Function

• Online bankruptcy advice can provide consumers and small businesses with information on the types of bankruptcy permitted under the law, qualifications for filing bankruptcy, court procedures, filing fees, regulations and time frames. Many private companies also offer "bankruptcy" kits containing forms and instructions for filling out and filing bankruptcy paperwork. Additionally, official bankruptcy court websites typically list official regulations, contact information for court clerks, downloadable forms and instructions for pro se filers.
  
  

Geography

• Although federal law establishes the rules and procedures governing bankruptcies, the exact qualifications for filing bankruptcy and the process by which you must file your paperwork varies by jurisdiction. While some websites offer state-by-state summaries of laws and procedures, much online bankruptcy advice is general in nature and does not apply to all jurisdictions and situations.
  
  

Benefits

• Online advice can be a low-cost (and often free) alternative to an attorney consultation for individuals or business considering bankruptcy. Since legal fees can cost on the upward of $300 per hour, free Internet-based information can provide bankruptcy-seekers with basic information they need to make an informed decision on whether or not to seek counsel. Additionally, online bankruptcy advice websites can provide much-needed reassurance during stressful proceeding and can help clients prepare for meetings with their attorney and creditors.
  
  

Misconceptions

• While individuals in most circumstances can file bankruptcy without an attorney, business must obtain the services of an attorney to bring a bankruptcy case before the court, explains the U.S. Bankruptcy Courts. Likewise, even though online bankruptcy advice websites may provide sample forms on which bankruptcy-seekers may prepare their own filings, unless these documents come from an official U.S. Bankruptcy Court or licensed attorney, they may not be valid.
  
  

Warning

• The accuracy of online bankruptcy advice varies widely. Persons seeking online bankruptcy advice should evaluate their information sources carefully and verify the credentials of the information's author to ensure that he or she is qualified to provide legal advice. As such, individuals using the Internet as their definitive source for legal research should turn to the official bankruptcy court website for their jurisdiction. These official websites typically end in ".gov."