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What is the Difference between Chapter 7 and Chapter 13 Bankruptcy, and is it for me?
Chapter 7 in the bankruptcy code is the liquidation of most debts. The only debts you cannot liquidate: student loans (unless they are over 7 years,) taxes of any type, and child support or alimony. These must still be paid. Chapter 7 is the most common form of consumer bankruptcy.
Chapter 13 Bankruptcy requires you to repay certain debts over a period of time established by the court. The debt would be repaid over a two three period, with no finance charges
This kit allows you to file for Chapter 7 or 13 Bankruptcy in the Federal Bankruptcy Court in your area, anywhere in the United States.
Answer to some possible questions about the Chapter 7 and 13 Bankruptcy Kit
If you have come to the conclusion that filing for bankruptcy is the only way out, this computerized online Bankruptcy kit will save you time and money. The enclosed software will take you to a specific password protected web site. This kit is always up-to-date since it is an online product, unlike books or software that can quickly become out dated in a short period of time. You will save the documents to your hard drive, prepare them online or offline, then print them out for filing. You will have access to the Bankruptcy kit for one full year after registration, with unlimited access during that time. Windows 95 or higher and Internet is required to use this kit.
It usually takes 30 to 60 days for your bankruptcy to be discharged. When you first file your case with the court (which could be as soon as today with this online kit), the court will contact your creditors immediately and inform them you have filed for bankruptcy . At that point, your creditors, by law, must stop any collection efforts they are pursuing (including harassing phone calls and letters). The locations of all of the Bankruptcy Courts in the united States are included in the Online Chapter 7 Manual.
In addition to the cost of this kit, you will need to pay the court $200 to $225 in filing fees.
The Chapter 7 & 13 Bankruptcy Kit is a web based product. Internet access and any standard web browser required.
The on-line Bankruptcy kit contains electronic versions of all of the necessary legal forms, plus a comprehensive On-Line Chapter 7 Manual explaining the filling process.
Toll-Free Help Line.
Available with the kit is a Toll-Free Help Line from Monday thru Friday, 9 a.m. to 5 p.m. EST. While we cannot give you legal advice, we can help you with questions about the kit.
System Requirements.
A computer is necessary to use this kit. Your computer must be an IBM PC or
compatible, MS-DOS or any version of Windows, and Internet access is required to use this product.
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