It is possible to file for bankruptcy without the help of an attorney, and some people will tell you that for a “simple” bankruptcy, this is the best option.
The only issue is that how can you know whether your bankruptcy is straightforward? You can’t, at least not without a high degree of assurance. And, when it comes to a major legal action that will have a long-term financial impact on your life, don’t you want to be sure that every last detail has been taken into account?
You do, of course. That is why you should contact The Law Offices of Paul Y. Lee to find a bankruptcy attorney.
Hiring an attorney might help you avoid common filing errors
When you attempt to fill out the bankruptcy petition on your own or with aid from anybody other than an experienced bankruptcy attorney, no matter what type of bankruptcy you are considering or how straightforward you believe your financial situation is, there is always the risk of making a mistake.
Here are some frequent filing blunders that may be avoided by entrusting your case to the professionals at The Law Offices of Paul Y. Lee:
- Filing under the incorrect chapter: Chapter 7 and Chapter 13 are the two most popular kinds of personal bankruptcy. All unsecured debts can be discharged under Chapter 7, whereas Chapter 13 provides a repayment plan for your obligations. Obviously, you do not want to mix up your Chapters and complete the incorrect paperwork, as this might prevent you from receiving the relief you want.
- Making a mistake on the means test: Make sure you qualify for the Chapter you wish to file under—Chapter 7 is means-tested, so if your income is too high, you won’t be able to file. The California means exam might be difficult, so it’s better to leave it to the pros.
- Choosing the incorrect exemptions: Another typical error people make when attempting to file on their own is selecting the incorrect exemption list. This may result in you missing out on important protections for your house or other assets throughout the bankruptcy process.
- Prior to filing, repaying a creditor or transferring assets: When you may file for bankruptcy, there are certain very strict guidelines to follow. Your petition may be refused if you file too soon after transferring assets to a relative or repaying one of your creditors, or the other creditors may sue you.
- Making mistakes in any part of the paperwork: A personal bankruptcy petition is around 60 pages long and has several potentials for error. You could, for example, miscalculate the value of an item or fail to record all of your holdings. Even if the inaccuracy goes unnoticed at first and your petition is accepted, it’s conceivable that your case may be reopened if the bankruptcy trustee discovers an error.
Why take the chance of making a mistake? Please contact The Law Offices of Paul Y. Lee right away at 951-755-1000. Errors may result in your petition being denied or delayed at best. In the worst-case scenario, they might result in criminal charges of fraud or perjury. Why take the chance? Simply call 951-755-1000 and leave the rest to the professionals at The Law Offices of Paul Y. Lee.
