money sectionmoney sectionJob loss, divorce or illness can reduce income, and if you're unable to pay your bills, you may consider bankruptcy as a solution to overwhelming debts and creditor harassment. However, there are consequences to filing bankruptcy and limits to how often you can petition the courts for help.
Bankruptcy petition preparers are permitted to operate pursuant to the provisions of the U.S. Bankruptcy Code, Section 110. The U.S. Bankruptcy Code establishes the basic guidelines a bankruptcy petition preparer must follow. These requirements are supplemented by the local rules of individual bankruptcy courts across the United States. The guidelines vary slightly from court to court. A preparer must review both the U.S. Bankruptcy Code and the local rules before beginning work.
Electing to pursue a bankruptcy case is a complicated decision. You need to determine what type of bankruptcy is best suited to your financial situation. You must decide whether you should retain an attorney or represent yourself in a bankruptcy case. Indeed, you may elect to engage a bankruptcy petition preparer to assist you in drafting the documents you need to start the proceedings.
Becoming a bankruptcy petition preparer allows you the ability to provide certain types of services to debtors. Petitions and related documents associated with bankruptcy cases--both consumer and commercial bankruptcies--are complicated. Many consumers want to avoid paying an attorney but do not have the desire to complete these materials on their own. Consequently, bankruptcy petition preparers are in high demand.
