HOW TO FILE A CHAPTER 7 BANKRUPTCY WITHOUT AN ATTORNEY

by Ms_Arlene

Let's face it, most people who cannot afford an attorney are not successful in the legal arena. It is not because the attorneys are so bright, but they are taught "how-to" take action. From law school to ongoing yearly training, they have access to information that most people are not exposed to at the time. Filing a Chapter 7 Bankruptcy is no different. The goal of most people who file a bankruptcy seeks a discharge of their debts and a new start as promised. But many are not able to get the discharge because they don't know how to fill out the documents.
This course is designed to provide you with a comprehensive understanding of Chapter 7 bankruptcy, its benefits, and the steps involved in the process. This course contains PDFs, videos, and commentary. The method used is meant to make the subject matter interesting and digestible. Although bankruptcy filing is governed by federal law, each state has issues that are particular to them. So, this course should be used along with the information provided in your states website for the bankruptcy court.

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How to File a Chapter 7 Bankruptcy without an Attorney is a course that is perfect for an individual who is learning how to file a bankruptcy to increase their knowledge as a paralegal or as a person who has made the decision to file a Chapter 7 Bankruptcy without an attorney. The benefit of taking this course is to learn the key components of a bankruptcy filing and preparing your documents in a manner that will end in the discharging of your debts.
This course is not for someone who is seeking relief due to the fact that their home is in foreclosure or their car is about to be repossessed, not unless you have made a decision to let it go. If it is your intent to keep your real property or vehicle, consider filing a Chapter 13 Bankruptcy and preparing a plan that would allow for a repayment of the amount that is behind. Please see our Chapter 13 course.

COURSE CURRICULUM

Module 1: What is a Chapter 7 Bankruptcy
The primary purpose of Chapter 7 bankruptcy is to offer individuals and businesses facing overwhelming debt a fresh start by discharging most of their unsecured debts. It serves as a debt relief option for those who are unable to repay their debts and need a financial reset. The key objectives is debt discharge, automatic stay, liquidation of assets, fair distribution to creditors and a financial fresh start.

Group Lessons for “What is a Chapter 7 Bankruptcy?”

23:00
Module 1 Grouped Lessons

Module 2: Prepare to File a Chapter 7 Bankruptcy
Preparation is key! It's essential to gather creditor information from various sources. Be thorough. Know your creditors name, mailing address, phone number, account numbers, and the nature of the debt. Calculate your household income in the manner that is required. Preparation is the basis of success.

Module 3: Voluntary Petition
Voluntary Petition Official Form 101 is used to initiate bankruptcy proceedings. Filing the voluntary petition triggers an automatic stay, which is a legal order that halts most collection actions by creditors. The Voluntary Petition is a legally binding document. By signing it, the filer attests to the accuracy and completeness of the information provided.

Module 4: Chapter 7 Individual Debtor’s Statement of Compliance with Credit Counseling Requirement (Form 103A).
A Certificate of Credit Counseling is required for a Chapter 7 bankruptcy. This requirement was introduced to encourage individuals to seek financial counseling and explore alternative options before filing for Chapter 7 bankruptcy, which is a liquidation bankruptcy that discharges most of the debtor's unsecured debts

Module 5: Statement of Social Security Number
Statement of Social Security Number goes to identity verification, taxation, and government benefits. Here are some of the key reasons why this statement is important. Lenders, banks, and credit reporting agencies use your SSN to assess your creditworthiness and establish your credit history.

Module 6: Statement of Intention (Form 108)
The primary purpose of Statement of Intention is to inform the bankruptcy court, creditors, and the bankruptcy trustee about the debtor's intentions regarding secured debts. It specifies whether the debtor plans to retain the property securing the debt, surrender it to the creditor, or reaffirm the debt.

Module 7: Schedules A/B
Schedule A/B is a comprehensive inventory of all the assets the debtor owns, including real property (real estate) and personal property. Schedule A/B is just one of several schedules and forms that debtors are required to complete when filing for bankruptcy.

Module 8: Schedules C. The Property You Claim as Exempt
The primary purpose for Schedule C is to allow debtors to claim certain property exemptions. Property exemptions determine which of the debtor's assets are protected from liquidation and can be retained as the debtor seeks to discharge or restructure their debts.

Module 9: Schedules D. Creditors Who Have Claims Secured by Real Property
Schedule D requests information as to secured debts, which are debts that are backed by collateral, such as a car loan or a mortgage. In other words, secured debts are those where the creditor has a legal claim (lien) on specific property owned by the debtor as collateral for the debt.

Module 10: Schedules E/F. Creditors Who Have Unsecured Claims
The primary function of Schedule E is to provide a comprehensive list of the debtor's unsecured priority debts. Unsecured priority debts are those debts that have a higher priority for repayment in the bankruptcy process and are typically not eligible for discharge.

Module 11: Schedule G. Executory Contracts and Unexpired Leases
The primary purpose of Schedule G is to list and detail any unexpired leases or executory contracts that the debtor wishes to assume or reject during the bankruptcy process. Unexpired leases and executory contracts are where both parties have ongoing obligations, and neither party has fully performed their duties.

Module 12: Schedule H. Your Codebtors
Schedule H is used to disclose and provide information about any individuals or entities who have co-signed or guaranteed the debtor's debts. These individuals or entities are known as "codebtors" or "cosigners."

Module 13: Schedule I. Household Income
Schedule I allows for a comprehensive overview of the debtor's current financial situation, including their income, expenses, and certain other financial aspects. Its primary purpose is to disclose the debtor's income and enable the bankruptcy trustee, creditors, and the court to assess the debtor's ability to repay their outstanding debts.

Module14: Schedule J. Expenses
The primary purpose of Schedule J is to provide a comprehensive breakdown of the debtor's monthly living expenses. By itemizing these expenses, it helps establish a clear picture of the debtor's financial obligations and standard of living.

Module 15: Statement of Financial Affairs for Individuals Filing for Bankruptcy
The Statement of Financial Affairs (SOFA) verifies answers previously provided in the Bankruptcy Schedules. It also follows the money, accuracy and detail is required.

Module 16: Chapter 7 Statement of Your Current Monthly Income (Form 122A-1Supp)
The Chapter 7 Statement of Your Current Monthly Income is made by comparing the individual's "current monthly income" to the median income for their state and household size. If the individual's income is below the median, they generally qualify for Chapter 7 without further means testing.

Module 17: Means Test Calculation (Form 122A-2)
The Means Test Calculation, often referred to as Form 122A-2 (officially known as the "Chapter 7 Statement of Your Current Monthly Income and Calculation of Commitment Period"), determines whether a debtor is eligible to file for Chapter 7 bankruptcy or if they should consider Chapter 13 bankruptcy based on their current monthly income and disposable income.

Module 18: Summary of Schedules
The Summary of Schedules requires calculation of all categories.

Module 19: Preparing for the Meeting of the Creditors
The primary purpose of the Meeting of Creditors is to provide a forum where creditors can inquire about the debtor's financial affairs and the details of the bankruptcy case. It allows creditors to ask questions and seek information regarding the debtor's assets, liabilities, income, and other financial matters.

Module 20: Take Financial Management Course and Conclusion
The final step after the meeting of the creditors is to take the online, in-person, or telephone financial management course. It is designed to help individuals better manage their finances, develop sound financial habits, and make informed financial decisions.

HOW TO FILE A CHAPTER 7 BANKRUPTCY WITHOUT AN ATTORNEY

What I will learn?

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DISCLAIMER:

COURSE CURRICULUM

Group Lessons for “What is a Chapter 7 Bankruptcy?”

Module 1 Grouped Lessons

Grouped Lessons for “Prepare to File a Chapter 7 Bankruptcy.”

Prepare to File a Chapter 7 Bankruptcy

Voluntary Petition

Module 3

Individual Debtor’s Statement of Compliance with the Credit Counseling Certificate

Individual Debtor’s Statement of Compliance of Credit Counseling Certificate

Statement of Social Security Number

Statement of Social Security Number

Statement of Intentions and Reaffirmation Agreement

Statement of Intention

Module 7: Schedules A/B Schedule A/B is a comprehensive inventory of all the assets the debtor owns, including real property (real estate) and personal property. Schedule A/B is just one of several schedules and forms that debtors are required to complete when filing for bankruptcy.

Schedule A/B – Real and Personal Property

Schedules A/B

Schedule C – Exemptions

Schedule C Exemptions

Schedules D – Secured Creditors

Schedule D

Schedule E/F – Priority and Unsecured Debts

Schedule E/F

Schedule G – Executory Contracts and Unexpired Leases

Executory Contracts and Executory Leases

Module 12: Schedule H. Your Codebtors Schedule H is used to disclose and provide information about any individuals or entities who have co-signed or guaranteed the debtor's debts. These individuals or entities are known as "codebtors" or "cosigners."

Schedule H – CoDebtors

Schedule H

Schedule I – Your Household Income

Breakdown of Your Income

Module14: Schedule J. Expenses The primary purpose of Schedule J is to provide a comprehensive breakdown of the debtor's monthly living expenses. By itemizing these expenses, it helps establish a clear picture of the debtor's financial obligations and standard of living.

Schedule J – Your Expenses

How much money do you have left after paying all expenses for the month?

Module 15: Statement of Financial Affairs for Individuals Filing for Bankruptcy The Statement of Financial Affairs (SOFA) verifies answers previously provided in the Bankruptcy Schedules. It also follows the money, accuracy and detail is required.

Statement of Financial Affairs

Statement of Financial Affairs

Chapter 7 Statement of Current Monthly Income

Chapter 7 Statement of Current Monthly Income

Means Test Calculation

Means Test Calculation

Module 18: Summary of Schedules The Summary of Schedules requires calculation of all categories.

Draft Lesson

Summary of Schedules

Meeting of the Creditors

Meeting of the Schedules

Conclusion with Final Steps

CONCLUSION

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Module 7: Schedules A/B
Schedule A/B is a comprehensive inventory of all the assets the debtor owns, including real property (real estate) and personal property. Schedule A/B is just one of several schedules and forms that debtors are required to complete when filing for bankruptcy.

Module 12: Schedule H. Your Codebtors
Schedule H is used to disclose and provide information about any individuals or entities who have co-signed or guaranteed the debtor's debts. These individuals or entities are known as "codebtors" or "cosigners."

Module14: Schedule J. Expenses
The primary purpose of Schedule J is to provide a comprehensive breakdown of the debtor's monthly living expenses. By itemizing these expenses, it helps establish a clear picture of the debtor's financial obligations and standard of living.

Module 15: Statement of Financial Affairs for Individuals Filing for Bankruptcy
The Statement of Financial Affairs (SOFA) verifies answers previously provided in the Bankruptcy Schedules. It also follows the money, accuracy and detail is required.

Module 18: Summary of Schedules
The Summary of Schedules requires calculation of all categories.