I first came across the concept of working from home as a virtual bankruptcy assistant (VBA) in 2008, when I met Victoria Ring, who taught me to draft Chapter 7 and Chapter 13 bankruptcy petitions.
In 2001 Victoria was working as a paralegal for a small law firm of two attorneys, when one them approached here about participating in an experiment.
This attorney had noticed that working in the office at the law firm, Victoria would get interrupted every 10-15 minutes while working on bankruptcy petitions, and that these interruptions negatively affected her productivity. Being that the bankruptcy petition is the most important document in a bankruptcy case, these interruptions also greatly increased the risk of human error when entering information into the petition, as well as significantly slowed down the entire process of getting the bankruptcy petitions drafted.
The experiment that the attorney wanted to try was to have Victoria work from home drafting bankruptcy petitions, where she wouldn’t be interrupted all of the time.
In one of the rooms of Victoria's apartment, the lawyer set up a desk, computer, and chair. Over the course of the two days of the weekend, she drafted fifteen (15) bankruptcy petitions without being distracted by phone calls, clients stopping by the office, or other staff members requesting assistance.
The two attorneys were thrilled, and so was Victoria, as when she saw how her newfound productivity benefited the law firm she was working for, she decided to offer the service to other attorneys who would also benefit from the same service.
Over the next 9 months, Victoria ended up with 56 attorneys sending her bankruptcy petitions to draft, and she decided to quit her full-time job for the law firm, and work for herself.
Back when paper fax machines were still in use, Victoria would wake up to find hundreds of pages of Client Intake Forms (CIF) piled up on her fax machine, ready to draft bankruptcy petitions from.
She didn’t know what she should be charging for her work, and initially was only charging $125 per petition she would draft, (remember, this was 2001). While she was still making good money at this rate, she quickly realized that the service is worth much more than that, eventually earning an average of $500 per Chapter 7 and $700 per Chapter 13 petition, and up to $1,000 for complex Chapter 13’s (in 2011 dollars), because of the reputation she developed, and the number of referrals she was getting, which allowed her to “cherry pick” the work she wanted to do, work less, and earn more money.
Victoria’s dream was to live in the mountains of Colorado, so because she was able to work virtually and live anywhere you wanted to, she pulled stakes, left Columbus, OH, and headed for the hills of Colorado Springs, CO, where she was living when I met her.
Victoria decided to teach others to do what she was doing and started a bankruptcy assistant training business, which she did until her passing away from complications associated with Legionnaire’s Disease and Diabetes, in 2011.
Because of her training, I was able to develop my own thriving bankruptcy assistant business, and have continued the legacy by creating 713 Training.
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