Ready to take the plunge

[catwhisperer]

OK, we're ready to start filing our Ch 7. Have to have it in by the 31st of July before the next judgment hearing to avoid that mess. Anyhow, we are going pro se but were wondering if anyone knows about bankruptcy petition preparers - almost like tax preparers. Not the online things - does anyone know of somewhere where you can find local people that do this. We're not going to mess with an attorney - we have no confidence in them based on our recent experiences. Is the NOLO book good enough?

[anonymuse]

How complicated is your case? Are you trying to save assets (house, car)?

[catwhisperer]

We are renters, 1993 car that we want to shoot anyhow. Only complication is that my business is a subchapter S corporation - all profits and losses flow through to us. Business is barely holding on anyhow but because it is a corporation it is protected. I am no longer taking a salary from it until it pays back its own debts, my husband is a Real Estate Agent and all of our income is now from his commissions. Only quirk is that he could do well during the summer months but then be totally dry in the winter - most would know that so we average our income. We are now what they consider no asset, that's what 2 attorneys have already told us.

[anonymuse]

I have the NOLO book, and think it is great;however, I don't recall how much it gets into BKs involving businesses.

[catwhisperer]

The business really should be no issue. We have 3000 shares of stock at $0 par value. The business is worth nothing, only to me. The business not doing well is what caused the bankruptcy so no trustee is going to see any benefit to even trying to touch it, it owes more money than it is worth. Our only concern remains that the trustee in this area is known as being "strict" but we have nothing to lose - what are they going to do, tie us up and burn us at the stake?

[Minnymouth]

If your going to file pro se, try using NOLO books and then having a paralegal look over your paperwork before it's filed.

Just remember when you file pro se, ITS YOU, that's responsible for EVERYTHING and lack of knowledge of the bk system, can really cost you in the long run.................

[catwhisperer]

I guess that is the question - where do you find paralegals that do BK petitions?

[spongenotbob]

I guess that is the question - where do you find paralegals that do BK petitions?

I've looked at a LOT of petitions... without question, the worst, sloppiest, and generally most disasterous petitions I've seem come from BPP's.

Either get a very good attorney, or do it yourself. You'll be glad you did.

PS: The business thing may not be as simple as you think. You really are at a disadvantage pro se - I think the whole BK system (trustees, etc) really doesn't like the fact that you're pro se - it's designed for attorney-to-attorney.

Best regards,
- spongenotbob

[anonymuse]

http://bestcase.com/ has a free download of software for lawyers (you can't buy it as an individual). You answer series of questions in a wizard with excellent help screens to answer the questions. The only issue is that it prints DRAFT all over the printouts. But you could use that software and review your answers based on the Nolo book to have a pretty good idea of how things should be filled out. Then you would need to transfer the numbers to new forms.

They don't replace a lawyer, but do give you a great start. And where you can't answer, you know what questions you need to bring up with a lawyer/paralegal.

I wish there was a magic answer. Personally, even though I feel fairly confident about the paperwork and the BK process, I finally decided to get a lawyer since it was worth it to me to spend $1100 to make sure I didn't do anything to screw up and lose my house.

[catwhisperer]

About filing pro se, I used to be a tax preparer, and a pretty good one if I may say so. Finished top in my class for proper forms filing and have been doing taxes for over 20 years. We have no house or car worth beans to worry about losing, our personal possessions aren't worth beans either. Business they probably can't touch because that is a separate entity. I do appreciate the feedback about filing pro se - keep it coming.

[spongenotbob]

About filing pro se, I used to be a tax preparer, and a pretty good one if I may say so. Finished top in my class for proper forms filing and have been doing taxes for over 20 years. We have no house or car worth beans to worry about losing, our personal possessions aren't worth beans either. Business they probably can't touch because that is a separate entity. I do appreciate the feedback about filing pro se - keep it coming.

Sounds good. The main thing you miss by not using an attorney is "local knowledge". Each court - and each trustee - has radically different personalities and perspectives on various issues. If you don't know the ins and outs of your local jurisdiction, it's possible something will snag you somewhere along the line.

Having said that, it sounds like you'd be a good candidate for pro se. But do all your research on the business side of this before you file. The UST (US Trustee) really has enormous powers and once you file - you can't "unfile".

Very best to you,
- spongenotbob

[catwhisperer]

Sounds good. The main thing you miss by not using an attorney is "local knowledge". Each court - and each trustee - has radically different personalities and perspectives on various issues. If you don't know the ins and outs of your local jurisdiction, it's possible something will snag you somewhere along the line.

Having said that, it sounds like you'd be a good candidate for pro se. But do all your research on the business side of this before you file. The UST (US Trustee) really has enormous powers and once you file - you can't "unfile".

Very best to you,
- spongenotbob

A Ha! That is my biggest question - can they "take" the business. We're not filing business bankruptcy because (a) we cannot afford it (b) the business can over time pay off it's debts. We hear this trustee is a bear. I've heard that sometimes a trustee will appoint an attorney - I sure hope if they do that THEY pay for it. Running away to Canada still sounds good!

[gacreditguy]

catwhisperer, I agree with the others here that you would be a good candidate to file ProSe. I would only suggest to you not go it alone.. Keep looking and find a good attorney that you can trust. One wrong move can get your case kicked out. I personally read over numerous cases on pacer that were closed because the filer (who filed ProSe) did not get one or two items in at the right time.

[krobin02]

Just a bit of pro-se encouragement here...

I filed pro-se and was discharged and closed without problems.