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How to File for Chapter 7 Bankruptcy
 
 
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How to File for Chapter 7 Bankruptcy [Paperback]

Stephen Elias (Author), Albin Renauer (Author), Robin Leonard (Author)
4.7 out of 5 stars  See all reviews (98 customer reviews)

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How to File for Chapter 7 Bankruptcy + Chapter 13 Bankruptcy: Keep Your Property & Repay Debts Over Time + The New Bankruptcy: Will It Work for You?
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Editorial Reviews

Amazon.com Review

In these times of massive credit card debt and stagnating incomes, filing for bankruptcy has become the only relief for thousands of people. The information in How to File for Bankruptcy is so complete that a person can file virtually on his own, without needing to hire a lawyer. By no means does the book encourage filing for bankruptcy, but it will help anyone in serious financial trouble determine if bankruptcy might be a sensible course to take, and examines what kind is appropriate for different individuals. All of the necessary forms are included, complete with explicit directions. Like all Nolo Press titles, this is a straightforward, no-nonsense book of useful advice and specific guidance, written in clear, easy-to-understand language. --This text refers to an alternate Paperback edition.

From Library Journal

This book focuses almost exclusively on personal or so-called "straight" bankruptcy under Chapter 7 of the Bankruptcy Code, and excludes detailed consideration of Chapter 13 repayment plans. The authors, all lawyers associated with Nolo Press, provide step-by-step information necessary to determine whether or not, and how, to file. Included are worksheets, examples, and illustrative filled-in forms. Although not stated, this volume is apparently intended by Nolo to replace Janice Kosel's perennial Bankruptcy: Do It Yourself , which has a California emphasis; however, it will complement her Chapter 13: Federal Plan to Repay Debts (Nolo Pr., 1987. 3d ed.). The present work is more up-to-date than Benji Anosike's How To Declare Your Personal Bankruptcy Without a Lawyer (Do-It-Yourself Pubs., 1983), and although less comprehensive than the excellent Consumer Bankruptcy Law and Practice (National Consumer Law Ctr., 1988 . 3d ed.), which is intended for lawyers but useful for laypersons, this is a best buy to support a commonly asked legal reference question. Recommended for public and academic libraries.
- Merlin Whiteman, Indiana Univ. Sch. of Law, Indianapolis
Copyright 1990 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.

Product Details

  • Paperback: 528 pages
  • Publisher: NOLO; 15 edition (October 15, 2008)
  • Language: English
  • ISBN-10: 141330897X
  • ISBN-13: 978-1413308976
  • Product Dimensions: 10.7 x 8.4 x 1.2 inches
  • Shipping Weight: 2.7 pounds (View shipping rates and policies)
  • Average Customer Review: 4.7 out of 5 stars  See all reviews (98 customer reviews)
  • Amazon Bestsellers Rank: #436,528 in Books (See Top 100 in Books)
    #65 in  Books > Nonfiction > Law > Business > Bankruptcy

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Customer Reviews

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Average Customer Review
4.7 out of 5 stars (98 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

 
198 of 208 people found the following review helpful:
5.0 out of 5 stars Excellent and accurate resource, September 21, 1999
By A Customer
This book has been my light at the end of the tunnel. It took me approximately 4 wks. to research the book and understand it so I didn't make any mistakes in filing inaccurate information but once I did the paperwork (all through the mail) it only took 1 wk. before the creditors meeting was set for 3 wks. later and the entire chapter 7 should be done within about 3 months. I was the only one present at my meeting without an attorney but my meeting as well as the 15 people before me only took 5 minutes each in front of the trustee. None of the creditors in any of the cases showed up except Sears in other cases but they just noted the information for their records. This is possible to do by yourself and for approximately $175.00 administrative and filing fees. No other costs have been incurred and I am on my way to a new start. Thank you so much!
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63 of 63 people found the following review helpful:
4.0 out of 5 stars Very helpful resource, April 24, 2007
By Joomi Lee (World citizen) - See all my reviews
This review refers to the 13th edition of the book, which does cover the new bankruptcy law revision of 2006. Please read the editorial and customer reviews as to why this book was so helpful.

The author does a good job explaining how to file your own bankruptcy "pro se" (which means you are your own attorney and responsible for finding the answers to your own legal questions.)

At the time the 13th edition was printed, the author didn't know if any of the state bankruptcy courts would grant an indigent filer relief from the bankruptcy filing fee. This is because there was a difference between the federal agency that created the exemption document and the agency that says such requests can be granted. Apparently, this difference of opinion has since been resolved. In my state, Washington, the judge did grant me exemption from filing the court fee, a savings of over [...].

My bankruptcy was a pretty straightforward chapter 7, even though I had taken out a business license as a sole proprietor. As I had no clients and no business income, I could go ahead and file as an individual.

The author commends the reader for having taken charge of their financial crisis and having made the difficult decision to file for bankruptcy. It would also have been helpful if he'd included a few helpful tips on emotional and mental preparation. For example, people under stress tend to forget common sense advice like: get enough sleep, exercise, and healthy food. Organize all your financial records in a quiet and neat environment, etc. Write down what you've done and what you need to accomplish. And so forth.

In my case, because I could have been better organized, I ended up paying two times an amendment fee because I forgot to include all creditors on my mailing matrix and other related forms.

(As a side note, many credit card companies own their own credit collections agencies with completely different names. To be on the safe side, list both the original creditor and the "collection agency" that they supposedly "sold" the debt to in your bankruptcy forms. However, when totaling the debt, do not count the same amount twice. On your mailing matrix, include both the original creditor and any collection agencies they have sold their debt to. This will cover your rear end. If you list only the collection agency and not the original creditor, you might be responsible for paying off the debt because the original creditor wasn't listed in your bankruptcy forms.)

Student loans are usually not discharged but you should go ahead and list them anyway so the judge knows your total debt load.

Most filers choose to hire an attorney. I was one of three people who chose to go "pro se" out of over 30 filers. That really surprised me. My meeting with the trustee lasted less than five minutes.

Just because someone goes with an attorney doesn't mean that attorney will be complete and thorough. I witnessed two attorneys who did not properly prepare their clients for potential questions the trustee asked, all of which are described in this book in a special listing. In my case, the trustee did not ask all the questions listed in the book but I was sure glad the author listed them so I could be prepared in case he did choose to ask them. Did those people get their money's worth? I don't know.

The creditor's meeting is when you can tell the trustee if there have been any changes since you first filed for bankruptcy. Since this meeting is recorded now is the time to tell them. In my case, I reported assets I had failed to list (hobby supplies, etc.), assets that had been stolen from my home this month, and a car I no longer owned as it had been auctioned off by a towing company.

The two biggest reasons people file for bankruptcy are medically related and poor credit card usage. Both those reasons fit my profile. (Actually, I was very good at using a credit card as I remember charging them to the limit.) I cut up all my credit cards and now use only my debit card, cash, or checks. I now have a financial budget and feel like a load has been lifted off my shoulders.

The only reason I have for repairing my credit rating is if I choose to buy a house. At this time I don't have any plans for doing so. However, for those who do want to improve their credit score, your best bet is to see if your local credit union or bank will give you a secured credit card, which will only allow you to "charge" amounts that you have placed in a special account tied to the card. It is a combinations debit and credit card. You can only "charge" what is in your secured account but you get the protection and benefits of a credit card.

The new law states that filers must take a pre and post budget class. These cost money in Washington state.

If you choose to go "pro se" but hire a typist to prepare your documents, you are still responsible for all the information contained in the forms.

Beware that your filing is public knowledge. I was surprised at the number of predatory lenders that sent me mail immediately after I filed. There was also one attorney who sent me a solicitation letter. You must shred all these letters for your own good.
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31 of 31 people found the following review helpful:
5.0 out of 5 stars This book saved me attorney's fees! Worth its weight in gold, September 16, 2004
By Anne (Colorado) - See all my reviews
I can't say enough wonderful things about this book!

6 months ago I was contemplating bankruptcy. I searched for a book to help me and decided to buy this one. Honestly, I figured I'd read it, be more confused than ever and have to hire an attorney.

That's NOT what happened. I took a weekend and studied every page of this book and took notes. I filled out and filed my bankruptcy petition on my own. Today, I attended my creditor's meeting. Now, in just 2 months, I'll receive my discharge. All WITHOUT a lawyer!

Filing bankruptcy without a lawyer is more time consuming, but the money saved is worth it. Just take your time and study this book and you'll be fine.

Thank you, Nolo. Buying this book was the best thing I've done this year.
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Most Recent Customer Reviews

5.0 out of 5 stars How to Tame the Wild Horses of Financial Ruin
I remember my dad saying Wild Horses couldn't make him file bankruptcy. I never really knew where that expression came from or the relevance, but I knew what it meant. Read more
Published 16 days ago by Kelly Irish

5.0 out of 5 stars Chapter 7 Bankruptcy by NOLO and Stephen Elias
I'm more than thrilled with this purchase. I researched it first and found it has everything I need. I couldn't have made a better choice. Read more
Published 18 days ago by Roberta Lessard

4.0 out of 5 stars As long as the bankruptcy is uncomplicated, this is a great resource
As a bankruptcy attorney, I see people spending money to file Chapter 7 bankruptcies all the time that don't need to file at all. Read more
Published 29 days ago by Warren Norred

5.0 out of 5 stars Excellent Reference for Lawyers!
Excellent book! Packed with great information. As a non-bankruptcy attorney, I use this as a reference whenever a Chapter 7 bankruptcy question comes up.
Published 1 month ago by Sky King

5.0 out of 5 stars Imagine that You're Out of Debt
There are a lot of legitimate reasons why people get in debt. Medical bills your insurance doesn't cover. Read more
Published 1 month ago by Ronald Hammond

3.0 out of 5 stars how to file
It was alright, I was expecting something all little more current. My fault for not checking it out better. The delivery was great, got it right away.
Published 2 months ago by Lisa Bittle

5.0 out of 5 stars A Book for When You Can't Rob Peter to Pay Paul Anymore
Tired of living in debt? Then maybe this is the book for you. Have you been putting off filing for a Chapter 7 Bankruptcy? Maybe now it's time you looked into it. Read more
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5.0 out of 5 stars If You're in Financial Trouble, this Book Could Help
A few years ago I got myself pretty deep in debt, because I forgot that you had to actually pay back what you charged on your credit cards. Read more
Published 2 months ago by Jana Greer

5.0 out of 5 stars Informative... good for the studious type! Not for Chapter 13.
I will make this very short and sweet: If you are considering going bankrupt in 2010 and have never been bankrupt before than this a must buy! Read more
Published 4 months ago by Sofia Hernandez

5.0 out of 5 stars Great book, saved me lawyer costs..
Due to loosing my job, and bills I am having to file Chapter 7. This book has everything laid out for me, and gave me the pros for chapter 13 versus 17. Read more
Published 4 months ago by Kristen B

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