Bankruptcy Basics - Chapter 7 Personal Bankruptcy shows consumers or shows document preparers how to help consumers start over with a clean financial slate. This foundation course introduces learners to:
Like our other online courses, "Bankruptcy Basics - Chapter 7" is completely self-paced. The time needed to complete the course varies according to individual learning styles. This course does not include bankruptcy forms. Bankruptcy forms are readily available as free downloads on the Federal Bankruptcy websites.
After completing the Course Registration Form below, you will be sent a Thank You email with a payment feature. You can pay with a debit or credit card through paypal. Tuition for this course is only $149. After payment is made, you will then be directed to the first page of the online course - Bankruptcy Chapter 7. Please remember to save the link. If you navigate away from that page, the link will disappear. If you have any questions, please do not hesitate to contact us - 800-515-0496 - firstname.lastname@example.org. Learn more about other available FALDP online courses, and please read About our FALDP online courses for information about our policies.
Learn more about FALDP membership here.
Bankruptcy Petition Preparers
Many people file for Bankruptcy “Pro
se”, that is, without a lawyer. A “Bankruptcy Petition Preparer”
is a non-lawyer who assists people by preparing their Bankruptcy
documents according to the court’s standards and guidelines.
Because “Bankruptcy Petition Preparers” are not lawyers they
cannot provide any legal advice. By law, “Bankruptcy Petition
Preparers” are considered to be “debt relief agencies” and help
people file for relief under the Bankruptcy Code.
Top 3 Reasons People File for
1. Medical Expenses
Data consistently shows that the top reason people file for bankruptcy is medical debt. And, bankruptcy filers who filed bankruptcy for medical debt had some sort of health insurance. This is contrary to the pervasive myth that only the uninsured face financial catastrophes due to medical-related expenses.
2. Reduced Income
Companies are cutting down on their expenses; and for many employees, this results in major pay cuts and reductions in bonuses. The end result to employees can include bankruptcy.
3. Job Loss
Even if there’s a substantial severance pay, job loss can quickly deplete one’s savings and assets.
Chapter 7, also known as “liquidation bankruptcy,” is usually what people think of when someone mentions bankruptcy. Under Chapter 7, the trustee sells all of the debtor’s nonexempt property in order to wipe out almost all of the debtor’s financial obligations. Here is what happens when you file chapter 7 bankruptcy:
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