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What is a Virtual Bankruptcy Assistant?
It is a trained professional who works for debtor bankruptcy attorneys virtually from their home office. Actually, the concept is not new. Attorneys and their staff have been taking home work from the office and working at their home computer for many years. Additionally, attorneys have hired temporary employees to perform various assignments for many years. These types of temporary jobs not only included a paralegal replacement for an employee who was on vacation or on medical leave, but also runner services (someone who filed documents with the court), office equipment repairs and upgrades, training instructors, deposition services and temporary personnel to work on one specific large case.
The distinct difference between an employee and a virtual bankruptcy assistant is that he or she is an independent contractor that owns their own service company; just like the temporary service, computer tech or runner service. A virtual bankruptcy assistant also owns their own computer system and software programs which eliminates high overhead costs for attorneys.
Why would an attorney need the services of a virtual bankruptcy assistant?
First of all, due to the state of the economy, mounting medical bills, the increase in foreclosures, loss of employment, the shipping of jobs overseas and other factors, there is more work than most law firms can handle. And the numbers are growing in record proportions every day. See http://www. abiworld. org for current statistical data.
Why doesn't an attorney use their in-house staff for petitions?
Because preparing bankruptcy petitions is not the only thing a debtor law firms does. Secondly, no law school or paralegal program at the present time teaches the skills of preparing well detailed Chapter 7 and Chapter 13 bankruptcy petitions. Instead, law schools and paralegal programs concentrate their curriculum on business bankruptcy law, not consumer; which makes up the bulk of petitions that are filed. And now, with the changes in the bankruptcy law that were implemented in 2005, the need for professional training in the area of preparing well detailed bankruptcy petitions has dramatically increased. Not only does the court now require more detail but attorneys must charge higher fees because of the time factor in gathering documents that verify statements from the debtors regarding their assets and liabilities.
Due to these increased costs, attorneys nationwide are finding it essential to reduce their overhead in order to maintain a profit. The best way to do this is to hire virtual bankruptcy assistants who are highly skilled and professionally trained in preparing Chapter 7 and Chapter 13 bankruptcy petitions.
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