Free bankruptcy forms available for debtors without a bankruptcy attorney
As the economy continues to struggle, many Americans are feeling the pressure of being buried under mountains of debt. Living paycheck to paycheck is a reality for many as they try to hold on to the hope that things will change and improve. All it takes is one unexpected circumstance, such as a sudden illness or a major car repair, and their finances will spiral out of control. Filing bankruptcy can offer a solution to people like these.
Making the decision to file for bankruptcy is certainly a serious step and the individual should consider all the possible ramifications that a bankruptcy file entails. For example, filing for bankruptcy will affect a debtor’s credit rating and affect the debtor’s ability to borrow money or obtain credit for a period of time in the future. Rebuilding one’s credit is not impossible, but it does require time and diligence on the part of the debtor. But if an individual finds himself in a situation where he is not in control of his finances and is in terrible debt, bankruptcy will give him a much-needed second chance. Some people are so in debt that it is difficult for them to even raise enough money to pay a bankruptcy attorney. So what do these guys do?
It is important to realize that filing for bankruptcy is a person’s legal right and that you also have the right to represent yourself in a bankruptcy case. The place to start is right on your own computer. There is a great deal of information on the Internet about bankruptcy. The debtor can even download the bankruptcy forms for free online from the US bankruptcy court website. The debtor will really have to do their homework and research their district’s bankruptcy laws, as they tend to vary not only from state to state, but also from district to district. With changes to the bankruptcy code in 2005, filing for bankruptcy became more complicated. The bankruptcy petition almost doubled and became more difficult to complete. It has land mines that if not filled correctly the case can be dismissed without discharge. Added mandatory credit counseling and financial management courses that must be completed prior to download. Added a means test to qualify a debtor to file for Chapter 7 bankruptcy or would be forced to file for Chapter 13 bankruptcy. Exemption laws to protect property and assets became more complicated. Basically, filing for bankruptcy just got more complicated for the average individual wanting to file for self-employment or self-employment. That being said, it is more complicated, but not impossible, to file pro se. If the debtor relies on his ability to research and surf the Internet for bankruptcy information and then download free bankruptcy forms, then he will certainly save money. The only filing costs will be court filing fees which are around $199 nationwide and the cost of required bankruptcy courses which are around $30-$50 per course. A person who is really low on cash can apply for a fee waiver from the court and even receive a fee waiver or discount from the credit counseling company.
Although free bankruptcy forms are available and anyone has the right to file for bankruptcy without a bankruptcy attorney, it is always best to seek the help of an attorney with experience in your area. A skilled bankruptcy attorney will know what the expectations of the bankruptcy trustee are in that district and will know what will be acceptable for a smooth bankruptcy proceeding. A bankruptcy attorney will also be familiar with federal and state exemption laws so they can protect as much of the debtor’s personal property and assets as possible. This can be invaluable to the debtor. If the individual weighs the amount of debt he is trying to discharge against the property he would like to keep, then the fee for the bankruptcy attorney’s expertise is truly minimal. In the end, when a person needs to file for bankruptcy, whether on their own or with the help of a bankruptcy attorney, the end result will be a fresh start.