The process of filing for bankruptcy can be wrought with stress and emotion for your clients, not to mention full of paperwork and information gathering for your law firm. Instead of doing things the old-school way, bankruptcy software speeds up the process, ensures accuracy, and helps everyone stay on the same page throughout the course of the filing.
What is Chapter 13 bankruptcy?
Chapter 13 bankruptcy is for individuals who are unable to pay their debts. This method allows the debtor to agree to a repayment plan and is only for people who have a regular income. They pay off their debt in installments throughout the agreement period, between three to five years.
During this repayment period, the bankruptcy protects debtors from being contacted by creditors who are trying to collect. Chapter 13 differs from a Chapter 7 bankruptcy, which involves the liquidation of assets for a debtor to pay off what they owe.
Why bankruptcy software is important for bankruptcy attorneys
These cases are often pretty straightforward, but there are lots of details and documents to manage at your law firm. You also have to worry about communicating and supporting your bankruptcy clients, who likely have never done this before.
A bankruptcy software makes it all much easier, for both you and your bankruptcy clients. Debtors can easily upload all their information into the cloud-based system, calculators automatically compute important numbers, and the time you spend on the case is tracked. A quick summary of the case’s progress is easily viewed in a dashboard.
Without Chapter 13 bankruptcy software, you’ll be handling all the details over the phone, in email, or on paper, which can take a lot longer to file and resolve.
How the NextChapter Chapter 13 Package can help
NextChapter offers a comprehensive Chapter 13 Package for bankruptcy attorneys, which gives you access to all the features you need to file and manage these cases online. You can access everything on the cloud, so you can work from anywhere and on any device.
The Chapter 13 Package includes:
- Calculator: Make updates to plan length or treatment right on the page, and show the debtor’s monthly income from Schedule J right by the total plan payment.
- Plan Editor: Speed up data entry and ensure accuracy with the plan editor and save your progress anytime. You can also save multiple versions for case updates or amended plans.
- Time Tracker: This tool tracks your time spent on a case and records your billable hours.
- Receipt Printouts: Show clients all details of their payments right in the system.
Everything is customizable so you can meet debtor and court requirements. The Chapter 13 Package helps you serve your bankruptcy clients with more efficient tools while streamlining your practice workflows. All you have to do is add the Chapter 13 Package to NextChapter for $250 per year. Find out more about getting started here.