Using a Bankruptcy Lawyer Or Doing Your Own Bankruptcy

If you are thinking about filing for bankruptcy, and you think you can do everything yourself to save money instead of using a bankruptcy lawyer, you might be a little overwhelmed with all the work involved. The first thing you will need to do is find all the documents you need to file. You have to find a counselor that is approved by the court and a money management counselor for the end. You have to find a trustee to collect the monthly payments to pay the creditors if you are filing a chapter 13 or 12.After you have this all done, you need to start filing out all the paperwork. You will need a credit report that lists all your debts that have gone to collection, any debts that have not gone to collection and any other debts you owe. You need account numbers, addresses and names as well as final amounts for each creditor. A bankruptcy lawyer will enter all this information into a software program for easy review. You will have to do everything manually.After you have all the information, you need to know how to figure out your income and your expenses. If you do not do the entries correctly, you filing can be postponed until you have all the correct information. Even if you have a bankruptcy lawyer, you still will have a lot of work to do, but the aggravation is turned over to them. They are the ones that have to get all the paperwork correctly filled out and you just have to give them the information.Filing for bankruptcy is not as easy as everyone thinks. The bankruptcy lawyer spends a great deal of time preparing your case and reviewing to make sure everything is correct. It is better to use a lawyer than it is to do it yourself.

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