NATHAN A BERNEMAN, APC
BANKRUPTCY LAW FIRM
BANKRUPTCY FACTS
CAN A CLIENT HIMSELF FILE FOR BANKRUPTCY?
Well, we all know that debt can be extremely frightening and can give you sleepless nights. But, don't worry; there are legal ways to get you out of trouble and harassment that you might face from various creditors or investors. Circumstances for filing bankruptcy may vary depending on an individual basis. So let's have a read!
Let's understand more about the types of bankruptcy There are different types of bankruptcy filing procedures for both consumers and businesses. Generally, you will qualify for only one or two different chapters, depending upon the nature of your debts.
CHAPTER 7
This is a no-asset bankruptcy. It allows you to eliminate nearly all of your debt but, in exchange, you may have to sell your valuable assets, like a house/car. If you have some assets that you might want to keep, then you may/may not qualify for an exemption for items worth under a few thousand dollars.
CHAPTER 13
It allows you to keep your property intact but may require you to create a substantial plan/arrangement to repay some or all of the debt. You would need a regular income stream to successfully file chapter 13. People who file for this type of bankruptcy are usually employed homeowners who are unable to pay their mortgage debt.
Filing for bankruptcy without a bankruptcy attorney, how can a bankruptcy attorney make it better?
Individuals can file a case for bankruptcy by themselves, or, in other words, they can represent themselves in bankruptcy court, although, it may be extremely difficult to do it successfully. It is extremely important that a bankruptcy case must be filed and handled in the right manner failing which might result in more trouble. Any misstep that you take may affect a debtor's rights.
The bankruptcy process has long-term financial and legal implications, and if a client himself filing a bankruptcy case and try to represent himself, then it can ruin your whole built case, therefore, hiring a competent and certified attorney is strongly recommended. An attorney would know all the rules and regulations involving bankruptcy and may help you get through the process efficiently and smoothly and with as little material loss as practically possible.
Even If you want to handle your own case, it is still recommended to have an attorney by your side to review your documents and advise you through each step of the bankruptcy process.
Those who file bankruptcy on their own may run the risk of not accurately disclosing debts or income or assets.
And if a case is incorrectly and improperly filed, it may be dismissed straightway by the bankruptcy court, leaving you at square one. But, an experienced expert bankruptcy attorney will be able to take you through the process effectively.
Address - California, US https://www.bernemanlawfirm.com/ Phone 805.492.7045 Outside ventura County 877-620-0044 Toll free 888.200.4443
