Online Calculator | Pro Se Filing Vs Bankruptcy Lawyer

Pro Se Filing Vs Bankruptcy Lawyer

Filing for Chapter 7 or Chapter 13 on your own is legally possible, but you may find that the process goes much better with the help of a bankruptcy lawyer. If you are at the end of your financial rope and need to file, carefully weigh the pros and cons of the two filing methods before making your decision.

Benefits of Pro Se

Filing on your own is called “pro se” filing. The main benefit to this option is the fact that you will not be paying an attorney for services. This is what causes most debtors to go this route, because they are already in a financial bind, and therefore have no money, they assume, with which to pay a lawyer.

By not purchasing things on credit that you can’t afford, you won’t be risking your financial health. One of the major causes of the downturn in the US economy is people buying things they should have never bought because they really couldn’t afford them.

Benefits of Using an Attorney

Hiring a bankruptcy lawyer gives you the benefit of having a professional in your corner. Attorneys have thoroughly studied all of the laws in your state and will ensure that every piece of paperwork is filled in correctly and filed on time. This can prevent your case from being dismissed on a technicality.

The bottom line is, you don’t want your debt payments to be anymore than fifty percent of your income. That may mean buying a smaller home or a less expensive car, but it’s better than losing the house or car in the end and starting out with nothing again.

It doesn’t mean that you can’t reward yourself. Look for free or inexpensive ways to give yourself motivation as you stick to your budget. Whether it be taking a few hours to yourself to do whatever it is you like (cash-free, of course) or cooking yourself your favorite meal. Rewarding yourself can help the process move along faster.

Then they end up defaulting on the loan, which costs more. Something so small as missing a few payments could make you end up in bankruptcy. Do whatever you have to do to remember to make your payments on time. Weather its marking your calendar or having the payments automatically drafted from your account; it will be worth the effort.

Using a lawyer ensures that things will go well if you are a qualified debtor. Failing to use an attorney could leave you with the burden of your debts and no protection. If this is a risk you are willing to take, then consider filling pro se. If not, then hire the services of a bankruptcy lawyer before you start the filing process.

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