Authorities do not declare bankruptcy unless all procedures and requirements have been met. Bankruptcy is a serious matter in which even minor errors are not tolerated. Thanks to technological advancements, modern attorneys can use bankruptcy software. It is a web-based app that allows attorneys to manage bankruptcy online. Continue reading below for more. 


11+ Bankruptcy Software

1. Nextchapter

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Rating: 5/5

Price: $79/month

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2. Bestcase

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Rating: 4.4/5

Price: $600/month

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3. Cincompass

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Rating: 4.8/5

Price: $75/month

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4. legalPRO

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Rating: 5/5

Price: Custom

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5. Ez-Filing

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Rating: 5/5

Price: Custom

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6. Lawsyst

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Rating: 5/5

Price: Custom

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7. BankruptcyPRO

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Rating: 4.5/5

Price: Custom

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8. JubileePRO

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Rating: 4.9/5

Price: $59/month

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9. Clio

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Rating: 4.7/5

Price: $39/month

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10. Upsolve

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Rating: 5/5

Price: FREE

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11. Arkcase

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Rating: 5/5

Price: FREE

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12. Bigtime

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Rating: 5/5

Price: $10/month

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What is Bankruptcy Software?

Bankruptcy is a process where your financial institution helps you pay off the debts you failed to pay over a certain period. Bankruptcy includes multiple critical procedures involving documents, financial accounts, and other crucial data you need to evaluate. Since overlooks are inevitable, especially with traditional methods, experts developed bankruptcy software to help you, attorney, process, and file bankruptcy effectively and efficiently. Bankruptcy software offers advanced features and functionalities to help you acquire all the data you require and review documents and law standards to ensure that a particular individual needs to undergo bankruptcy. With this tool, you can obtain accurate data analysis and improve decisions.

Benefits

Manual processes aren’t going to cut it during these days. Manual processes are still needed but can’t handle the piles of documents. With bankruptcy software on hand, you can reduce irrelevant manual procedures. You can check, review, collect documents, and arrange files within a single platform. That way, you can save time, money, and effort. 

Features

Features and functionalities are factors you need to prioritize before buying a membership fee. Some platforms may be giving empty promises, plus software can be pretty expensive. That is why you will need to research the software’s capabilities first. Multiple websites write about the pros and cons of the software, giving you information to help you choose the best software for your business. Several platforms allow free versions and trials giving you a chance to test them firsthand. Below are features recommended by most users:

  • Access Controls/Permissions
  • Audit Trail
  • Bankruptcy Case Management
  • Collaboration Tools
  • Data Storage Management
  • Billing & Invoicing
  • Calendar Management
  • Client Management
  • Business Dashboard

Top 10 Bankruptcy Software

1. Clio

Clio includes accrual accounting, automatic billing, asset accounting, calendar management, client portal, and more valuable features. Clio has annual revenue of $101 million and 500 employees.

2. Bestcase

Bestcase from Stretto includes billing and invoicing, docket management, email management, expense tracking, and more innovative features. Stretto has annual revenue of $68.6 million and 254 employees.

3. Bigtime

Bigtime includes accounting, approval workflow, budgeting/forecasting, billing portal, project management, and more contributive features. Bigtime has annual revenue of $14.9 million and 103 employees.

4. Cincompass

Cincompas includes electronic filing, legal forms library, task management, time tracking, and more helpful features. Credit Infonet’s annual revenue ranges between $10 and $50 million, and the company employs between 10-100 people.

5. Lawsyst

Lawsyst developed by ITsec includes conflict management, trust accounting, license/contract management, case notes, and more advanced features. ITsec has annual revenue of $9 million and 50 employees.

6. Nextchapter

Nextchapter includes bankruptcy case management, calendar management, forms automation, client management, and more valuable features. Nextchapter has annual revenue of $7.6 million and 28 employees.

7. Upsolve

Upsolve includes bankruptcy screener, QA automation, text messaging, customer support automation, and logical features. Upsolve has annual revenue of more than a million dollars and more than ten employees.

8. Arkcase

Arkcase includes conflict management, calendar management, docket management, expense tracking, and more advanced features. Arkcase has annual revenue of $0.4 million and three employees.

9. JubileePRO

Jubilee is the cloud-based bankruptcy petition preparation and filing platform from LegalPRO Systems. It includes document management, critical date alerts, exemption management, and more contributive features.

10. BankruptcyPRO

BankruptcyPRO, developed by legalPRO, is a bankruptcy form filing, preparation, and case management software that includes all of the fundamental tools required for your bankruptcy practice.

FAQs

What is bankruptcy?

Bankruptcy is an incident where a particular debtor fails to pay their debt over the given time. When such things happen, the financial institution evaluates the files and factors that caused bankruptcy and offers methods to pay off debt. The debtor’s assets and financial income will then be assessed and generate a way to pay off debt.

Why is software beneficial in handling bankruptcy?

Due to technological advancements, new methods and solutions are generated to help you ensure operational efficiency and improve marketing strategies. Bankruptcy is not an easy task. With the software on hand, you can collect, manage, record, and review forms within a single platform. With this solution, you ensure quality assurance and flawless bankruptcy management.

Why is bankruptcy management important?

Bankruptcy is not declared based on shaky assumptions. All critical financial movements and details must be evaluated to declare bankruptcy and ensure that a specific individual is bankrupt. As a result, high-quality bankruptcy management is crucial to carry out procedures flawlessly and avoid oversights that can lead to a negative chain of events.

Bankruptcy involves multiple files, procedures, processes, operations, and more. It undeniably gives attornies a hard time handling all of them flawlessly. Fortunately, you can use bankruptcy software, a solution you can use to process everything in one place. You can reduce document generations and manual processes. Ensure operational efficiency and customer satisfaction with bankruptcy software.


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