Is There Any Way to File For Bankruptcy Without an Attorney?

If you are considering filing for bankruptcy on your own, because you really do not have any more money to spare due to the debts you have amassed, then you had better re-consider your decision carefully.

Although hiring a bankruptcy attorney will add up to more expenses, you will find that in the long term this will turn to your advantage, and that it is a wise investment for your future.

Bankruptcy proceedings are intricate enough as it is, in addition during the past years many changes have been made by congress relating to the bankruptcy code, making it all the more difficult for any private individual to succeed. Although filing under Chapter 7 is relatively straightforward, it has become all the more taxing with these new laws.

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First of all, you are submitted to a test to determine whether or not you can in fact pay your debts. You are exempt from this test only if your salary is lower than the average state's income. If it is higher, then you will be seriously tested, to decide whether you are apt for bankruptcy.

The judge will require all proof of incapacity to pay off debts, and you will also have to hand over financial papers describing your income and expense. This is a tedious and complicated job, for you must not leave any documents out, as you may incur in penalties if you do. This is where an attorney can help you; he or she will plan and organize the best possible strategy when preparing for bankruptcy, in order to turn this process to your best possible advantage.

Many may declare that they went through bankruptcy just fine without any legal help. However, this also depends on their particular case and how far back their bankruptcy was filed.

Bankruptcy laws have changed drastically since the Bankruptcy Reform Act in 2005, rendering the proceedings all the more intricate and technically difficult to face up to. It is difficult enough for lawyer to keep up with the judicial system, let alone a private individual!

This is why nowadays, it is fundamental, to seek professional advice for all matters that refer to bankruptcy filing. After all, if you are lucky this will be the only time you have to file for bankruptcy, so it is best to proceed in the safest possible way, to obtain the best possible results from your bankruptcy.

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