You Can File for Bankruptcy Yourself, But Is It a Good Idea?

February 11, 2019

While it is possible to file for bankruptcy by yourself, it isn’t always a good idea. You may save fees upfront by filing yourself, but it could cost you more money in the long run. An experienced Charleston bankruptcy attorney will recognize any potential issues and address them quickly to ensure that your case goes as planned. Below are just a few things that an attorney can do to help you during your bankruptcy:

 

Assist with Bankruptcy Planning

  • An experienced Charleston bankruptcy attorney will be able to advise you if bankruptcy is the appropriate choice for your situation. There may be other alternatives that fit your situation better.
  • Charleston bankruptcy attorney will help you determine the goals of your bankruptcy and decide which type of bankruptcy is best suited to achieving those goals.

 

Preparation for Bankruptcy

  • Your Charleston bankruptcy attorney will understand how the means test applies to your situation, which can determine whether Chapter 7 or Chapter 13 bankruptcy is your best option.
  • Do you know the value of your assets? Your attorney will help you ensure that you value and disclose your assets correctly.
  • South Carolina has specific exemptions that determine which property you can keep during bankruptcy. Your attorney will know how to use those exemptions to protect as many of your assets as possible.
  • Certain debts will not get discharged (or wiped out) during bankruptcy. Others will only be wiped away if you meet certain conditions. Your attorney can explain what will happen to each one of your debts during bankruptcy.

 

During Bankruptcy

  • There are multiple documents that are required to be filed during bankruptcy. Your attorney will ensure that all documents are filed correctly and ensure that all of your disclosures are made when required.
  • Your attorney will be able to fully explain to you what will happen during your cases, such as the roles of the judge and the bankruptcy trustee. They will also be able to tell you the steps you will need to take to qualify for discharge as well as the actions your creditors are allowed to take.
  • You will be required to sign your bankruptcy paperwork under penalty of perjury. Your attorney will be with you at all your hearings to ensure that your testimony is correct and as accurate as possible.
  • Your attorney will handle any creditors who violate your automatic stay that prohibits them from collection activity after your bankruptcy has been filed.
  • Your creditors will want repayment, but your attorney can negotiate with them on payment terms, the collateral, and interest rates in hopes of allowing you to keep your house and vehicle.
  • If your circumstances change and you have filed for Chapter 13 bankruptcy, your attorney can request the court to make a permanent or temporary adjustment to your payment plan.

 

Contact a South Carolina Bankruptcy Attorney Today

An experienced Charleston bankruptcy attorney like those at David Aylor Law Offices will ensure that you get through the process of bankruptcy as quickly and smoothly as possible. Contact us today to get started on the path to financial success.

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