General Question

MooCows's avatar

Do you know anyone who successfully filed for bankruptcy on line?

Asked by MooCows (3185points) May 21st, 2016

I know you can have a will made out on line and
it be legal but was wondering if you could successfully
file for chapter 7 bankruptcy on line. I have seen it
advertised but always wondered if it was a scam.

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5 Answers

Tropical_Willie's avatar

You file with the local bankruptcy court. With a long list of items and documents.
You understand that Chapter 7 means you may have to sell everything repeat EVERYTHING (there are exemptions) to be paid out to the creditors, student loans are still your liability after bankruptcy.
You may have to show that you recently gone to credit counseling.

A will is a piece of paper. Bankruptcy is a process to liquidate all assets in Chapter 7.

I’m not a lawyer; I just know someone that went through a bankruptcy.

Earthbound_Misfit's avatar

However, if I were going to file for bankruptcy, I would seek advice from someone who was an expert. Just as with a will, if you don’t get everything right, you can get in a pickle (or in the case of your will – your relatives can face problems).

Call_Me_Jay's avatar

I can’t imagine an attorney risking their standing with the court by going in without a really complete knowledge of the client’s situation. You can go to prison for misrepresenting your situation or hiding assets. Bankruptcy is handled in federal court, they don’t tolerate any shenanigans.

Also, they really hate people going in without a lawyer because the process is complex and they don’t have time to handhold. Most likely they would boot you out for being unprepared.

However, I do see bankruptcy attorney ads asking people to sign up for an appointment online. And they probably want to get your basic information online or over the phone before setting up an in-person appointment.

Coloma's avatar

I wouldn’t advise it. Good legal support is imperative.
The amount of paperwork is exhorbitant and without legal guidance you risk doing it wrong. I would look for a local bankruptcy atty. to do it for you. I had to file last year and trust me, you will need the guidance and prep work of an experienced atty.

You will also be required to attend a hearing where your filing is questioned in court. You need to have your legal counsel with you, part of what the bankruptcy fees include. You will also be required to take several, online, money management classes which are, essentially a complete joke as a 3 rd grader could pass them, but it is mandatory.

Coloma's avatar

Honestly, it is not that bad, really. I filed a chapter 7, which discharges your unsecured debts like credit cards, personal bank loans/lines of credit etc. It cost me about $1,350 in legal/filing fees and my atty’s. legal asst. was the greatest guy in the world. Am I happy that I had to file after years of excellent credit and never an issue in paying my bills, no.

It does feel rather demoralizing, but, OTOH hand it also had nothing to do with any irresponsibility on my behalf and everything to do with losing my work, and life savings in the recession between 2010 and 2013. What’s a joke is how, almost the day you file, how credit card companies and car malls and all manner of credit peddlers find you and you are inundated with offers to buy, buy, buy again. Unreal!
My bankruptcy was pretty simple and with only 2 creditors but I was astounded to hear from my atty. the insane amount of debt some people have.

He said one of his clients had over 180 creditors after them!
It used to be that many people filed because of negligent money managing habits but now, in light of the recession the two biggest reasons people file are job loss and medical bills.
I’d rather have not had to do it but, I also don;t feel bad about it either as it was no fault of my own.

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