Schlagwort:bankruptcy petitions

Bankruptcy: costs of filing bankruptcy with attorney, versus cost of filing using Bankruptcy Petition Preparer. Under the current U.S. Bankruptcy Code or law, the system provides essentially TWO basic categories of outside assistance that a debtor filing for bankruptcy may use – assistance provided by an attorney, and assistance provided by a non-lawyer. And both of these parties come under what is called „Debt Relief Agents or Agencies.“ Basically, the non-attorney assistance provider, who also goes by a name such as Bankruptcy Petition Preparer (BPP), preparers the documents upon which bankruptcy is filed with the Court for bankruptcy processing, while the attorney (or, more accurately, the help he hires that does such work) prepares the same set of documents, EXCEPT that the lawyer assistance-provider can supposedly give a debtor „legal advice,“ and can appear, on the debtor’s behalf, in the administrative hearing on the bankruptcy case administered by the Court „Trustee“ (who is not a Judge, but a court-appointed administrator) that will oversee the bankruptcy case.

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There is a great deal of confusion about the filing of bankruptcy in Canada vs. the United States. This article will focus on the filing of a bankruptcy in Canada. The bankruptcy process starts with initially consulting with a licensed Trustee. You need to meet with a trustee who is licensed by the federal government and practices in your local area. So the first step is to contact a local trustee and set up a time for them to evaluate where you are at financially. To be able to adequately explain all your options and give any quality advice this trustee will begin by reviewing the details of your financial situation. To do this they will sit down with you in person and talk about the fundamental areas of our personal finances (i.e. assets, income, living expenses and debts).

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