This App Helps Reduce the Stress & Cost Of Filing for Bankruptcy
Rahul Kalvapalle — December 30, 2021 — Tech
References: upsolve.org & wpln.org
Upsolve is an innovative bankruptcy platform created by a Brooklyn-based non-profit organization of the same name that is designed to remove the costs, hassle, and stigma associated with filing for bankruptcy.
The app allows users to answer a questionnaire about their situation, similar to the way many free and low-cost income tax filing apps work. The app then helps users generate the various forms required to file bankruptcy with federal bodies whilst also helping users to apply to have court filing fees waived.
Given that bankruptcy in itself is an extremely stressful situation to find oneself in, the addition of various other expenses, hurdles, and difficulties in the process of filing for bankruptcy only serve to compound the stress and agony, a problem which the Upsolve bankruptcy platform is making strides in addressing.
Image Credit: Upsolve
The app allows users to answer a questionnaire about their situation, similar to the way many free and low-cost income tax filing apps work. The app then helps users generate the various forms required to file bankruptcy with federal bodies whilst also helping users to apply to have court filing fees waived.
Given that bankruptcy in itself is an extremely stressful situation to find oneself in, the addition of various other expenses, hurdles, and difficulties in the process of filing for bankruptcy only serve to compound the stress and agony, a problem which the Upsolve bankruptcy platform is making strides in addressing.
Image Credit: Upsolve
Trend Themes
1. Digital Bankruptcy Assistance - Opportunity for companies to create similar streamlined bankruptcy apps and platforms to help individuals file for bankruptcy with ease and affordability.
2. Non-profit Tech Innovations - Opportunity for non-profit organizations to utilize technology to provide low-cost solutions for challenging issues faced by individuals and communities.
3. Legal Tech Disruption - Opportunity for legal tech startups to enter the market and disrupt existing legal processes, making them more accessible and affordable for individuals and small businesses.
Industry Implications
1. Financial Services - Opportunity for financial services companies to partner with bankruptcy assistance startups to provide additional financial resources and support for those declaring bankruptcy.
2. Legal Services - Opportunity for legal services companies to adapt and incorporate technology in their services, providing more accessible and affordable legal assistance for individuals and small businesses.
3. Non-profit Innovation - Opportunity for non-profit organizations to leverage technology to provide innovative solutions for societal challenges and support underserved communities.
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