Should You File For Bankruptcy Yourself, Use A Petition Preparer, Or Hire A Lawyer?

The second most crucial thing you should do after you have made the decision to apply for bankruptcy is to decide who should be doing the actual legal filing. Filing bankruptcy requires a certain level of competence and the knowledge of bankruptcy law. Given your need to apply for bankruptcy, you have 3 choices on how you can achieve this filing. One is to do it yourself, second is to hire a petition preparer, and lastly is to hire a bankruptcy lawyer. Whichever option you have chosen has its advantages and limitations that should be noted.

Filing bankruptcy on your own

If you are already so desperate when it comes to money, then filing bankruptcy on your own seems like a logical thing to do as you will not have to spend a dime for some other's service fee. There are many downsides to filing bankruptcy on your own, mainly you need to know what forms to fill out, and what to fill out accurately. You might not realize now, but one simple mistake that you make can have a ripple effect affecting your bankruptcy petition. It can mean that your case can be delayed, or worst case scenario you will lose more than you need to unless you have someone who knows the bankruptcy law and can help you safeguard your assets.

Use a petition preparer

It is also possible to hire a petition preparer to help you with your bankruptcy filing. A petition preparer's main function is to fill out the appropriate bankruptcy forms for you. The petition preparer's does not do more than just filling out the bankruptcy form for you. The petition preparer cannot perform any of the following actions:

1. Provide you with any legal consultation


2. Represent you in the bankruptcy court/341 meeting


3. Cannot interpret any law even if they truly know what it implies


4. Cannot draft any legal documents for your bankruptcy case

As you can see, the petition preparer is nothing more than just a "paper pusher". The only good thing of using a petition preparer is that he or she knows what bankruptcy forms to fill out. The problem with hiring a petition preparer for your bankruptcy filing is because he or she does not have the legal qualifications to provide you with the adequate advice that you deserve. Do not use a petition preparer, it is just a big waste of time and money.

Get a certified bankruptcy lawyer

This is the only logical way if you are planning on filing for bankruptcy. Granted, it can cost the most, but it can only help you in the long run to hold more assets than you could with any of the previous alternatives. Another advantage of using a bankruptcy lawyer is that the lawyer would know exactly what the entire process entails. Through a bankruptcy attorney, you should be able to keep a lot more of your assets using the bankruptcy exemptions which otherwise could have escaped you using the previous methods of filing. By hiring a bankruptcy lawyer to do all the paper filings, you are removed from the potential mistake of mis-filing or just forgot to file a specific document. This is the ideal way you should be filing for bankruptcy. If you want to have a successful filing and subsequently a bankruptcy discharge issue to you, hire a bankruptcy to do the filing.

Even though you are in a desperate financial condition, it is in your best interest to seek the aid of a bankruptcy attorney. Only through your bankruptcy lawyer will you be to ride through the filing without much headache. The lawyer is also the one who can eliminate any mistake you might make in your filing which can end up costing you post bankruptcy. This bankruptcy attorney should also be able to reaffirm your questions and fear about bankruptcy. You should treat this bankruptcy with the utmost importance because this should be the only once in a lifetime event for you.