How to Declare Bankruptcy — 3 Ways on How to File for Personal Bankruptcy That You Must Know
How can you get started with your bankruptcy filing? If you want to declare yourself bankrupt you have to start the process by submitting the official bankruptcy forms. You need to learn the several ways on how to declare bankruptcy. Your objective is to get the most affordable 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 most dependable and safest means to file personal bankruptcy — retain a bankruptcy lawyer full-time. The attorney will guide you through the full procedure. It is the lawyer’s job to assess, prepare and file your petition. During the meeting of creditors your attorney will manage all the tough issues that may arise. The only negative in selecting this procedure 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 usually works best in filing Ch 7. The key ingredient here is to hire the services of an attorney or law firm to prepare your bankruptcy papers. You need to pay the service provider with a flat fee. Once they file your case you are on your own. You can save on legal cost because part of the solution is a self-help work. You should look for a bankruptcy preparation service that will also give you a short training on how to handle the do-it-yourself portion as part of the package.
The Cheapest Method
This procedure is a full self-help solution or “pro se” filing. You need to teach yourself with the complexness of the bankruptcy laws. You can download the free bankruptcy forms for Chapter 7 or Ch 13 but it is usually easier to do this method if you get 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 registered bankruptcy attorneys.
What to Do Next?
Now that you know the different ways of filing bankruptcy, which method are you going to select? The new bankruptcy law doesn’t require you to have an attorney, but it is in your best interest to seek the advice of a qualified bankruptcy attorney. If you choose to file bankruptcy with out the help of an attorney, you must exhibit a lot of diligence and patience. Keep in mind that when it comes to filing personal bankruptcy, you either lose your assets or you keep them.
Do you want to know where you can find affordable bankruptcy lawyers? Find out how to file bankruptcy with inexpensive, easy and fast solutions today.
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