It’s unfortunate that this day had to come. You’ve used all your resources up, whether it be credit card debt or loans. You don’t know what to do at this point. You consider filing for Chapter 7 bankruptcy. You’ve heard it’s the most common, fastest, and simplest form of bankruptcy. You just want to get it done with and get it out of the way. You may think of hiring an attorney to would make things more complicated. However, it’s typically the opposite case. Hiring a bankruptcy lawyer can help you with two big parts of the whole battle, the paperwork, and the knowledge.
There are many mistakes that people make when filing for bankruptcy pro se (on your own) in filling out paperwork. The first being that they don’t protect their property. You must list the proper exemption to keep an item of property that you don’t want to lose. Examples of this include a vehicle or something you’ve inherited. Another mistake made is not filing the required documents. This can make the court outright dismiss your case. You may have a long federal packet and sometimes there are local forms you have to fill out as well. Another mistake often made is not taking the required education courses. You may have to do a credit counseling course from an approved provider and complete a financial management course before even filing for bankruptcy. Many people filing for bankruptcy pro se don’t file the proper certificates which may cause a dismissal of the case.
Before even getting to the filing part for bankruptcy, there are other things you must be aware of. You may not have the full knowledge of bankruptcy to understand what bankruptcy can and can’t do for you personally. An example of this would be if you thought bankruptcy wipes debts such as student loans. This is untrue, declaring any type of bankruptcy doesn’t remove your obligation to pay your student loans back. You may not even know about alternatives that you could take to avoid filing for bankruptcy in general. Your lack of knowledge may cause you to file for the wrong chapter. An example of this would be not wanting your house to be foreclosed. In this scenario, chapter 13 bankruptcy may be your best option. If you have little income and no assets you’re trying to protect, then chapter 7 bankruptcy may be the better option. If you file incorrectly then it could cost you your assets or it may not wipe all the debts you hoped that it would.
You are not alone in what you’re experiencing right now. It can be extremely overwhelming. Many go through it though. You need someone on your side who has experience and can guide you to the right solution. You’ve struggled enough. Now it’s time to have someone help you lift the weight off of your shoulders. Filing for Chapter 7 bankruptcy may not even be your best option. Justin Myers Salt Lake City chapter 7 bankruptcy attorney is here to help you choose the best option for your circumstances. He has years of experience and will get you on the right track. You can reach him by phone at 801-505-9679 or fill out this contact form.