It isn’t for everyone and it can be very complicated. It would be really easy to make mistakes if the person tried to get through the process alone.
The bankruptcy process used to be a lot simpler, but it has become much more complicated since 2005. The person would still need to figure out what type of bankruptcy to file. But, in addition, they now also have to determine whether they are even eligible for a chapter 7 bankruptcy. If they must do a chapter 13 bankruptcy they need to determine the length of their plan. Further, they would need to come up with a plan that could be confirmed in a chapter 13 case. Statistically, less than 1 percent of “pro per” chapter 13 cases ever reach confirmation.
When Should Someone Hire An Attorney?
There are many self-help books and law libraries from which someone could get information including the forms and orders to go through the process. It would require a great deal of time to research, read through that material and then prepare the paperwork, and at the same time they little or no insight regarding how a bankruptcy would be handled by the many different trustees of a given district.
An attorney provides value to a bankruptcy by saving the person who was struggling with all these other issues, whether medical, financial or otherwise, from having to spend time troubling about trying to figure out the bankruptcy forms and how to complete the forms accurately. It would be helpful in saving them the time of having to go through the process of figuring things out and it would also help them by having somebody who was experienced in that area to help them through questions they might have.
What Do Bankruptcy Preparers Do?
Bankruptcy prepares are people whose function it is to type up the information that is provided by the client. This is all they are allowed to do by law. In some cases it might make sense to engage their services, but we have found that this is often the exception rather than the rule. Bankruptcies today are more complicated and it does not help that bankruptcy preparers are unable to give anyone legal advice. As a result, debtors go to court without proper preparation or guidance, and representation as they try to get through the process on their own. .
Are They There To Just Do The Paperwork?
Yes, that is correct.
Are Credit Counseling Places Or Debt Consolidation Companies Helpful?
Sometimes they are helpful. But, there are many times when they are not. Many places charge for their services, plus the creditors must agree to take in that process, and payments may be greater than or more than you would be required to pay in a bankruptcy.
Would The Person Need To Wait For 8 Years Before They File Again Or Before The Next Discharge?
Usually, there is no limitation on when the person can file for bankruptcy. However, there is a difference between “filing” a bankruptcy and getting the benefit of a “discharge.”
Generally, a person may only receive a discharge once every 8 years. But, of course, there are certain exceptions to that rule. If you’re not sure and want to know if you might fall within that exception, call us today for an evaluation.
What Happens If The Bankruptcy Gets Dismissed And How Long Till Someone Can File Again?
The person would likely be able to re-file the bankruptcy immediately after it was dismissed. It is unusual if the person has only filed once and it gets dismissed, but if the case was dismissed with a bar, meaning an order by the bankruptcy judge which would prevent the person from re-filing again, then the person would not be able to file until that bar was lifted. Usually the bar is for a period of 180 days and the person cannot file until the bar is lifted.
For more information on When To File For Bankruptcy, a free initial consultation is your next best step. Get the information and legal answers you’re seeking by calling (714) 697-8600 today.