Generally, people who are considering filing for bankruptcy protection are facing large debt loads or other difficult financial situations. It makes sense that you would take into account the cost of hiring a bankruptcy attorney when considering whether you can afford to file for bankruptcy protection. Some may believe that a bankruptcy attorney is not affordable, after all, money is tight and extra money is hard to come by for new expenses. But, the real question should be whether you can afford not to.
In Florida, and throughout the United States, individuals can file for bankruptcy themselves, without the assistance of an attorney. This is called filing 'pro se.' But, statistics have shown that those who do file without the assistance of an experienced bankruptcy attorney risk:
- Having their case dismissed without debts being discharged,
- Missing exemptions that may have saved much of their property, or
- Coming through bankruptcy without discharging all eligible debt.
Keep in mind that a bankruptcy appears on your credit report once the case is filed, not once completed. Getting the process right the first time, with the help of a knowledgeable bankruptcy attorney, may help you get a fresh start and back on your feet sooner by avoiding delays related to paperwork or court deadlines.
Considering bankruptcy can be a tough decision. But, consider this: the money spent on your bankruptcy attorney may be made up by the amount of debt you are able to discharge through a properly completed Chapter 7 or Chapter 13 case.
Understanding the Benefits of a Florida Bankruptcy Attorney
There are many benefits to hiring an experienced bankruptcy attorney, including:
- Ability to efficiently and correctly complete all necessary forms
- Ensuring that all filing and court deadlines are met
- Working knowledge of all federal bankruptcy rules, applicable state law and local court rules
- Understanding, based on specifics of a person's situation, what bankruptcy chapter to file under
- Knowing what property is exempt from bankruptcy
- Assisting with the means test
- Representation at the 341 Meeting of Creditors
There is a lot of information publicly available about bankruptcy on the internet, at your local library or at a book store. But, the guidance, peace of mind and personal service that you will get from an experienced bankruptcy attorney cannot be found in any of these sources.
Many bankruptcy attorneys will offer a free initial consultation to discuss your financial situation and what your next steps should be. Take the time to sit down with a Tampa bankruptcy attorney to learn how a Chapter 7 or Chapter 13 filing may be the best next step for you.
Given all the information available to you, did the question change from "Can I afford a bankruptcy attorney?" to "Can I afford not to have a bankruptcy attorney?"
