How to Declare Bankruptcy — 3 Ways That You Must Know Before Filing For Personal Bankruptcy
How can you get started with your bankruptcy? If you want to declare yourself bankrupt you have to begin the process by submitting the official bankruptcy forms. You must learn the different methods on how to file for bankruptcy. Your objective is to get the most inexpensive bankruptcy solution and save on legal cost. This article will give you an introduction to the different process of declaring bankruptcy.
The Safest Method
This is the least problematic and safest means to file personal bankruptcy — hire a bankruptcy lawyer full-time. The lawyer will assist you through the full process. It is the attorney’s job to assess, prepare and file your papers. During the meeting of creditors your lawyer will address all the thorny issues that may arise. The only negative in using this method is that it costs more. You must find a means on how to filter attorneys in good order for you to get the best possible deal if you want to use this procedure.
The Hybrid Method
This method is the most adopted technique in filing for bankruptcy. The hybrid method normally works best in filing Ch 7. The key factor here is to hire the services of an attorney or law firm to prepare your papers. You need to pay the service provider with a fixed fee. Once they file your petition you are on your own. You can save on legal expenses because half of the solution is a self-help work. You should look for a bankruptcy preparation service that will also give you a mini seminar on how to handle the do-it-yourself portion as part of the package.
The Cheapest Method
This method is a full do-it-yourself solution or “pro se” filing. You need to teach yourself with the complexity of the bankruptcy laws. You can download the free bankruptcy forms for Chapter 7 or Chapter 13 but it is normally easier to do this method if you buy an up-to-date bankruptcy book or a bankruptcy kit. If you try to ask assistance from your local court clerks they will say they can’t assist you. They will not give you advice on how to fill out the forms because that would be “practicing the law” — a task reserved only for registered bankruptcy lawyers.
What to Do Next?
Now that you know the different methods of filing personal bankruptcy, which technique are you going to choose? The new bankruptcy law does not require you to have a lawyer, but it is in your best interest to seek the advice of a qualified bankruptcy attorney. 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. Keep in mind that when it comes to filing personal bankruptcy, you either liquidate your assets or you keep them.
Do you want to know where you can get cheap bankruptcy lawyers? Find out how to declare personal bankruptcy with affordable, fast and easy solutions today.
