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A bankruptcy petition preparer is a person who is not an attorney or an employee of an attorneys who prepares a document for filing in the United States Bankruptcy Court for another person. Bankruptcy petition preparers are authorized in the bankruptcy code under 11 U.S.C. §110, [ 1 ] but are limited in the services that they provide direct to ...
As of 2021, it is the third largest institutional tax preparation service provider in the United States and second largest in Canada. [14] In July 2023, NextPoint Financial, Liberty Tax's parent, filed for bankruptcy in Canada, and Chapter 15 bankruptcy in the United States. [15]
In that year, the Bankruptcy Reform Act was signed into law by President Bill Clinton. Among other provisions, it banned the use of the word "legal" in any form, to describe the services provided by non-attorney document preparers, and also specifically created the term "bankruptcy petition preparer."
Filing for bankruptcy without legal representation requires careful thought and preparation. While it can reduce costs, the complexities of bankruptcy law can be challenging and risky.
Opt for a bankruptcy attorney with local expertise, well-versed in both bankruptcy laws and the specific procedures of the local court where your case will be filed.
“When dealing with uncertainty, preparation is key,” said Ashley Morgan, a debt and bankruptcy attorney in northern Virginia and founder of Ashley F. Morgan Law.