How to File Bankruptcy — 3 Methods on How to Declare Personal Bankruptcy That You Need to Know
How can you start with your bankruptcy? If you want to declare yourself bankrupt you have to begin the process by submitting the official bankruptcy forms. You need to learn the several ways on how to declare bankruptcy. Your goal is to get the most affordable bankruptcy solution and save on legal expenses. This article will give you an overview of the various ways of filing for bankruptcy.
The Safest Method
This is the most simplified and safest means to file personal bankruptcy — hire a bankruptcy lawyer full-time. The lawyer will assist you over the full procedure. It is the attorney’s job to evaluate, prepare and file your petition. During the creditors meeting your lawyer will manage all the thorny issues that may arise. The only disadvantage in using this method is that it costs more. You must find a way on how to screen lawyers properly for you to get the best possible deal if you want to use this method.
The Hybrid Method
This procedure is the most followed technique in declaring bankruptcy. The hybrid method normally works best in filing Ch 7. The key component here is to hire the services of an attorney or law firm to prepare your petition. You need to pay the service provider with a flat fee. Once they file your documents you’re on your own. You can save on legal expenses because part of the solution is a self-help work. You should look for a bankruptcy preparation service that will also give you a guide on how to manage the do-it-yourself portion as part of the deal.
The Cheapest Method
This procedure is a full self-help solution or “pro se” filing. You need to educate yourself with the complexity of the bankruptcy laws. You can download the free bankruptcy forms for Ch 13 or Ch 7 but it is usually easier to do this method if you purchase an up-to-date bankruptcy book or a bankruptcy kit. If you try to ask instructions from your local court clerks they will say they can not assist you. They will not give you advice on how to fill out the forms because that would be considered as “practicing the law” — a task reserved only for licensed bankruptcy attorneys.
What to Do Next?
Now that you know the different methods of declaring personal bankruptcy, which method are you going to select? The new bankruptcy law does not require you to have an attorney, but it is in your best interest to seek the advice of a seasoned bankruptcy lawyer. If you choose to declare bankruptcy without the help of an attorney, you will need to have to show a lot of patience and diligence. Remember that when it comes to filing for bankruptcy, you either liquidate your assets or you keep them.
Do you want to know where you can get cheap bankruptcy attorneys? Find out how to file for bankruptcy with low-cost, easy and fast solutions today.
This entry was posted on Friday, December 25th, 2009 at 4:23 am and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.