Need an Expert?
Why attempt something as important as bankruptcy without consulting an expert? Many people who file their own bankruptcy case end up costing themselves in the end. Their case gets delayed or even denied. In some cases, chapter 7 bankruptcy petitions end up being referred to a chapter 13 bankruptcy, simply because the debtor (you) did not understand changes in the bankruptcy law.
The bankruptcy lawyers and attorneys found on this bankruptcy attorney referral website have agreed to provide an initial consultation absolutely free. Take advantage of the opportunity to visit with a bankruptcy attorney today!
The Best Bankruptcy Advice?
Of course, the best advice is to consult an attorney. If you seek to file your own bankruptcy, you may be opening yourself up to certain common mistakes that many others make. These mistakes can cost you valuable time and may result in your bankruptcy petition being denied. With recent changes in the bankruptcy law the best advice may be to NOT file your own bankruptcy.
Tempted to File
Your Own Bankruptcy?
It is a common thought - file your own bankruptcy and save the attorney fees. There are, however, many common pitfalls when people try to file bankruptcy on their own. The most common mistakes people make when they file their own bankruptcy petition is omitting creditors, forgetting exemptions, not listing property, underestimating living expenses and perhaps the worst one of all - transferring assets just before filing.
A bankruptcy trustee can recover assets transferred within one year (or longer in some states) of filing personal bankruptcy. This could lead to your bankruptcy petition being denied. These include - concealing, transferring or destroying assets and making a false oath on the schedules.
Knowing the Bankruptcy Law changes of 2005
If you seek to file your own bankruptcy, you need to read and research the changes that occurred with the bankruptcy law of 2005. Some notable changes included a "means" testing. If you file a chapter 7 bankruptcy you must pass a "means" testing to determine if you qualify. You also must attend credit counseling classes. Perhaps least known of all - you must live in a state for two (2) years in order to use the exemptions of that state.
If you are tempted to file your own bankruptcy, here are some tips: Don't ignore pending lawsuits, don't run up your credit cards, take out new loans or a cash advance, don't liquidate retirement funds without consulting an attorney first, don't transfer personal property out of your name, and do not withhold information from your lawyer. The best advice may be - don't attempt to file your own chapter 7 bankruptcy or chapter 13 bankruptcy without consulting an attorney.
Remember, the lawyers listed on our site will meet with you for free. The initial consultation is at no charge.
Filing Your Own Bankruptcy
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