Filing Bankruptcy by Yourself


A catastrophic event happened in your life, you and your wife got divorced, you had huge medical and hospital bills that cannot be covered by your health insurance and you lost your job for some reasons. Your debts started to rack up every month, lending agencies started calling you at home urging you to pay your debts. You start to feel the pressure all around you; you cannot sleep at night thinking about all your financial problems. You tried to find ways to repay your debts but just cannot cope with it. You finally found yourself with little or no money at all. If you are in this kind of situation probably the best choice for you is filing bankruptcy by yourself.

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The root of all your problems is money and you do not need filing bankruptcy to be expensive. Make filing bankruptcy by yourself easy by knowing a few basic knowledge about bankruptcy, its laws and process. You do not need to have a degree on the subject of bankruptcy, just get familiar with it so you can start filing bankruptcy by yourself.

Learn what is bankruptcy, the advantages and disadvantages of it can help you decide if you want to even file bankruptcy, plus it can give you an idea on whole new alternatives that can even help you in your financial situation. Bankruptcy gives the consumer a legal right to declare an action of being unable to pay for his debts, thus, discharging his debts. You just have to remember that filing for bankruptcy affect your credit report that can affect your future employment, obtaining new credit. Make sure to file bankruptcy in the best possible light.

There are two types of bankruptcy, chapter 7 and chapter 13. You can choose which ever you want as long as you make sure you meet the qualifications to be eligible either in a chapter 7 or chapter 13. Chapter 7 type of bankruptcy can be filed for simple cases that you can do by yourself without hiring a bankruptcy lawyer. The idea in a chapter 7 is straightforward that is all properties of the consumers will be liquidated except for exempt properties. Liquidated properties will generate an amount of money that will be distributed to all the creditors of the consumer in exchange that part, if not all debts, will be discharged. Chapter 13 is a more complex type of bankruptcy. It is the reorganization on how the debts could be paid by the debtor. An agreement will be made between the debtor and creditor side, the debtor should prove that he has sufficient disposable income to steadily cover his debt for a period of time, which is a very long time but still reasonable to the creditors.

To save time and money for financially troubled people is a must. There are ways you can achieve this. The fast way is to hire a lawyer that specializes in bankruptcy law. The time that it would take you to file bankruptcy might be very fast but remember this can cost you a lot of money.

I suggest hiring a petition preparer or a bankruptcy lawyer to prepare your documents is the best way to file bankruptcy. You pay the flat fee and do it all yourself from that point. This way you will not pay much and you will not have to dwell so much time preparing your papers by yourself. For more information on how to file bankruptcy affordably, visit the link below.


Oakland Bankruptcy Attorney

Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.

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