Bankruptcy Paralegal Services

Bankruptcy helps people who are unable to pay their debts; Bankruptcy helps in providing a fresh start by liquidating assets to pay their debts or by creating a repayment plan. Bankruptcy laws protect the financially troubled businesses.

Why Bankruptcy Services?

Data shows that the few main causes of bankruptcy are medical expenses, student loan debt, unemployment and divorce. Since 2005 bankruptcy cases has been increasing with time and especially after the pandemic the numbers for bankruptcy have increased tremendously, where statistics shows more than 2 million bankruptcy petitions filed under the head of student loan and medical costs. People have gone in financial crisis, bankruptcy won’t discharge student loan or reduce income from divorce etc but bankruptcy will discharge the struggle to pay high credit cards bills, unsecured debt etc.

People who file for bankruptcy are those whose living standards are basic beyond their means and sometimes the main causes of bankruptcy is twisted and complicated.

Why Bankruptcy Paralegals?

With the advancement of time law is evolving and hence the legal arena needs an expert skilled in laws which will be effective and helpful to the people. One such law is Bankruptcy Laws, where the bankruptcy paralegals comes into play, they prepare bankruptcy documents quickly before the case sits for a long term unheard or unprocessed.

GSB LPO SEVICES helps by providing assistance with bankruptcy cases with its expert Bankruptcy paralegal Services. Our Bankruptcy paralegal follows the laws and regulations under 11 U.S.C & 110.

Clients Questions To Be Refered To The Attorney

1. Whether the clients current debts are legally discharged or not.
2. Whether the client should enter into a rechargeable agreement with or without creditors.
3. Whether the client will be able to maintain/keep his home and personal vehicle.

Client Data Required For Bankruptcy Protection

According to Law a Bankruptcy paralegal cannot legally represent the client in the bankruptcy case as per the given law of the state. A bankruptcy paralegal can only prepare the document for bankruptcy cases.

1. Full Name
2. Mailing Address
3. Household Size
4. Other contact information
5. Type of Bankruptcy plan to file
6. Approximately monthly income
7. Schedule of income and debts

How Bankruptcy Is Filed Steps Involved

It is mainly filed under two chapters:

Chapter 7 of Title 11 in the U.S. bankruptcy code controls the process of asset liquidation

1. File petition- 3 to 4 months appoints trustee- discharge.
2. Document gathering
   • Client/Paper Questionnaire along with checklist: Proof on income, photo id, SSN no, recently files tax returns.
   • After collecting documents petition is prepared- Petition is same of almost of every attorney.
   • Follow-up with client if documents not received.
   • Filing of petition- review by client- sign- sent scan copy- then file via software naming “BEST CASE”.
   • Once petition is filed court appoints Trustee and fixes date of 341A (Meeting of Creditor). It’s a meeting between debtor and creditor. We need to set up the meeting via Zoon in-between debtor and creditor.
   • After 341A, trustee may ask for extra documents- he will send document list which needs to be provided.
   • Certificate of Debtor Education- FMC (Financial Management Course) (After case filing).
   • CCC- Credit Counseling Certificate to be taken by agency. (Before case filing).
   • Tentatively after 2-3 months, chapter 7 is discharged.
   • We don’t pay anything in chapter 7.

Chapter 13 U.S. bankruptcy code controls the Non-liquidation case

We say debtor is pursuance to your previous EMI he will pay in restructures way and continues to pay the current EMI.

1. Same documents as of chapter 7, additionally, a plan is prepared which is called as /chapter 13 plan- for restructuring of loan.
2. Trustee will negotiate/object the plan then we need to file motion.
3. Motion to extend time, motion to incur debt (to but some new immovable or movable during bankruptcy), motion to sell, motion to retain tax refund, motion to avoid lien (to avoid judgment lien or junior lien).
4. Objection to claim- IRS (Internal Revenue Service).
5. Mean test- last 6 months income is analyzed if he is under mean or not

Documents Required Filing Under Chapter 7 & 13:

• Intake/Client sheet- Online intake sheet.
• Check List.
• Template.
• FMC and CCC.
• Motion sample (7 to 10 motions).
• Chapter 13 plan.
• Google voice set-up.

Virtual Paralegal Bankrupcty Services

We at GSB LPO Services provide assistance through the virtual medium by the following

1. Clients interview
2. Diligent searches
3. Prepare petition and schedules.
4. Obtain documents and follow up
5. Prepare chapter 7, 13, local forms and other assistance related to bankruptcy.

We provide virtual paralegal services which help in saving time and money. Our virtual paralegals are available when our clients need them.

1. We prepare petition by obtaining all of the necessary documents and pertinent information and the petition is prepared within 24-28 hours.
2. We provide professional staff experienced as bankruptcy paralegals for firms and chapter 13 trustee’s office.
3. Our bankruptcy paralegals execute the job with a positive attitude and a desire to help you grow your practice.
4. We assure that the client qualifies under bankruptcy law by researching.
5. Our paralegals have a healthy legal mind, the ability to work with confidential budgets, excellent organizational skills and the ability to meet deadlines.
6. We help keeping bankruptcy cases on track, track deadlines for every foams and ensures that the client’s documents are submitted before time.

We hope that the above-mentioned brief introduction about our firm has gained your eye, should you have any questions our offices are always open for you. Please feel free to contact us.

Send your file at our Dropbox: [email protected] and shoot an email at [email protected] and your assignment will be done.