In the current economic situation that Americans are experiencing, do it yourself has become an everyday word for most people. Just ask any homeowner and they’ll tell you they spend most of their weekends at Lowe’s or Home Depot trying to figure out some project they can do on their own to save money. Saving money is good, but it also depends on what you’re trying to do. When it comes to medical services, doing anything on your own is probably not a good idea. Some people try to use homeopathic remedies along with going to witch doctors with poor results. The same applies to people suffering with unpayable bills. When filing for bankruptcy, it is probably best to be represented by an experienced bankruptcy attorney. However, it is possible to file for bankruptcy on your own. There are many websites online that offer bankruptcy forms, software, and even some offer kits to help people file for bankruptcy on their own.
Many people think they can walk into Barnes & Noble and buy a copy of Bankruptcy for Beginners, then go home and fill out the forms in one afternoon and submit them the next day. There is a problem, every bankruptcy case is different. Exemption laws vary from state to state, along with other landmines that the individual may not understand. The bankruptcy code was written by lawyers for lawyers and that’s why it’s complicated for an armchair quarterback trying to do it on his own.
After browsing the web for a while, a debtor might find a mess of do-it-yourself bankruptcy websites. Some of these sites offer a free media test online. DIYers take a few minutes to take the so-called means test to find out if they qualify to file for Chapter 7 bankruptcy. If the individual qualifies, they can continue to sign up for the service. If they don’t qualify, they’ll be told they’ll need to file for Chapter 13 bankruptcy. Sounds pretty easy, right? There’s a problem, most of these means test calculators don’t take into account enough information to get a complete picture of all the deductions and allowances a person filing for bankruptcy can use. Another problem is that a novice will not know if the data is up to date. Congress changes the median income required to file Chapter 7 bankruptcy at least once a year, and sometimes twice. If these websites are not updated regularly, the information you report may be incorrect. A person could go through all the hassle of filing for Chapter 7 bankruptcy and find out at the meeting of creditors that he doesn’t even qualify.
Lately, bankruptcy trustees have been attacking do-it-yourself bankruptcy websites. There is a fine line between giving legal advice and helping someone fill out their paperwork. At least, that is how they perceive it and last time I checked, they are in charge when it comes to filing for bankruptcy. To avoid all the fuss, it’s best to find a bankruptcy attorney to help you. They can give you legal advice and use bankruptcy exemptions to the fullest extent of the law in your area. When you consider the assets you are protecting, it really is a bargain. Skip the hours of headaches and call a bankruptcy attorney to see if it will work for you.