Law

Filing For Bankruptcy By Yourself – Avoid These Mistakes at All Costs

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Posted By Kingsley

When filing for bankruptcy, you might consider filing it by yourself. However, you might find yourself divided between hiring a lawyer to file bankruptcy, or going through the whole process alone.

So, if you have finally decided to file for bankruptcy by yourself, you should learn more about some of the biggest mistakes people usually make when filing bankruptcy. Doing this will allow you to easily avoid those mistakes in the process.

Filing in a Hurry

Before you can start the process of filing for bankruptcy, you should consider all of the options you have. This will allow you to choose the best option which will fit your needs.

In many cases, hiring a good bankruptcy lawyer can help you avoid filing for bankruptcy if the lawyer is good enough to provide you with a better alternative. So, we recommend hiring a good lawyer to find out the best declaring bankruptcy timeline.

Choosing The Wrong Chapter

When you are filing for bankruptcy, you have to choose between chapter 7 and chapter 13. Both of these chapters are very different from each other, and you should select one of them after careful consideration.

For example, if you have little to no income, and have no assets either, then choosing the chapter 7 bankruptcy might be the better option for you. Other circumstances might require you to choose chapter 13 bankruptcy.

No Submitting All The Required Documents

One of the biggest drawbacks of choosing to file for bankruptcy on your own is that you have to submit all the required documents by yourself. When you do this without any experience, chances are that you might miss one or two important documents which can cost you your bankruptcy case. So, always consult with the lawyer before filing for bankruptcy.

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