Can you declare bankruptcy under Chapter 7 without a lawyer? You can, indeed. While it is perfectly lawful to file “pro se,” which is what this is, it is strongly discouraged. Although you would assume The Law Offices of Paul Y. Lee is making this assertion because we assist clients with their bankruptcies, we have gathered five of the major dangers you accept if you file Chapter 7 bankruptcy on your own.
After you have read through them, we invite you to contact us at 951-755-1000 for a free legal consultation.
You might choose the incorrect type of bankruptcy
In actuality, Chapter 7 might not be your best option at all. Particularly for those with lower incomes and fewer assets, this option is available. For someone wanting to prevent foreclosure, it’s typically not the greatest choice. A bankruptcy lawyer can evaluate your circumstances and provide you the best guidance on whether Chapter 7 bankruptcy or Chapter 13 bankruptcy is right for you.
For even the smallest error on your bankruptcy filing, you risk punishment
The proof that you are declaring bankruptcy is a document known as a “bankruptcy petition.” You will need to complete a ton of extra forms, though. You’ll also need dozens of supporting documents that list all of your assets and debts, as well as your creditors. You must be very specific in this text.
Any mistake, no matter how slight, or omission of a single detail, could cause your case to be delayed. If there is a significant error, your case may be completely rejected. Keep in mind that every day you spend filing for bankruptcy is another day you have to cope with debt. Call The Law Offices of Paul Y. Lee at 951-755-1000 for a free consultation to finish it as soon as feasible.
You might unintentionally lose property
If you choose the incorrect exemptions, you can wind up losing things that you legitimately have a right to preserve. A trustee in this kind of bankruptcy sells some of your belongings, and the proceeds go toward paying off your creditors. There are some exemptions that cannot be sold, but you must understand how to obtain them.
Dealing with your creditors is something you’ll have to do
One advantage of declaring bankruptcy is that your creditors must stop contacting you by law. However, this does not imply that they do. If you have legal representation, we can make sure the automatic stay is applied.
Doing it yourself will cost you more money than hiring an attorney would
People’s desire to save money is the main factor in their decision to not engage a California bankruptcy attorney. The truth is that if you misplace items, take longer to complete the procedure, or make mistakes along the way, representing yourself may end up costing more in the long run.
We are aware of your financial worries. We are aware that you must get rid of this debt, but you are unsure of the best way to proceed. To learn more about the various alternatives open to you, contact The Law Offices of Paul Y. Lee at 951-755-1000 right away.
