Risks of Filing for Bankruptcy Without a Lawyer
When an individual debtor in South Florida decides to file for bankruptcy, they might look at the costs of filing, along with the common fees charged by attorneys, and decide it makes sense to save some money in order to file without legal assistance. However, it is important to know that there are many risks associated with filing for bankruptcy without an experienced lawyer on your side. The advocates at Kelley, Fulton, Kaplan & Eller can discuss some of those risks with you today.
Filing for the Wrong Type of Bankruptcy
Do you know which type of bankruptcy is right for you and whether you meet the filing requirements? Many debtors risk filing for the wrong type of bankruptcy when they decide to file on their own without legal assistance. Filing for the wrong kind of bankruptcy — based on both your individual needs and eligibility — can result in a range of problems, from being unable to receive the relief that bankruptcy can provide to losing your home to foreclosure when you could have saved it with a particular kind of bankruptcy filing.
Errors in Filing Requirements
Bankruptcy requirements are complex, and there are many points in the bankruptcy process at which it is possible to make even minor errors that could delay your case or ultimately prevent you from receiving a discharge. If you work with a lawyer, you will not be at risk of making mistakes that could impact the outcome of your bankruptcy filing.
Missing Valuable Exemptions
Exemptions are relevant to both Chapter 13 and Chapter 7 bankruptcy cases, but they are especially important in Chapter 7 cases. In Chapter 7 bankruptcies, exemptions allow you to keep property while non-exempt assets are liquidated. If you do not work with a lawyer, you could miss critical and valuable exemptions that could allow you to retain various assets while still receiving a discharge.
Having to Handle Complex Legal Issues That Arise on Your Own
A significant risk of attempting to handle your bankruptcy case without a lawyer is that one or more complex legal issues will arise — as they often do in bankruptcy cases — and you will have to navigate them on your own. Without in-depth knowledge of the bankruptcy system and US bankruptcy law, it will likely be difficult to handle any issues that arise with clarity and accuracy. The best way to ensure that you are prepared for any legal matters that may arise in your bankruptcy case is to work with an experienced bankruptcy attorney from the start,
Contact Our West Palm Beach Bankruptcy Attorneys Today
Bankruptcy law in the United States is extremely complicated, and it is important to have experienced legal counsel on your side throughout the bankruptcy process. If you have any questions or concerns about individual bankruptcy, or if you are ready to begin the process of filing for bankruptcy, you should get in touch with an experienced West Palm Beach bankruptcy lawyer at Kelley, Fulton, Kaplan & Eller. Contact us today to learn more about how we can assist you with your bankruptcy case from start to finish.
Sources:
law.cornell.edu/uscode/text/11
leg.state.fl.us/STATUTES/index.cfm?App_mode=Display_Statute&URL=0200-0299/0222/0222ContentsIndex.html
