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Can I Declare Bankruptcy Without A Lawyer?

Todays Date: December 13, 2018

As can be expected in a downward trending economy, more and more people are choosing to voluntarily file for bankruptcy. To assist the people in this situation, this article was created to explain some of the aspects of bankruptcy.

Bankruptcy is when someone is unable to repay their debts for whatever reason. This debt can either be considered unsecured (medical bills that you are unable to repay) or secured debt (you still own the automobile).

Unfortunately, since the bankruptcy process is very complicated, it is imperative that you enlist the services of a lawyer like the ones from Noonan Brown Law. Failure to do this can cost you dearly in the long run.

One of the interesting things about bankruptcy is the fact that you can be involuntarily forced to declare bankruptcy. That’s right; a debt collector can take you to court to collect on outstanding debt.

It is important to know that there are two chapters of bankruptcy. The first, Chapter 7, means that you will have to totally liquidate all of your holdings. The second, Chapter 13, means that you will have to submit to a repayment plan.

As the law requires you to use an attorney, you must enlist one if your wish to file for bankruptcy. Even if you could proceed without an attorney, you really would not want to.

In the past, the attorney only played a small role in the proceedings. However, now that the law has been rewritten, the lawyer must play a significant role. As an example, the lawyer must now affirm that all of the legal forms you fill out for the court are correct and truthful.

As you can imagine, the cost of claiming bankruptcy has gone up, with the increased costs mostly going toward your legal counsel. For the increased fees, your attorney actually becomes more like your partner in that he is also legally responsible for ensuring you provide truthful responses to the court.

As this legal proceeding is very complex and emotionally draining, we highly recommend you contact an attorney sooner versus later.

The Dayton Attorney Guide was designed to assist people learn about the various aspects of the legal realm. These aspects range from whether you need a lawyer to form a will to Finding a Bankruptcy Lawyer.

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