NOLO Book: How to file Ch 7 now available!

[buttercup]

I used the 2009 NOLO book to file. It cost me 17 dollars. I read the book first, and anywhere I had a question, I went to the US Bankruptcy website and my district's website. Most questions were answered there. I used the code for my state to declare my exemptions, so that I was sure that I was using the right exemption law.

Anything that needed further clarification, I read through threads here and got my answers.

Although the NOLO book has all of the the blank forms for filing, I used the fill-in-and-print PDF forms at the US Bankruptcy website.

I filed Pro-Se, received a waiver on my BK filing fees (had to attend a separate hearing for that, which was actually worse..more intrusive...than the 341), and already had a ream of paper and full print cartridges (so no expense there).

I did my pre-filing counseling and my after-filing counseling with Springboard, and they waived my fees for those, because my income is below the 150% poverty mark.

I did all the paperwork in one weekend--took about 24 hours total--and filed the following Monday morning. The NOLO book took me step by step through every single blank that I needed to fill in on my paperwork. The printing and making copies (used my printer which has a xerox feature) took longer than filling out the paperwork!

My entire bankruptcy cost me $17 for the Nolo book.

I cannot praise that book enough. My case was a no-asset case with all personal property covered by exemptions. Had my case not been so cut-and-dried--if I would have had a house, real estate, expensive cars, etc--I would have hired an attorney.

But for a case like mine, the least I could hire an attorney for was $1500, and that didn't include any additional hearings that may arise, or contending with adversary proceedings or such.

I think it depends on your particular case as to whether you would benefit from pro-se, filing with the NOLO book. At the very least, EVEN IF YOU HIRE AN ATTORNEY, you should buy this book to explain all the steps in the process, and to educate you on the proper questions you should ask your attorney. I just can't recommend this book enough.

[FinallyBK]

The exemption from Nolo book

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I'm on the 3rd chapter under Types of Exemptions, and from my understanding. the value of hte exemption is given to you in the form of maney if the property is sold...???

One of their examples stated the exemption for a vehicle, in said state, is $4,000. You owe $10,000, and the car is valued at $20,000. The way I am reading the book is that of the $10,000 difference (if sold at that value), $4,000 is your credit towards the exemption and the remaining $6,000 is disbursed among other creditors...

I guess my question is, what does that $4,000 exemption do the the one filing, if anything? Would I receive it back as cash? Would it be applied to anything?

Thanks for understanding that I am new to all of this and maybe just a little clueless...

In this example your exemption is $4000, Car value is $20,000 You owe $10,000 on the car. Once the trustee takes the car and sells it for $20,000 he /she gives $10,000 to the lender to free the car then gives your exemption amount of $4000 to you then distributes the rest of the $6000 to your unsecured creditors. If the value of the car is only $14,000 trustee won't bother selling the car because it only pays you and the lender once sold. In that case you have to reaffirm or reject the secured credit with lender because you still owe $10,000 on it. Hope it helps.

[HHM]

According to me book are always sucks your brain... how about to get online suggestion, help to file bankruptcy. one of my friend filed chap 7 using... service and he is happy with them. You can also try...i am just giving you option, not trying to market their bankruptcy service.

Well, someone with as poor writing skills as you have demonstrated should probably read more books

[elle20905]

Ok... So I came across this forum a few days ago and have gotten alot of valuble information...

Upon seeing it referenced multiple times here, I went to the local library and checked out Nolo's How to file Chapter 7...

I agree with everyone!! It is fabulous!! However, I'm still a little confused when it comes to the exemptions...

I'm on the 3rd chapter under Types of Exemptions, and from my understanding. the value of hte exemption is given to you in the form of maney if the property is sold...???

One of their examples stated the exemption for a vehicle, in said state, is $4,000. You owe $10,000, and the car is valued at $20,000. The way I am reading the book is that of the $10,000 difference (if sold at that value), $4,000 is your credit towards the exemption and the remaining $6,000 is disbursed among other creditors...

I guess my question is, what does that $4,000 exemption do the the one filing, if anything? Would I receive it back as cash? Would it be applied to anything?

Thanks for understanding that I am new to all of this and maybe just a little clueless...

[PdxDavid]

This is great, thank you! I had read about this book a couple of months ago. Actually it was the first place I read "judgment proof". Now thanks to you I have it saved on my laptop. Fast and Easy and the coupon code still worked. I may decide to file later if I have too much headache, and have already considered do it yourself filing.
WaitNSee

Glad it worked for you. Good luck

[WaitNSee]

You can get the ebook for $7.99 if you put in coupon code a416 at checkout. I just tested it to make sure. I used it when I purchased a couple weeks ago.

This is great, thank you! I had read about this book a couple of months ago. Actually it was the first place I read "judgment proof". Now thanks to you I have it saved on my laptop. Fast and Easy and the coupon code still worked. I may decide to file later if I have too much headache, and have already considered do it yourself filing.
WaitNSee

[MSbklawyer]

What is the answer to this question??

The answer is "yes".

On the means test, you look back 6 months. I & J however are current and going forward amounts.

[midnight]

Another was "do we take our expenses 6 mths prior and up to filing Ch 7 or is it what it is going to be after we file?"

What is the answer to this question??

[leena]

I saw the NOLO book and I noticed that it is not great in explaining about expenses. For a below median filer who is using expense estimates for schedule J, really only a good BK attorney knows what is flying with trustees in your district. For an above median chapter 7 filer, again only an attorney is really going to know what is flying with trustees in your district. I wonder how many people have wound up in 13's just because they filed Pro Se.

[calgirl67]

Such as?

I could quibble and say that facts are what is shared by the debtor, it is the interpretation of those facts relative to the law that can be subjective.

As for what is shared by the debtor, these particular questions were about BK Rules, not our personal "facts".

One questions was "if we file Ch 13 and our income increases a year or two from now, what happens"

Another was "do we take our expenses 6 mths prior and up to filing Ch 7 or is it what it is going to be after we file?"

If you could answer them for me, I would appreciate it!

[HHM]

both got important facts WRONG.

Such as?

I could quibble and say that facts are what is shared by the debtor, it is the interpretation of those facts relative to the law that can be subjective.

[calgirl67]

Nolo Chapter 7 book

We have seen 2 different lawyers considering filing chapter 7, both got important facts WRONG.

Both contradicted each other with answers to important questions we asked.

So who knows what? By the way both lawyers wanted close to $4000 in fees.

If we file I will be filing Pro Se using my trusty Nolo book. I can screw it up myself for FREE I don;t need to pay someone 4 grand.

Oh yeah, I would bet $100 they get their paralegal to fill it out and file it. Easy money for a BK lawyer.

[TXCo]

Although do-it-yourself may be alternative solution, I'd rather get an attorney. What is current going rates in your city? Here out in the boon dock, $3200 seems to be the magic number...

[TXCo]

Although Do-It-Yourself may be a good alternative for some, but for me it's little more complicated. I'd prefer an attorney. What is current going rate for Chapt 7? In my city (out in the country), $3200 seems to be a magic number.

[PdxDavid]

You can get the ebook for $7.99 if you put in coupon code a416 at checkout. I just tested it to make sure. I used it when I purchased a couple weeks ago.