Why you need a lawyer’s help when it comes to bankruptcy

by Josh Ramos

Are you thinking about trying to declare bankruptcy by yourself? Well, you may want to reconsider this idea. That’s because the process can be much more complicated than you may have expected depending on your exact circumstances. I don’t blame you for trying to go it alone in order to save yourself some cash.

After all, if you’re considering personal bankruptcy in the first place, you probably don’t have much extra money to be spending on legal fees. With this in mind, should you try to file bankruptcy without a lawyer?

Absolutely not. Bankruptcy has become an even more complex subject in the last few years because of the changes that Congress has made to the bankruptcy code. The new bankruptcy law was meant to place additional hurdles for individuals trying to wipe out their debts. Even though declaring chapter seven is still an option for many people, the process itself has become more challenging.

One of the major changes in the recent bankruptcy reform law was the means test, which tries to look at your income and expenses to determine your need for bankruptcy.

Those with a higher income than the average salary for their state will have to go through some extra steps in order to prove their need for bankruptcy.

Taking a means test includes having to more carefully document your income and expenses, but there are other details that your lawyer will need to explain to you.

You’re well meaning friends or relatives may try to convince you that bankruptcy doesn’t require lawyer, and some of them may have gone through that process by themselves sometime in the past. Remember, though, that the recent bankruptcy reform law does make things more difficult for the layman (and even for a lawyer to some extent).

The technical details of a bankruptcy are best left to a lawyer to decipher. Remember the importance of this step for your financial future and don’t take it lightly. After all, a successful bankruptcy filing will clear up your previous debts and allow you to pay your lawyer more easily.

About the Author:
Don’t let the fear of your debt take over your life. Get the facts about bankruptcy and learn how to get control of your debt. To learn more about life after chapter 7 bankruptcy visit us at http://personalbankruptcyquestions.org
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