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Disadvantages of Filing for Bankruptcy Without an Attorney

bankruptcy lawyer cherry hill njIt goes without saying that if you are filing for bankruptcy then you probably have some financial struggles you are dealing with. At this point, it probably seems counter-intuitive to pay for an attorney when you are already pinching pennies. Well, under the laws of bankruptcy, you are not actually required to use an attorney to file for bankruptcy. You have the ability to represent yourself in Chapter 7 and Chapter 13 bankruptcy. That being said, it typically is not a good idea to go it alone. Of course, the final decision is yours, but you should keep in mind the disadvantages that come when you file for bankruptcy without an attorney. Contact the experienced New Jersey bankruptcy lawyer at the Law Office of Joel Spivack today for a free consultation.

Accuracy is Key on Your Bankruptcy Petition in Haddonfield, NJ

The bankruptcy process can be complex and involves plenty of forms, documentation, and paperwork. In addition, there are schedules that must be adhered to without fail. At any point in the process, your case could be dismissed because:

  • You missed a deadline
  • Filed incomplete paperwork
  • Filed incorrect or insufficient documentation in regard to assets, income, and debts
  • Filed paperwork with mistakes

These types of errors seem small, but with so much required documentation, forms and paperwork required for bankruptcy, the chance to make them is great. An experienced bankruptcy attorney understands what it takes to successfully guide you through this process. They will not make the kinds of mistakes many do when they choose to file on their own.

Know Your Bankruptcy Rights in Camden, New Jersey

Another disadvantage to filing for bankruptcy on your own is that you will have to take the time to educate yourself on how bankruptcy laws work. This will require an extensive amount of research on your part. A certified bankruptcy attorney already has this knowledge, from both schooling and experiences with past cases. In addition, they know about any state-specific laws and the exemptions that are available in your state. While filing a simple Chapter 7 bankruptcy is something that may seem reasonable, other forms of bankruptcy can be much more complex. A Chapter 13 bankruptcy is more complex and more labor-intensive than Chapter 7.

This is because you must come up with a feasible repayment plan that works for your creditors and you. The plan must be approved by the court. Attorneys have the tools and programs to come up with such plans. Any other additions to your bankruptcy filing will require further, extensive paperwork and research. If you are looking to strip your second mortgage, that is something that will require additional paperwork with the court. Even a Chapter 7 bankruptcy might not be as simple as you originally thought. They can quickly become more complex and require more work and attention to detail. If any of the following apply to you, then you should consult an attorney:

  • Significant income that might disqualify you from Chapter 7
  • Own a business
  • Have a lot of assets that could be at risk
  • Have non-dischargeable debts
  • Have creditors that may challenge your discharge

Again, an experienced bankruptcy attorney already has the knowledge necessary to get you the result you desire from your bankruptcy. Their skills and experience are your best bet to help you move forward and become more financially secure. Contact the Law Office of Joel Spivack today for a free consultation.

Contact a Cherry Hill Bankruptcy Attorney for a Consultation About Bankruptcy in New Jersey Today

If you are struggling with debt, you may need a fresh start financially. An experienced bankruptcy and debt relief attorney can help you explore your options and determine the best course of action for you, your family, and/or your business. The experienced New Jersey bankruptcy lawyers at the Law Office of Joel Spivack understand the nuances of New Jersey and federal bankruptcy laws, so we can help you protect your interests. Call us anytime at (856) 488-1200 or fill out the online contact form to schedule a confidential consultation. We have an office conveniently located at 1820 Chapel Ave W #195, Cherry Hill, NJ 08002.

The articles on this blog are for informative purposes only and are no substitute for legal advice or an attorney-client relationship. If you are seeking legal advice, please contact our law firm directly.