If you have reached a position where, even with significant cut backs in your spending, you would be unable to repay your outstanding debts within three years, then you are probably in a position where you are considering the possibility of bankruptcy. However, even if you are absolutely certain that you do need to file and that you meet the criteria required, you should still avoid a do it yourself bankruptcy at all costs. You absolutely must hire a lawyer with experience and expertise in the field.
The lawyer will look at your situation from a legal standpoint and take into account the experience he has had in previous cases and he will be able to advise you accurately. You could even be shocked to find that bankruptcy is not the best thing for you to do and finding out at this stage, as opposed to finding out too late if you attempt a do it yourself bankruptcy, will save you a lot of financial and practical hassle.
In 2005, Congress made a number of changes to the bankruptcy procedure and these changes have made the law notoriously complicated, even for legal professionals!! As such, a do it yourself bankruptcy is simply no longer the viable possibility that it once was. The law is continually evolving and even lawyers struggle to keep up sometimes. Without a legal background you will find it near impossible to understand the procedure fully and will therefore find yourself struggling hugely.
If your worry is the legal fees, take into consideration the fact that, if you are successful in filing, then you will have a number of debts eradicated altogether, thus freeing up funds to be able to pay the legal fees accrued during the process. Consider attorney fees and unavoidable expense if you want to succeed in filing.
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