Going bankrupt is surely the worst phase of anyone’s life. But, getting out of such a phase is even more difficult. Filing for the bankruptcy seems like a way out. But it is important to consider the situations first. What if you don’t need an attorney at all? The first thought that generally crosses our mind, is whether we have the money to pay for the attorney. This is why lot of people tries to file for bankruptcy without actually having an attorney. My neighbor had actually done something like this. He was too flustered and distressed about hiring an attorney and filed a case without one. The result was that certain services had befooled him by charging for a huge package of bankruptcy forms which can actually be procured for free from the bankruptcy court’s website.
Problems one may get into
There can be a lot of potential pitfalls if one decides to file his case without getting hold of a bankruptcy attorney. Modern court system always warns people of the danger of filing for bankruptcy without the help of lawyers. The main problem is that the technical rules and regulations are highly complicated in bankruptcy cases. So, if a person is not aware of them, they can really pose as a threat to him. There is a lot of work to be done before a bankruptcy case is even filed. There is a lot of preparation involved in when to file, how to file etc. Mistakes in this complicated paperwork can cost you your case. We do not have thorough understanding about this, so bankruptcy attorneys have to be hired.
Different rules for different cases
All bankruptcy cases aren’t the same. So, if you feel you can pull off a case by reading a few bankruptcy journals and law books, then you are living in a bubble. Fighting a case requires adequate experience and expertise. Moreover, the approach on every bankruptcy case is different. It is only within the caliber of a lawyer to fight it out for you. The strategies that a bankruptcy lawyer develops for a particular case, is formulated keeping in mind rules and laws related to national bankruptcies. Along with particulars of local bankruptcy practice, one has to take in consideration state and district laws related to it. The myth that exists is that you may lose everything if you file a case with the help of an attorney. But, actually the case is quite different because are lawyers are meant to protect your assets and also protect you from exemption laws.
Also, other things like where you live and where your assets are, are also important considerations. These considerations cannot be made by us, as we hardly know anything about them. Lawyers would be the best option as complicated sets of rules would be best handled by them. They know what to answer where and how. So, my experience would say that one should definitely go for a lawyer in bankruptcy cases.