How Hard is it to File for Bankruptcy?

It's not that hard to file for bankruptcy, but the process and mountain of required forms and documentation can be a little intimidating. This post will give you the highlights of the required bankruptcy forms and some information on the process.

The process is almost the same whether you're filing for a chapter 7 or a chapter 13, with the exception of designing and getting the payment plan approved.

Let's start with the process for a "do-it-yourself", pro se bankruptcy filing.

When Should You File Bankruptcy Yourself?

You don't need a lawyer to file for bankruptcy unless you're filing on behalf of a corporation or larger LLC. A lawyer is great for ensuring you get your paperwork completed correctly and use the laws to get the most debt discharged while protecting all of your property, but if you've got a simple chapter 7 and no extraneous assets, you can certainly do it yourself.

Harassing Debt Collectors? File Bankruptcy and Make Them Pay for It

Once you've fallen behind on your financial obligations, it's only a matter of time before the debt collectors start calling. If it's a bank or your credit card company, then the notices should be professional and hopefully cordial. However, once debt gets passed on to a collection company, the letters and phone calls will likely become much more aggressive.

Fortunately, there are laws in place that give you the power to fight back. The Fair Debt Collection Practices Act (FDCPA) outlines what debt collectors can and cannot do.

Why Pay a Bankruptcy Lawyer to Do My Paperwork?

There are a few options for people who are thinking about filing bankruptcy with regards to getting help with the paperwork and the process. The three most likely options are to hire an attorney, use a petition preparation service, or file "pro se".

First things first. If you are filing for bankruptcy you likely do not have a lot of cash available, and hiring a lawyer is expensive.