What Is A Virtual Bankruptcy Assistant?

Since I am frequently asked, "What is a Virtual Bankruptcy Assistant ?", I thought it would be appropriate for me to explain what a VBA is. Essentially, a Virtual Bankruptcy Assistant, or VBA, is a well-trained professional who provides bankruptcy assistance for attorneys practicing in bankruptcy law. Although the range of services among VBAs could vary, most prepare Chapters 7 and 13 bankruptcy petitions, including the required schedules. Also, VBAs possess the education, experience, skills and qualifications to prepare the Chapter 7 means test, Statement of Affairs, Chapter 13 Plan, assist the attorney's clients with document collection services, verify the required credit counseling session and conduct due diligence services related to a debtor's bankruptcy case.

Moreover, CM Paralegal Services recognizes that preparing a petition is more than typing a debtor's information into forms. A well prepared Chapter 7 or 13 petition requires the preparer to use critical thinking skills which will prevent errors and potentially cause a dismissal of a bankruptcy case. Additionally, not only have we prepared a substantial amount of consumer bankruptcy petitions, but we also have trial experience in the event a debtor's bankruptcy case becomes complex.

If your client is facing an adversarial proceeding or a bankruptcy contested matter we can draft the complaint or answer, motions, conduct legal research and write legal memorandums which supports your client's position. If you are a bankruptcy attorney, hiring CM Paralegal Services as your VBA is a quick and simple process. You can contact us today at 314-723-5633, by email at cmparalegalservices@live.com, or visit our website. We can provide you with a fast and free estimate that is certain to reduce your firm's costs. Many attorneys find that working with a VBA is an efficient way to increase their firm's profits. Contact us today and we will  provide you with a copy of our fee schedule, including our attorney start-up package and client intake forms. There is no start up fee, but we do require a signed Service Agreement.

Credit Report Should Be Obtain Prior to Filing Bankruptcy

Once consumers have consulted with a bankruptcy attorney and have decided that filing a Chapter 7 or Chapter 13 bankruptcy petition is the best alternative for debt relief, they often do not have a clear assessment of their financial situation. Too often I observed clients come into the office with handwritten notes which attempted to describe their personal debts. Most of the time the client's handwritten notes only provided the creditor's name and the amount owed, or as best as an estimate they could remember. The truth is in order for a client to know the true nature of the number of creditors they owe and the amount owed, they will need to order a credit report from each credit reporting agency; Experian, TransUnion and Exquifax.

Under the Fair Credit Reporting Act (FCRA), each of the consumer reporting agencies are required to provide consumers with a free copy of their credit report each year. Once the clients reviewed their reports they often became alarmed to see what creditors they had actually owed and the amounts because in most situations the debts were old and the client had simply forgotten about them. And since it is a requirement for consumers filing for bankruptcy protection to report all their debts, obtaining a copy of the credit report prior to preparing and filing the petition is a good method to ensure all debts are included in the petition. In addition, this saves the client additional legal costs such as having to file a motion to reopen a bankruptcy case after a discharge, or amending schedules to include a forgotten creditor. Consumers can obtain a free copy of their credit reports by visiting www.annualcreditreport.com. However, they are only entitled to one free copy from each of the agencies a year, otherwise they will have to pay by calling or visiting each credit reporting agency's website below.

Consumer Reporting Agencies

Equifax 1-800-685-1111
Experian 1-888-397-3742
Transunion 1-800-916-8800

If you are an attorney, CM Paralegal Services can assist your clients with bankuptcy document collection. We will work closely with your client during this process to ensure that client has the required documents which are necessary for petition filing. Please contact us by telephone at 314-723-5633, visit our website at http://cmparalegalservicesmissouri.yolasite.com, or send us an email at cmparalegalservices@live.com.