It may seem that there are options to do-it-yourself for just about anything. Do you want to do your own taxes? There’s an app for that! Do you want to set up your own retirement account? There’s an app for that! One thing we strongly recommend you do not do without a professional is file for bankruptcy. Why not? Keep reading and learn why – then contact The Law Offices of Paul Y. Lee at 951-755-1000 for a free bankruptcy consultation.
How Many People Represent Themselves?
Believe it or not, about 45% of people filing for bankruptcy in California did it themselves. While it is true that the most recent bankruptcy forms were drafted with self-representation in mind, it is also true that you are likely to save a significant amount in the long run if you hire someone to represent you.
Reasons People Try to DIY Their Bankruptcy
There are three main reasons that people try to do their bankruptcy on their own. First and most common is the belief that they cannot afford an attorney. Second, they assume that if they do not do it right, there will be no consequences. Third, they make the mistake of assuming that filing for bankruptcy is essentially just filling out forms. All three of these assumptions are wrong.
Filing Bankruptcy is More Involved Than You May Realize
It is often the case that bankruptcy filings are much more involved than individuals realize. For example, you would have to decide if bankruptcy is the best choice for you, determine which chapter of bankruptcy is best for you to file, list every tangible asset you own, list all intangible assets you own, list all property transfers, and get the required credit counseling.
A Note About Petition Preparers
You may see people offering themselves as a petition preparer. There are a few things to know about this. First, there is no required training or competence to call oneself a petition preparer – anyone can do it. Their job is technically to type up what you provide them. Legally speaking, they are not allowed to explain the forms or help you make choices. If they do more than type, then they are practicing law illegally.
Call Us Now to Save Money on Your Bankruptcy
The truth is that in most cases, the amount you spend on your bankruptcy attorney will be less than the amount you save. Meaning, we can save you more money than our fees are. If you are not sure about this, just give us a call at 951-755-1000 for a free bankruptcy evaluation. There is no risk and no obligation.
