BANKRUPTCY REVIEWS

Chapter 7 Bankruptcy Software

The risks of using bankruptcy software

We generally do not review bankruptcy software providers. There are several reasons for this, foremost of which is that most so called bankruptcy software are not authentic software, but rather, repackaged blank bankruptcy forms rebranded as software. Take a look around for bankruptcy software and almost everyone you encounter is not real software. They are better classified as bankruptcy kits since kits are a collection of blank bankruptcy forms with instruction manuals.

These days, anyone can download the blank bankruptcy forms for free from their nearest bankruptcy court, so it is pointless to pay for a bankruptcy kit. Do yourself and stay away from bankruptcy software, not matter how slick their advertising is.

You can tell easily tell that a "bankruptcy software" is just a kit of blank forms by their price. They are all priced around $40 to $50. Again, stay away from them.

True bankruptcy software is very difficult to create and can take two or more years to develop. The only real bankruptcy software are the ones made strictly for lawyers. We have included a couple of those in our reviews, for the benefit of our lawyer readers.

Bankruptcy documents are very complicated to prepare and require the assistance of an expert. Lots of people first start out trying to prepare their own bankruptcy using forms they download from the court web sites but they soon run into complication with the sheer mountain of paperwork. After wasting several weeks, they give up and hire a lawyer or a full-service bankruptcy preparation company. 

If you were to prepare your bankruptcy with software, you are really only using the same blank bankruptcy forms that you downloaded from the internet. The only difference is that you paid for it from a clever web site rather than got it for free from the court. If you manage to get authentic bankruptcy software, you still have to deal with unfamiliar bankruptcy law and you still have to make sense of it all. When you are done preparing the forms, you can never be sure that you did not make a silent mistake that can deny you a discharge.

This is why you are always better off using a trained bankruptcy preparer. A good bankruptcy preparer would have prepared hundreds of bankruptcies or even thousands and so would be well versed in how to get it done right the first time. If you use one of the full-service bankruptcy companies we have given a 3 or 4 star rating or above, then you can be pretty certain that it will be done right.

There is no doubt that you will save money at first with blank form or even with bankruptcy software but in the end the savings will dissappear and you could be stuck with thousands of dollars in undischarged debts that should have been discharged. The reason for undischarged debts are mostly due to not knowing the laws and procedures that enable you to discharge many secured debts, as well as making poor decisions regarding reaffirmations.

A word to the wise! You have heard the saying, penny wise pound foolish. Save a penny with bankruptcy software, lose thousands of dollars in undischarged debts. The $100 you will save at first with software is not worth the aggravation you will encounter, and worse yet, the risk of your ruining it all in the end.


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