New Bankruptcy Website to Offer Up-To-Date Resources for Borrowers

Added: (Thu Aug 19 2010)

Pressbox (Press Release) - Borrowers thinking of doing a bankruptcy filing can now turn to BankruptcyBalance.com, a newly launched service portal offering the latest information on bankruptcy law, procedures, and other key aspects of bankruptcy. Run by an experienced team of Bankruptcy Lawyers, the site will serve as a premier resource for businesses and individuals alike who want to learn more about their bankruptcy filing options before taking action.

Bankruptcy filing has increased in recent years as a result of the economic recession. Once only common among companies, bankruptcy is now a viable option for individuals facing financial distress and no longer able to pay their debts. Bankruptcy Balance reaches out to both markets by offering services in personal and corporate bankruptcy, focusing on three of the most common types: Chapter 7, Chapter 13, and Chapter 11.

Besides legal services, Bankruptcy Balance also offers comprehensive guides to the bankruptcy filingprocess, the means test, working with bankruptcy attorneys, and one’s options after filing for bankruptcy. A Learning Center also provides explanations of bankruptcy terms and the U.S. Bankruptcy Code. It also features a news section where updates in bankruptcy filing rules are posted; keeping users up to date on the rules that can affect them.

The site is made to be user-friendly and easy to understand for the average borrower. The updated FAQ section addresses common issues in personal and business bankruptcy filing. A question-and-answer and contact section allows users to contact bankruptcy lawyers and ask their own questions, and even get a online free case evaluation. It also offers a help hotline, available in either English or Spanish, where one can speak directly to an agent.

Also of particular use to borrowers is the bankruptcy filing guide for Chapter 7 and Chapter 13 bankruptcy. The articles clearly explain each chapter and its consequences, and offers tips on everything from choosing an attorney to negotiating with creditors. For mortgage borrowers, it also provides links to loan workout options that can help them avoid bankruptcy and foreclosure, such as short sales, refinance, and loan modifications.

Bankruptcy Balance operates in several areas and features bankruptcy filing information specific to states and cities. Resources are currently available for California, Florida, New York, New Jersey, Washington, Michigan, Texas, Arizona, Colorado, Georgia, and Ohio, as well as major cities in several other states. Users who need particular information can simply fill out forms according to their area, and get a response from an expert in no time.