Can you file Chapter 7 bankruptcy without an attorney? Yes, you can. This is called filing “pro se” and while it’s entirely legal, it is strongly advised against. You may think that The Law Offices of Paul Y. Lee is saying that because we’re in the business of helping clients through their bankruptcies but we’ve compiled five of the main risks you take on if you file Chapter 7 bankruptcy on your own.
- You may file the wrong kind of bankruptcy
- You could be punished for any small mistake on your bankruptcy paperwork
- You could lose property unnecessarily
- You’re going to have to deal with your creditors
- You’ll spend more doing it your own than you would have paying an attorney
The reality is that Chapter 7 may not be the right option for you at all. This option is specifically for people with lower income and fewer assets. It’s generally not the best option for someone who’s trying to avoid foreclosure. A bankruptcy attorney can assess your situation and offer the best advice on whether Chapter 7 or Chapter 13 is best for you.
There’s a document called a “bankruptcy petition” that stands as the record that you’re filing for bankruptcy. However, there are many, many other forms you’ll need to fill out. Additionally, you’ll need many dozens of supporting documents that show your total debts and assets, not to mention your creditors. This document must be very specific.
Making even the smallest error or leaving a minor detail out could delay your case. If it’s a serious error, then your case could be dismissed entirely. Remember that every day you’re going through the bankruptcy process is another day you’re dealing with debt. To get through with it as quickly as possible, reach out to The Law Offices of Paul Y. Lee at 951-755-1000 for a free consultation.
If you end up choosing the wrong exemptions, then you may lose property you actually have a right to keep. The way this type of bankruptcy works is that a trustee sells some of your property and the money gained in that process repays your creditors. There are exemptions that can’t be sold – but you must know how to have them exempted.
One of the benefits of filing for bankruptcy is that your creditors are legally required to stop contacting you. That said, this doesn’t mean they do. When you have an attorney, we can make sure that the automatic stay is being followed.
The number on reason people choose not to hire a California bankruptcy attorney is because they’re trying to save money. The reality is that representing yourself can easily cost more in the long run when you lose belongings, go through the process more slowly, and make mistakes along the way.
We know that your finances are a concern. We know that you need to move forward from this debt and you’re not sure how to do that most effectively. Call The Law Offices of Paul Y. Lee at 951-755-1000 today to learn more about the many options available to you.
