3 Myths of Do-It-Yourself Bankruptcies
Some people look at bankruptcy as a straightforward process that requires some simple, if thorough legal paperwork. The truth of the matter is that there are more than just some facts and figures that a person needs to provide in order to make it through bankruptcy. Bankruptcy is actually a fairly complicated process that can prove extremely nerve-wracking for someone who does not have a competent and confident legal advisor to back them up.
If you are convinced that you can handle your own bankruptcy, you may want to at least know your options and what kind of challenges you might encounter. For a free consultation about how bankruptcy really works, contact the Joliet bankruptcy lawyers of the Law Offices of Stuart B. Handelman by calling 815-722-2201 today.
There are a number of misconceptions which can lead a debtor unfamiliar with the bankruptcy process to commit costly errors in the handling of his or her case. Before you attempt to go it alone, it is important that you understand the truth about the following bankruptcy myths.
Myth: Bankruptcy’s as simple as filing.
Truth: Bankruptcy can be a long, complex series of legal battles between a debtor, their creditors, and the bankruptcy trustee. With help from an attorney, a debtor can be prepared to respond to these difficulties.
Myth: Bankruptcy attorneys cost too much.
Truth: In reality, a person’s legal advisor may end up saving them money by ensuring that a case claims appropriate exemptions in Chapter 7 bankruptcy or creates an efficient repayment plan in Chapter 13. Also, an attorney can defend a debtor’s rights when a creditor challenges them during bankruptcy proceedings.
Myth: I can represent myself as well as any attorney can.
Truth: As stated before, many bankruptcies are far from simple legal procedures. If creditors wish to argue for their right to receive payment, they will bring their full legal resources to bear. A debtor needs to be ready to handle this, or they may not get as much out of a bankruptcy as expected.
If you are drowning in debt and need a way out, bankruptcy might be the right solution for you. Do not fall prey to sales pitches by bankruptcy software companies or do-it-yourself gurus. For vigorous and knowledgeable representation, contact the Joliet bankruptcy lawyers of the Law Offices of Stuart B. Handelman at 815-722-2201 to learn more.