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8 Things Preparers of Bankruptcy Petitions Cannot Do

8 Things Preparers of Bankruptcy Petitions Cannot Do
"""Bankruptcy petition preparers are extremely popular among numerous consumers. They offer inexpensive assistance with filing, typing, and a variety of other services. The majority of bankruptcy preparers and independent bankruptcy paralegals charge between $199 and $299 in addition to court filing fees, so you may be tempted to hire one when deciding to file a case.

However, consumers should be cautious before choosing this route.

8 Things Preparers of Bankruptcy Petitions Cannot Do

Cannot advise you to file for bankruptcy - or not to file (so you may wind up in bankruptcy when it is not necessary);
Cannot advise you which type of bankruptcy to file (so you may file the wrong type of case);
Cannot tell you which debts will be discharged if you file a case (which means that you could apply for bankruptcy in order to discharge a specific debt but end up remaining liable);
You could file the wrong form of case and lose your home, car, or other property.
I cannot predict whether you will be able to eliminate your tax debts.
Cannot advise you on your rights and responsibilities under the bankruptcy laws; Cannot inform you whether or not you should reaffirm a debt;
Cannot collect the bankruptcy court filing fee and file the necessary paperwork on your behalf.

In conclusion, you could save a substantial sum of money by declaring bankruptcy with one of these operations. But if you do, you'll need to be prepared to do some hefty lifting.

Prepare yourself to learn the law inside and out so that you can act appropriately in any given circumstance. Acquaint yourself with the various bankruptcy exemptions and case categories. Study the forms you'll need to file and familiarize yourself with the local regulations.

Before you can feel confident in your decision to file for bankruptcy without an attorney, you should anticipate to devote 50 to 100 hours to independent study.

Alternatively, you could employ a lawyer and rely on the experience you pay for.

Your choice, naturally.""

" - https://www.affordablecebu.com/

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"8 Things Preparers of Bankruptcy Petitions Cannot Do" was written by Mary under the Finance / Wealth category. It has been read 140 times and generated 0 comments. The article was created on and updated on 02 June 2023.
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