An individual can file bankruptcy without the help of an attorney but it's usually the most difficult situation. Corporations and partnerships should have someone (attorney) to help them in a bankruptcy case. Even though hiring a lawyer is not compulsory, it is highly recommended because the process of bankruptcy is very complicated. It's for your own good if you hire someone to help you regarding bankruptcy cases. Anyway the typical lawyer's fee ranges from $1,600 to $2,000. So it's best to think about whether or not to hire a lawyer.
You should ask yourself if filing for bankruptcy without a lawyer is the best option for you. Here are some guidelines for filing bankruptcy without a lawyer. Firstly, find out what you need to file. Chapter 7 is the best way in liquidating all your debts from assets like real estate to boats and automobiles. The converted cash from the liquidation will be given to the creditors to pay back your debts. Chapter 13 will let you pay your debts in a period of time (three to five years) depending on your agreement with the collectors. This chapter also authorizes the collectors to obtain your non-exempt assets. After deciding on the type of bankruptcy you will be filing, you will need to go through the filing process itself. First, fill up an application form including all your personal information, current financial activities, secured and non-secured debts, assets, creditors, tax returns, and all other related information. The form will be more or less 20 pages long, and will also serve as your petition to be filled in your local court. Follow the necessary instructions for passing the application forms and keep one copy for the future reference. This way, the creditors will stop contacting the debtor for at least a month and will give ample time for the court to handle the case, preventing the creditors from taking the property of the debtor. After filing, the debtor, creditor and the judge will meet to settle all the problems.
Filing for bankruptcy is a crucial case. Just a simple offense might affect the debtor, so the case should be handled carefully. Each bankruptcy cases is audited in any way to distinguish the accurate and complete information given by the debtor. Remember fraudulence is a crime.