Recent trends in bankruptcy filings reveal that not only are less people are filing for bankruptcy in these days than in the past few year, but fewer people are filing with the help of a bankruptcy lawyer. As more people attempt to navigate the bankruptcy process without representation it brings to light a few concerns that potential filers should consider before going down this path.
The bankruptcy process is legal matter, which means that there are numerous requirements, rules and guidelines that must be followed in order for the case to be successful. The biggest problem with filing for bankruptcy without representation is ensuring that all the necessary steps are completed accurately and on time, which can significantly impact the outcome of a case. Missing or inaccurate paperwork, failure to pay court fees or complete a credit counseling course are all steps that can be easily overlooked if a person doesn’t know what they are doing or what to expect.
Most people assume that hiring a bankruptcy lawyer will be expensive, which is simply money they already don’t have. While not all lawyers are equal in terms of their fees or services, the truth is that most bankruptcy lawyers offer reasonable fees that can be paid through flexible terms. The key is finding a lawyer who offers a payment plan, allows for their fees to be rolled into payments handed out as part of their case and may even offer money back guarantees of their services.