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Lots of people who are taking into consideration submitting bankruptcy wonder whether they could do so without a lawyer. After all, this is a time when their financial circumstances go to a lowest level. They may not have the ability to imagine paying any more money. When even buying groceries feels like a pressure, it is alluring to move on without a lawyer.
Never think that you could not afford a lawyer. Our attorneys at McKoon, Williams, Atchley & Stanley, PLLC always offer a free consultation and understand how difficult your situation is. A solution can always be found.
The Advantages of Filing Yourself
Despite which state you stay in, you can legally file bankruptcy without a lawyer. If you do not have a lot of / expensive property, do not own assets, as well as your credit score situation is rather simple, you could be able to get away with submitting your own bankruptcy papers. The good news is, the forms for bankruptcy filing are standard. Just comply with the Federal Rules of Bankruptcy Procedure. The court clerk will let notify you about any schedules that have not been completed properly.
The Risks of Filing Yourself
Bankruptcy documents seem simple enough, especially considering that the changes to bankruptcy legislation in 2005. It is extremely tempting to do it on your own. You could feel that you have nothing to lose, or you may simply be the type of individual that usually does his or her own job.
Sadly, there are numerous mistakes that people make when filing. The largest issue is leaving a creditor or some property off the paperwork which could produce big issues. Also if you believe that type of financial debt can not be released, you can be mistaken.
If you deliberately leave a person off because you wish to pay back the debt you owe them, the court will not to have a complete picture of your debt obligations. It is important that the court recognizes every little thing there is to learn about your case in order to aid you effectively assign your financial debt.
When residential or commercial property is left off the schedules, it is most often because individuals forget. Right here are a few of the more common neglected things:
- Retirement funds
- Tax funds
- Trust funds
- Interest in a probate estate that is pending
- Partnership interest
- Lawsuits that have been filed
If you are considering filing bankruptcy without an attorney, you may have heard that you can obtain a legal assistant or petition preparer to complete the kinds for you. These people are not authorized to offer lawful recommendations. Rather, all they can do is complete papers. If you hire a request preparer, this individual ought to not address any kind of legal inquiries. Do not allow him or her to authorize a file. Do not pay them for court fees.
Filing for bankruptcy is stressful and challenging. The choice as to whether to make use of a lawyer must be taken really seriously. You will certainly have lots of concerns throughout the process, and also if you make a mistake, your case can be dismissed immediately. Because of the long-term legal as well as financial consequences, you need to strongly take into consideration getting sound legal suggestions.
Chattanooga Bankruptcy Specialists from McKoon, Williams, Atchley & Stanley, PLLC will help you understand your options. Our services range from debt consolidation to representing your interests in bankruptcy court – and everything in between. Once you contact us, our experienced lawyers will guide you during this difficult time to help you make the best choices possible given your circumstances. We will show you what legal options you have to shield you from harassing creditors and inform you about all the benefits and drawbacks of each option you may want to consider.