Filing your bankruptcy case seems to be the right idea of saving the fees of a bankruptcy attorney but it often proves costly down the road. However, you need to understand the actual logic behind this.
First off, every person who has gone bankrupt is legally entitled to filing for bankruptcy. Some may go it alone while others may hire a bankruptcy attorney.
There is no doubt that you can save the fees of your potential attorney subject to the condition that your case is simple or your case is not very complicated. Even though saving money by going it alone seems to be a good idea apparently but that is not always the case since it might backfire on you because an average person often fails to understand complex legal terms.
There are two situations when it may cost you more than going it alone:
In the event that your case is associated with Chapter-7 accompanied by valuable assets
In the event that your case can be filed under the bankruptcy chapter-13
How can you save hiring a bankruptcy attorney?
A bankruptcy attorney is quick to notice anything abnormal during the entire course of bankruptcy and deal with it without making undue dangerous delays
Bankruptcy alternative: It is important to mention that filing for bankruptcy is not the only solution or the last resort.
In case your bankruptcy attorney understands that there is no need for filing bankruptcy as you can manage your affairs or reduce your debts without filing a bankruptcy, your bankruptcy attorney will advise you try a bankruptcy alternative.
Bankruptcy type: Chapter 7 and chapter 13 are not for the same objective. If you have not paid some mortgage payments, chapter 7 can’t help you save your house even though it can help you reduce some burden of debts from your shoulders.