A How to Guide on Filing Bankruptcy


Once you've suffered under crushing amounts of debt, reviewed your options, and decided that bankruptcy is the best option for you, you've got another big decision coming your way--How will you do it? As you may know, you have two basic choices: Filing with a bankruptcy attorney or filing on your own. So, here is some information on both filing by yourself and with an attorney to help you decide which path is right for you?

Doing it on your own may seem like the best thing to do. Isn't doing it by yourself easier and cheaper? Unfortunately, it is not necessarily either. To start the process of filing on your own, you must begin with your own eligibility and assess your own financial situation in order to determine the right chapter to file. After that, you need to attend court hearings, prepare documents, and file your case with the court, all the while managing to follow the strict rules.

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And while all of those tasks sound difficult, the hardest part is actually trying to combat the problems that will inevitably arise in a case.

There are several common mistakes that prevent debtors from getting their discharge. If you have determined that filing on your own is the best option, don't sell yourself short. Do ample amounts of research before jumping in.

Often, a debtor will begin a bankruptcy case on their own but turn to a bankruptcy attorney for help quickly.

Filing with a bankruptcy attorney is certainly the easier option--as long as you've hired a great bankruptcy lawyer to handle your case. Getting an attorney with little or experience or one that charges far below the norm can end up costing you your case.

But, if you hired a great lawyer, he or she can represent you with the court, make sure your case is filed correctly, and field any obstacles that arise. The most wonderful part of it is that the attorney will do the hard work for you. You can simply enjoy your new found freedom.

The reality is that if bankruptcy attorneys weren't needed, they wouldn't exist. It is natural to be unsure if you need an attorney or not--particularly if you feel like you need the least expensive lawyer possible. However, making a mistake when filing by yourself may very well cost you more money--if not your case itself.

Weigh your options and do the research necessary to make the best decision. I know that you won't regret taking the time to save your financial future the right way.


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