We are often asked – “Can I file bankruptcy on my own?” The answer is yes. Individuals can file bankruptcy on their own, but in most circumstances, seeking the assistance of an experienced bankruptcy attorney is the more prudent decision. While filing bankruptcy on your own could save you money initially, hiring a Dallas bankruptcy lawyer will help save time, money and stress in the long run.
Filing Bankruptcy in Dallas Area On Your Own Might Not Be The Answer
Just because you can file your own bankruptcy does not mean that you should. Many sources from the Internet and maybe even people that you know will tell you that filing bankruptcy is as simple as pulling a credit report and filing forms with the court. The reality is that it is often times much more complicated than that. For example, while searching the internet might help you learn basic differences between chapter 7 bankruptcy and chapter 13 bankruptcy, do you know for certain which chapter is right for you?
A chapter 7 bankruptcy lawyer will be able to identify whether or not the “means test” applies in your case. A chapter 13 bankruptcy attorney will know how much your payments should be to the chapter 13 bankruptcy trustee will be. A business bankruptcy lawyer will identify how chapter 11 bankruptcy can solve your business debt problems. Regardless of the chapter of bankruptcy, each of these has their own set of very strict eligibility requirements and reporting obligations. There are also benefits and drawbacks to each, particularly, for example, with regard to how filing bankruptcy can help save a home from foreclosure.
Filing the wrong paperwork or failing to file under the correct chapter can be a costly mistake, which can result in dismissal or conversion of your case, or creditors being left out of the filing altogether, which may result in them garnishing your wages. If your case is dismissed, you are right back at square one with a new set of filing fees and all new documents. Unfortunately, in these situations, the do-it-yourself approach failed to get you where you wanted to be, and, in order to remedy the situation, you would likely need to hire an experienced bankruptcy attorney to save the day.
Many clients come to us after having tried to file their own bankruptcy case and accompanying documents, only to have their case or documents rejected by the court for any of a variety of reasons. In most situations, we can help fix the problem and get you back on the path to financial freedom.