If you are getting ready to file bankruptcy, that means you do not have much money. The thought of hiring a bankruptcy lawyer to help you file bankruptcy may seem impossible. After all, if you cannot pay your creditors, how can you pay an attorney? You may be tempted to file on your own, but doing so is not as simple as it may first seem. Do not look at the paperwork and assume it is easy.
One problem you may face is not claiming enough exemptions. Your exemptions are the properties that are out of the reach of your creditors in a bankruptcy proceeding. If you do not list the exemption, it could be put at risk, depending on the laws of your state.
Houston Bankruptcy Lawyers, Business Bankruptcy Attorney, Bankruptcy Advice,
When you make your schedules, or your lists of assets and liabilities, at the outset of your bankruptcy proceedings, it is imperative that you list everything. However, most people who are filing bankruptcy on their own forget something. Intangible assets, such as partnership interests or stock options, are often overlooked. An attorney who has experience with filing bankruptcy will know what intangible assets to look for as you prepare your schedules. Another mistake many self-filers make on the schedules is underestimating their living expenses. If you do this, the court may assume that you have enough money to pay your debts and deny your appeal. Your attorney will help you claim all of the true living expenses you have
One of the most dangerous mistakes to make is to omit a creditor. Unless you are not an expert on bankruptcy law, do not assume that a certain debt cannot be discharged. Also, do not omit a debt because you want to try to repay it. It could damage your ability to qualify for bankruptcy.
Of course, when you file on your own, you may be tempted to not disclose an asset. This is quite dangerous. If you are caught, your bankruptcy will be denied. Also, moving assets quickly before you file, such as transferring them to a close friend or relative, is not a smart move. Again, this could cause your bankruptcy to be denied.
Filing bankruptcy on your own often ends up being more expensive due to these mistakes. After all, if your claim is denied, you will be stuck with debts that you cannot repay. It is far more prudent to hire an expert to help you with the process a good bankruptcy lawyer is well worth the trouble.
Chapter 13 Bankruptcy Attorney
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
Rating of Chapter 13 Bankruptcy Attorney
Get Online Application at online Bankruptcy Lawyer.
0 comments:
Post a Comment