Declaring Personal Bankruptcy — 3 Methods on How to Declare Bankruptcy
How can you start with your bankruptcy? If you want to declare yourself bankrupt you have to start the process by completing the official bankruptcy forms. You must learn the different methods on how to declare bankruptcy. Your goal is to get the most inexpensive bankruptcy solution and save on legal fees. This article will give you an overview of the various methods of declaring bankruptcy.
The Safest Method
This is the least problematic and safest way to file personal bankruptcy -- retain a bankruptcy lawyer full-time. The lawyer will help you through the whole process. It is the lawyer's job to evaluate, prepare and file your papers. During the meeting of creditors your attorney will handle all the thorny issues that may arise. The only disadvantage in choosing this procedure is that it costs more. You must find a way on how to screen attorneys properly for you to get the best possible deal if you want to use this method.
The Hybrid Method
This procedure is the most followed technique in declaring bankruptcy. The hybrid method normally works best in filing Ch 7. The key factor here is to hire the services of a lawyer or law firm to prepare your petition. You need to pay the service provider with a flat fee. Once they file your forms you are on your own. You can save on legal fees because half of the solution is a do-it-yourself work. You should look for a bankruptcy preparation service that will also give you a guide on how to tackle the do-it-yourself portion as part of the deal.
The Cheapest Method
This method is a full self-help solution or "pro se" filing. You need to teach yourself with the complexness of the bankruptcy procedures. You can download the free bankruptcy forms for Chapter 13 or Chapter 7 but it is usually easier to do this method if you get an up-to-date bankruptcy book or a bankruptcy kit. If you try to ask help from your local court clerks they will say they can't assist you. They will not give you advice on how to fill out the forms because that would be considered as "practicing the law" -- a task reserved only for local bankruptcy attorneys.
What to Do Next?
Now that you know the different ways of filing personal bankruptcy, which method are you going to select? The new bankruptcy law does not require you to have an attorney, but it is in your best interest to seek the advice of a seasoned bankruptcy attorney. If you choose to declare bankruptcy with out the help of a lawyer, you must show a lot of diligence and patience. Remember that when it comes to filing for bankruptcy, you either lose your assets or you keep them.
Do you want to know where you can find affordable bankruptcy lawyers? Find out how to declare bankruptcy with affordable, fast and easy solutions today.
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