Do I Need A Bankruptcy Lawyer?
Can I go bankrupt myself or do I need a bankruptcy lawyer? This is a question many people wonder when considering filing for bankruptcy. There are a lot of changes to the bankruptcy laws so depending on your situation, it might be a wise thing to do. However, there are a few situations where you don’t really need one.
Here’s a tip that might help you decide whether using a bankruptcy attorney is a good idea for you. Did you know that many law firms will give you a free initial consultation? That’s right. You can sit down, talk about your situation and get your questions answered before you pay a dime. It doesn’t hurt to call a law firm, explain your situation, and ask to talk to someone (and make sure it’s a free first consultation)
If you have zero assets, very little income and are in a situation where no family or spouse is involved, you can probably file for Chapter 7 bankruptcy yourself. This is called “pro se”. It is a fairly simple process.
However, if you have family, dependents, and a lot of assets, you probably want the help from a law firm that specializes in this type of arrangement. If you own a home you would be foolish to try and do this alone.
And, if you are filing Chapter 13 bankruptcy you need a bankruptcy lawyer to assist you.
How Can I Afford To Pay For A Bankruptcy Lawyer?
There are also cases where your lawyers fees will be paid out of the proceeds of your bankruptcy. In this case your creditors get a little less money and the firm representing you gets paid from the disposition of your assets.
Considering this information, we suggest you at least talk to a bankruptcy lawyer about their services, and your options.
To answer the question, “Do you need a bankruptcy lawyer?” You won’t know for sure until you have a consultation and talk to them. You might even consider talking to a few bankruptcy lawyers before you make your final decision. If you are going to use a bankruptcy lawyer make sure it’s a person you can relate to.
