Bankruptcy; Don’t Go It Alone

Over 1 million new cases of bankruptcy were filed in the United States last year. Due to the poor economy, high unemployment rates, and increasing credit card interest rates, many consumers are finding themselves in over their heads when it comes to debt. They may struggle with making monthly payments, be dealing with medical expenses due to an illness, or recovering from the loss of a job. When the financial burden gets to be too much, many choose to file bankruptcy to start over. A bankruptcy filing is best left to a bankruptcy attorney, due to complex form filings and deadlines.

Even the US Courts to not recommend attempting to handle a bankruptcy on your own. The Federal Laws of Bankruptcy are complex and fraught with legal roadblocks and loopholes. If the process if not followed exactly, the bankruptcy can be thrown out, or important debts can be missed. You may be required to undergo credit counseling and will face an endless amount of questions about your finances and personal habits. Creditors will also attempt to negotiate terms with you and if you are not careful, these terms may only benefit the creditor.

A bankruptcy attorney will handle the paperwork, answer questions on your behalf and handle any persistent creditors who keep calling. They will act as your representative in court and know when to object when the questions asked are too invasive or unnecessary. Usually a bankruptcy attorney’s fee is only a portion of what the debtor would have lost if they’d incorrectly attempted to file bankruptcy on their own.
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