Becoming a bankruptcy petition preparer is a huge responsibility. It is important to understand the Federal Bankruptcy Rules for your area. You'll want to master your division and then expand to market other divisions after you're familiar with local procedures.
Marketing is strict for bankruptcy. The use of the word "legal" or "paralegal" are not allowed in your advertisements. You must use the title of Bankruptcy Petition Preparer.
The maximum allowable fee a bankruptcy petition preparer may charge is $200. There are some divisions in which the bankruptcy petition preparer fees are limited to as low as $75. It is important that a Bankruptcy Petition Preparer be fully aware of the maximum fee he or she may charge in the particular division where the debtor is filing. Overcharging may mean you must return all the money paid. In other instances, the violation may get you suspended.
When preparing a bankruptcy package, ensure you are not overcharging. The United States Bankruptcy Court maximum rate a Bankruptcy Petition Preparer may charge is $200. In some states, the maximum may be lower. Currently, California is set at $125, $150, or $200 depending on the district. North Carolina is set at $80, Michigan is set at $100, and Wisconsin is set at $75. Depending on the state you live in determines the maximum a Bankruptcy Petition Preparer may charge or their services.
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Susan M Signer Services provides Bankruptcy Petition Preparer training which includes assistance with your first pro se filer. You may call us at 386.898.5015.
Begin your Bankruptcy Petition Preparer training by clicking below. Ensure you complete Step 1 and 2.