Free Bankruptcy Forms
The cost of legal professionals ranges from $400 to $1,500 in a typical bankruptcy filing. In most cases, it behooves you to find a knowledgeable attorney to guide you through the process, especially if you’re filing for Chapter 13 bankruptcy, which requires negotiation with your creditors to reach a reduced settlement and repayment plan. However, if you’re filing for a basic Chapter 7 bankruptcy, then you may be able to represent yourself “pro se” and obtain free bankruptcy forms online.
Many of the needed bankruptcy forms library officials provide free of charge, just as you can obtain annual tax forms. While you’re there, you can snag your free bankruptcy forms and also take out a few books to guide you through the bankruptcy process. One book to try is “We The People’s Guide to Bankruptcy: A Do-It-Yourself Plan for Getting Out of Debt” by Ira and Linda Distenfield, which offers other alternatives to bankruptcy as well. If you’re unsure of the laws surrounding bankruptcy, then try “Personal Bankruptcy Laws For Dummies” by James P. Caher and John M. Caher or “Personal Bankruptcy Simplified” by Daniel Sitarz. For Chapter 7 bankruptcy, you may find a book called “How to File for Chapter 7 Bankruptcy” by Stephen Elias, Albin Renauer and Robin Leonard handy. For Chapter 13 bankruptcy, try “Chapter 13 Bankruptcy: Keep Your Property & Repay Debts Over Time” by Robin Leonard J.D. and Stephen Elias or “The Complete Chapter 13 Personal Bankruptcy Guide” by Haman.
You will probably come across a number of sites advertising bankruptcy document forms or kits for $14 to $19. When compared to $500 to $1,500 for a legal professional, this may sound like a great deal. However, you can also find free bankruptcy forms if you know where to look. For instance, www.thebankruptcysite.org will give you these same forms absolutely free. You’ll find voluntary and involuntary petitions, forms to list your expenditures and creditors, a Chapter 7 statement of intention, No Asset forms and free forms for Chapters 11, 12, 13 and 15 as well. You will need to have Adobe Acrobat installed to read and print out these forms.
Free bankruptcy forms can be a great alternative option for people who can’t afford an expensive attorney. According to MSN Money Central, there are five other ways to reduce the costs associated with a bankruptcy legal professional. First, you may consider adding the attorney costs to your bankruptcy filing so your lawyer will be paid through a Chapter 13 settlement. In addition to free consultations, attorneys recommended by Legal Aid Services may work for a reduced fee or even pro bono. Visit www.abanet.org/legalservices/probono/directory/programlinks.html for help finding pro bono programs. You may also opt for “Limited Scope Representation,” which may enlist an attorney’s help in drafting the original legal forms but will leave the rest up to you and will cost perhaps $400 instead of $1,500. Lastly, you can try the “pro se” route and represent yourself in a local bankruptcy court.
Filed under: Financial Advice