
6. Financial Management Certificate
7. Debt Discharge

To find out more, HOVER OVER ME.

Bankruptcy Discharge of Your Debts

IS BANKRUPTCY WITHOUT A LAWYER RIGHT FOR YOU?

Hiring a lawyer to represent you,

Hiring a Bankruptcy Petition Preparer (BPP) to "prepare" your paperwork, while handling all bankruptcy communications yourself, OR

DIFFERENT CHAPTERS OF CONSUMER BANKRUPTCY

CHAPTER 13 PROS AND CONS

A debtor may choose to file for Chapter 13 bankruptcy for the following reasons

The debtor is above the income threshold for Chapter 7 Bankruptcy, or has filed Chapter 7 bankruptcy once in the last 8 years.

CHAPTER 13 BANKRUPTCY STOPS FORECLOSURE, provided can afford to make up missed payments over time.

Your INVESTMENT PROPERTY (not your residence) is worth less than what is owed. Chapter 13 allows you to "cram-down" the debt to the amount the property is worth.

If you own a vehile purchased more than 2-1/2 years ago, you can "cram-down" the debt to the current value of the vehicle.

A tax obligation or student loan that cannot be discharged in bankruptcy can be paid off over time using Chapter 13.

A debtor who owns a retail business that would be ordered to shut down in Chapter 7 can continue to operate the business in Chapter 13.

...but should be aware of the following pitfalls

It’s a 3 - 5 year commitment

The bankruptcy trustee will monitor your income

It has a 67% failure rate, meaning two-thirds of the individuals who file for Chapter 13 are not able to complete the plan.