Filing Bankruptcy Without a Lawyer: How it Can Cost You
Filing bankruptcy without a bankruptcy lawyer may seem like a good way to save money, but in reality, not getting proper legal advice during the bankruptcy process can come at a significant cost. Bankruptcy is legally complex with many decisions to make and many forms to fill out, and it is not something you should try to do on your own.
At DCDM Law Group, our Pasadena bankruptcy attorneys provide clients with comprehensive legal advice during all stages of the bankruptcy process. From determining what bankruptcy chapter to file under to making the decision on whether bankruptcy is the best choice, your Los Angeles bankruptcy attorney will be your advocate and share his expert legal knowledge with you every step of the way.
Why Filing Bankruptcy Without a Lawyer Can Cost You
There are many reasons why filing bankruptcy without a lawyer can cause you problems. For instance:
· If you do not file the bankruptcy forms correctly, you may jeopardize the procession of your case or the automatic stay that goes into effect when bankruptcy proceedings start. This could mean that creditors are still able to try to collect from you or foreclose on your home, or even that your bankruptcy could end up getting dismissed.
· If you fail to list a creditor in your bankruptcy, that creditor may still be able to collect from you after the bankruptcy has finished. This could mean that even after the entire bankruptcy process, you still have an outstanding unpaid debt that you have to deal with.
· If you choose the incorrect chapter under the bankruptcy code, your case could end up dismissed or you could end up in a situation where your financial problems aren't resolved. Chapter 7,Chapter 11 and Chapter 13 bankruptcy all have different processes and different implications and it is very important that you understand which one is right for you.
· You could inadvertently do something that constitutes bankruptcy fraud. For instance, transferring assets in the days or weeks immediately leading up to bankruptcy could be considered a fraudulent transfer and the transaction could be voided.
These are just a few examples of why filing bankruptcy without a lawyer can cost you. In addition to these issues, you simply will not have an advocate to guide you through meetings with creditors, creating a bankruptcy repayment plan or fulfilling all obligations imposed on you during the bankruptcy process.
Getting Help from a Pasadena Bankruptcy Lawyer
The bankruptcy code in the United States is complex and understanding personal bankruptcy and business bankruptcy is a significant challenge for a layperson who simply wants to resolve debt trouble. Bankruptcy also costs money to file- don't waste money that you do not have filing under the wrong chapter or otherwise entering into a bankruptcy case that is destined to fail.
The Pasadena bankruptcy lawyers at DCDM Law Group will assist in making sure you are informed and make the right decisions every step of the way. Instead of filing bankruptcy without a lawyer, contact us today to learn more about how we can help get you started on a brighter financial future.