Bankruptcy is a viable option for those who have encountered insurmountable financial difficulties. While Chapter 7 and Chapter 13 are regarded as a last resort, the fact remains that bankruptcy is a good way to deal with uncompromising creditors. Like other judicial matters, it is possible to handle a bankruptcy without an attorney. However, filers should consider these facts before embarking on a pro se bankruptcy.
Bankruptcy Petitions are Lengthy
Unlike minor legal issues that can be handled alone, a bankruptcy is a difficult undertaking. The filing includes the petition and a variety of supporting information, and gathering the necessary documents can be difficult and time-consuming for those without legal knowledge. However, bankruptcy Attorneys in Topeka KS can help.
The Petition Must be Free of Mistakes
The bankruptcy petition must list all of the filer’s debts and assets. Leaving a creditor or an asset off the supporting schedule can get a filer into serious trouble with the bankruptcy court, and it can keep them from realizing the full benefit of Chapter 7 or Chapter 13. In some cases, errors can cause the petition to be denied.
Petitions Must be Legally Accurate
Most states have property exemptions that allow filers to keep most of their household belongings, vehicles and the home itself under some circumstances. Here, legal knowledge is crucial. If a filer does not take advantage of all possible exemptions, he or she can face fraud accusations or lose some of the relief a bankruptcy can provide.
Attorneys Can be Costly, But It’s a Worthwhile Investment
As mentioned earlier in this article, it is possible to file a bankruptcy petition alone. Many people file pro bankruptcy because they believe they can’t afford to pay the fee required by bankruptcy Attorneys in Topeka KS. However, most lawyers offer payment plans, and once a filer has a plan in place, they will find it easier to afford the cost of filing. By hiring an attorney instead of going it alone, a debtor can come out ahead as far as his/her finances are concerned. For a free consultation, visit the office of Joe Wittman today.