Debtoraid.com

[Susie703]

What is the name of your state? Virginia.
Does anyone have any experience with companies like Debtoraid.com which prepares all the Chpt 7 forms within 1 day. You register online, enter creditor info. on their questionnaire. Sounds easy like they return everything back to you ready to be filed with the court. I can't handle the bankruptcy books, and software.

[Ladynred]

You can probably get by with that, but its not recommended and some bankruptcy courts have decided that these forms places are promoting bankruptcy fraud. You are going to need to know EXACTLY what's in your schedules, where and WHY - will you be able to do that ??? There is just no way anyone could PROPERLY do an entire CH 7 filing in ONE DAY. It takes people days and weeks to pull together ALL of the necessary information needed to do it RIGHT.

Have you pulled your credit reports ??
Are you sure you have ALL the creditors and collection agencies listed ??
Are you certain all your assets are listed ? What values are they going to use for your 'stuff' ??? What do you have listed for living expenses and what is your DISPOSABLE income each month ??

[Susie703]

Good things to think about. I will need to pull my credit report. The rest should be easy as I will have no income after I move next month unless I can find a job. I rent. My only "asset" is a 1987 Oldsmobile and two 401 K's. As for my furniture, it is of minimal value. By the time I file, I will have either sold or given away most of my furniture due to my move. What do you mean "listed for living expenses"? Anything else I should think about?

[Ladynred]

By listed living expenses you have to list all of your normal living expenses, it goes against your income and lets the Trustee see that you have no money left over to pay your creditors.

[epbihs]

I did use them and they did just want they said they would. They prepared all the papers - but their preparation is only as good as you make it. We did not have the money to get lawyer - but we don't own a house or have but our car as an asset. So it wasn't very complicated. If you have more at stake it is much better to get a lawyer.
All the papers were filled out but like I said - their website is great - they even have the information so you can figure out what exemptions to use. but what is scary is that YOU have to figure it out - they don't give advice. I think we did ok - but it's still not over and I am nervious as to whether we did it right. You have to put in all the information and it took me a few days to finally do it. You have lots of papers to gather - but you can take your time. Then when you finally submit it --- it takes them a day to get it back to you. It looks very official but I was asking the courts in our area questions and they were helpful -- but if you want peace of mind get a lawyer - I suppose the money is always an issue cause that's not peace of mind - but as to getting through the bankruptsy - it helps to have someone who knows what they are doing. If you have a very easy situation - don't have lots of assets then it's not too bad. I don't know if this helped but you really need to be careful whatever you decide.