As with most other legal proceedings, bankruptcy is not often a straightforward process. The actual terms of the bankruptcy ruling can sometimes be a challenge to understand, but even the process of filing for bankruptcy is complex. In terms of the filing process, known as a bankruptcy petition, a mistake at this stage can have harsh implications throughout the bankruptcy so accuracy is key. A bankruptcy petition preparer can help you prepare your documents and work towards a greater level of accuracy.
As previously mentioned, a bankruptcy petition preparer can offer a greater level of accuracy. With manual preparation, most people are completing the documents by hand. With this scenario, it's easy to transpose numbers, miss important details and make other mistakes – especially if you have pages and pages of information to submit.
These preparers generally use a sophisticated software system to input your information and complete the documents. This method lowers the likelihood of a mistake and provides the court with accurate information.
The fact that preparers use software programs instead of manually completing bankruptcy forms can offer the benefit of having your documents prepared faster. In addition to manually entering your data, when you prepare the documents on your own, you have to find time to work on the packet as your schedule permits.
When you are facing a financial crisis, each day that passes only puts you further in the red. Having the ability to have your petition completed faster allows you to file your bankruptcy with the court sooner rather than later to get you back on track.
Not Legal Counsel
While they can offer a number of benefits, it's important that you not confuse these professionals with legal counsel. A preparer cannot offer you any form of legal advice, including what type of bankruptcy you should file, which assets you should not list or even which debts you can include. These are all details that you must already have worked out before enlisting their services.
These individuals can only assist you with the task of preparing your information for filing. While in some cases a preparer might work for an attorney's office, they do not offer the same services and are generally legally prohibited from offering any type of advice.
If you need assistance completing your filing paperwork, make sure you aren't overlooking the benefits that a bankruptcy preparer can afford you.Share