Personal Bankruptcy Questions

If you’re considering bankruptcy as a solution to your debt problems, you may be thinking about how to file bankruptcy without a lawyer.  Well, if you try to proceed without legal counsel, you would be making a big mistake.

You should already know that declaring personal bankruptcy is a big financial step that should not be taken lightly.  In fact, you should discuss the situation thoroughly with a lawyer before deciding that bankruptcy is suitable for you.  Without doing this, you could be making the wrong move which could have a big negative impact on your finances for years to come.  You should look at all of your options and think about alternatives to bankruptcy before you make a final decision.

However, choosing a lawyer to help you file bankruptcy isn’t just about deciding whether bankruptcy is right for you.  The process itself is complex, and it has become more difficult with the recent changes in the bankruptcy code.  These changes were intended to force consumers to prove that they need bankruptcy because they cannot afford to pay their bills.

This means there will be much more paperwork in order to prove your income and expenses.  There are many details and technicalities which you need to be aware of in order to get the best results possible.  Obviously, a lawyer is better prepared to do this than a layperson.  A bankruptcy lawyer in particular makes a point of keeping up with all the latest developments in bankruptcy law (which is a bigger deal than you might think).

So despite what your friends and relatives may be telling you, going through the bankruptcy process without legal counsel is simply not a good idea.  If it was ever a feasible option, this changed with the law that Congress passed in 2005 reforming the bankruptcy statutes.

You may be scared because of the possible expenses of hiring a lawyer to help you with your bankruptcy case.  You should keep in mind, however, that chapter seven bankruptcy tries to get rid of your debt altogether, so this should make it easier for you to pay your lawyer.  You would hate to go through the process only to fail and not get your debts eliminated by the bankruptcy court.  Having a successful outcome and then a good financial life after bankruptcy really does require legal counsel.