It is totally lawful to file for Chapter 7 bankruptcy in Georgia without an attorney. However, while nothing in the United States Bankruptcy Code will certainly prevent you from starting a bankruptcy case without legal representative, it is risky in terms of money not to use the help of an experienced lawyer like James M. “Jack” Setters.
Dangers Of Filing For Chapter 7 Without An Attorney In GA
Declaring bankruptcy yourself is called filing “pro se.” Declaring pro se is legal, yet strongly discouraged. Prior to filing Chapter 7, be aware of the dangers of filing for Chapter 7 for your personal economic defense.
Danger # 1– Chapter 7 may not suit for your financial situation.
If you’re having trouble with excessive debt, you have to take action. However, that doesn’t suggest submitting Chapter 7 in Georgia is the proper way to handle the problem. Chapter 7 is specifically created for individuals with lower earnings and minimal assets, and also generally isn’t really the most effective way to stop foreclosure. If you have high earnings or would like to prevent foreclosure, it is better to file for Chapter 13 in Georgia, and even exploring some other alternatives to bankruptcy. Relying on the nature of your financial debts, you may be much better offered by a mortgage adjustment, debt consolidation, or various other non-bankruptcy alternatives.
Danger # 2– You may make a mistake while preparing documentation– and be penalized for it.
To create a record that you are filing for bankruptcy, there is a “bankruptcy petition” document. Nevertheless, the petition isn’t the only paper you should prepare. You’ll likewise be expected to send dozens of supporting records that list your every single debt, creditor and asset in extremely specific detail.
If you make a mistake or miss something, it could create costly delays in your case. If the mistake is huge, the bankruptcy court can reject your case altogether. The longer it requires to solve your case as well as obtain a discharge, the longer you will stay with a burden of financial debt.
Danger # 3– You can lose the property you could have kept.
The main function of Chapter 7 is to let bankruptcy court find a trustee to sell some of your property. The profits from the sale help to repay your creditors, and also most of your financial obligations may be eliminated. Personal bankruptcy “exemptions” can assist you stop your home or business from being sold — however only if you choose exceptions that are financially right. So choosing the incorrect exemptions might cost you thousands.
Danger # 4– Creditor Harassment
It’s enough only one creditor to throw a wrench right into your Chapter 7 bankruptcy case. For example, a lender might try to lift the automatic keep, which is just what protects you from debt collectors while your situation is pending. You should be prepared with an aggressive, trusted back-up plan in case of any type of dispute or problem.
Danger # 5– It may be more expensive
Prices for legal help could cause problem for those that are thinking about filing for bankruptcy. If you’re stressed over how much does a personal bankruptcy lawyer cost, please keep in mind:
Representing yourself is likely to cost you more than working with a Chapter 7 attorney in the future. Legal errors will cost you time and money, which is exactly what you have to avoid when the clock is ticking on your financial debts. Without an attorney, you are in more serious danger of missing out target dates, declaring the wrong chapter, misunderstanding the bankruptcy laws, filing the incorrect motions, etc.
Jack Setters understands that legal expenses are often a concern for our clients. We realize that you are in a difficult financial situation, and will work with you to find affordable payment options.
If you need any legal assistance connected with bankruptcy, please contact us for a free consultation.