Bankruptcy can be a confusing and complicated thing to face. However, for those who are experiencing bankruptcy, there are Do-It-Yourself bankruptcy kits to help guide you through this process.
When looking for a Do-It-Yourself bankruptcy kit, an individual is first going to have to make sure that the information provided within the kit is valid in their state of residence as well as up to date. Generally, information found in Do-It-Yourself bankruptcy kits will allow users to understand official forms, prepare them for the bankruptcy petition, and help them gather information and documents without the need of assistance from a lawyer.
In most cases, information that will be required when using a Do-It-Yourself bankruptcy kit include all sources of income, wages, commissions, any money collected from retirement plans, public assistance, veteran’s programs, court settlements, child support, and alimony funds.
After properly filling out the necessary information, a person who is filing for bankruptcy using a Do-It-Yourself bankruptcy kit will then be asked to file a personal bankruptcy petition. This petition can be completed online and then printed and filed with the court. Generally, a Do-It-Yourself bankruptcy kit will include some sort of guidelines for filling out this petition.
After filing the petition, individuals will then have to wait to determine the outcome of filing for bankruptcy. In most Do-It-Yourself bankruptcy kits, information about the waiting process and the possible outcomes will be described in full detail.