Need a lawyer for bankruptcy
Do you really need a lawyer when it comes to bankruptcy?
You’ve probably realized by now that filing for bankruptcy can be a pretty complicated matter. Still, it’s tempting to try to go through the process by yourself in order to save money.
Because your finances are in trouble, you’re trying to find any way possible to save some money. So why shouldn’t you try and proceed without a lawyer in order to save that extra money for when you really need it? Is it OK to file by yourself?
Absolutely not. Bankruptcy has become an even more complex subject in the last few years because of the changes that Congress has made to the bankruptcy code. The new bankruptcy law was meant to place additional hurdles for individuals trying to wipe out their debts. Even though declaring chapter seven is still an option for many people, the process itself has become more challenging.
One of the major changes in the recent bankruptcy reform law was the means test, which tries to look at your income and expenses to determine your need for bankruptcy.
You’ll have to undergo this test if your salary is relatively high when compared to the salary of other residents in your states. If your salary is relatively low, however, you don’t really have to worry about this test at all. For those who have to take the means test, it doesn’t necessarily mean that you’ll become ineligible, but it does mean that you’ll have to go through additional steps.
Taking a means test includes having to more carefully document your income and expenses, but there are other details that your lawyer will need to explain to you.
Some people may try to tell you that they were able to do all this by themselves, but chances are that this was before the recent changes in the bankruptcy law. Things are more difficult these days for the lay person to accomplish on his own.
Trying to navigate all the technical details of the bankruptcy code can be very difficult for a layperson. Even lawyers who specialize in bankruptcy have to work hard to keep up with all the latest developments and court rulings regarding personal bankruptcy.