If you find yourself down on your luck, then you’ve probably considered the possibility of claiming bankruptcy. You are not alone. Every year, thousands of people go through the process of filing for bankruptcy because they have nowhere else to go. Their debts have taken over their lives. If you find yourself similarly situated, fear not. Filing for bankruptcy can actually help give you a fresh start. However, the process itself is not without cost.
While the filing fee alone is manageable, the professional fees involved are worrisome and can cost you upwards of $2,000 for the legal services alone. The good news is, you don’t have to shell out this fee. Under the law, only corporations filing for bankruptcy are required to engage the services of a bankruptcy attorney. This means that individuals may represent themselves if they so choose. And when it comes to expenses, this is where you can save a lot of dough.
If you’re afraid to file on your own, just think that you are not a pioneer in this venture. People have been successfully filing claims on their own so this is nothing new. But if you’re determined to seek professional assistance, then finding a good, cheap, and reliable attorney is your best bet. You can start by browsing the web page of the different law schools in your area to find out if they have free legal aid services or cheap bankruptcy lawyer recommendations.
Another option is to seek out the services of a bankruptcy petition preparer. The filing of a bankruptcy petition and the preparation of the supporting documents is one of the most time-consuming aspects of the bankruptcy process. Hiring a petition preparer can take a lot of load off your back. At the same time, it cost you as much as hiring a full-fledged bankruptcy lawyer. The only downside of choosing this option is that bankruptcy petition preparers cannot represent you in court or offer you any legal advice.
No comments yet.