How NextChapter Became TurboTax for Bankruptcy
One of the most frustrating aspects of preparing bankruptcies before NextChapter was the double and sometimes triple data entry that was required to fill out every form. NextChapter took on the challenge of eliminating double and triple data entry by implementing a revolutionary linear model which has become its signature web-workflow. Because of this new way of thinking in the bankruptcy space, NextChapter became known as TurboTax for Bankruptcy Attorneys.
  • behind-the-scenes
  • taxes
  • cloud-based
  • credit reports
Janine Sickmeyer
Published on Mar 17, 2017

 

It’s tax season again which means it’s every accountant’s busiest time of year. Before TurboTax the process of filing income taxes was a complete mess. There was no order, no simple approach to completing the task. Once TurboTax came along all of that changed. Filing income taxes became simpler due to a user friendly web experience that guided users through each step of filling out their tax forms. NextChapter has a similar approach to filing bankruptcies and when just getting started in 2013, NextChapter become known as TurboTax for Bankruptcy Attorneys.

 

One of the most frustrating aspects of preparing bankruptcies before NextChapter was the double and sometimes triple data entry that was required to fill out every form. Attorney’s desks would become a chaotic mess of client documents because information from one document might be needed on several forms. NextChapter took on the challenge of eliminating double and triple data entry by implementing a revolutionary linear model which has become its signature bankruptcy web workflow. The linear model NextChapter created allows users to input a piece of information only once but have it be used in multiple places on forms and in our application. Similar to TurboTax, this saves time and energy while simplifying a complex process.

 

In addition to eliminating double and triple data entry, NextChapter can pull in credit report data automatically with the credit report integration feature. This saves our users approximately one hour per case. The attorney or paralegal can receive the credit data directly into the schedules and simply review instead of typing in every single claim. A similar function, the Common Creditors list upload, allows firms to upload a list of creditors and their addresses that they commonly see with their clients so that they don’t have to retype this information for every new case.

 

Another feature NextChapter has which uses its linear model and time-saving techniques is the latest Chapter 13 Package. NextChapter’s Chapter 13 Calculator and Plan Editor pulls information which has already been entered from through earlier parts in the software and adds it accordingly. This reduces the time it takes to prepare a Chapter 13 Plan but allows for flexibility to update it.

 

NextChapter is much like TurboTax in the way that new features are added quarterly to expand the capabilities of our app.

 

We know that bankruptcy season is upon us as we get closer to tax season, so if you’re an attorney or working for an attorney and are looking for better bankruptcy software give us a try! Just like TurboTax, NextChapter is free to try: you’ll only be charged when you’re ready to download or file your petition.