Do It Yourself Chapter 7 Bankruptcy

[simpsontruckdriver]

Has anyone done it by themselves without going through an attorney? I found out I could print all the forms, and due to our pay being below the poverty line (I'm still unemployed), the filing fees are waived. In other words, I don't have to pay anything. After all, I have nothing, and we need to get our debts out of the way (over $50k). I need to know what to look out for when filling out all the forms.

TS

 

[ronparise]

Has anyone done it by themselves without going through an attorney? I found out I could print all the forms, and due to our pay being below the poverty line (I'm still unemployed), the filing fees are waived. In other words, I don't have to pay anything. After all, I have nothing, and we need to get our debts out of the way (over $50k). I need to know what to look out for when filling out all the forms.

TS

Catch 22...it takes money to hire a lawyer and file bankruptcy, but a guy thats bankrupt has no money.

I bought one of the books with all the forms. and filed a chapter 13 myself. and Chapter 7 is easier and less is involved...so yes, you can do it yourself. I did it to delay a foreclosure sale, and it worked. The sale was scheduled for a Friday, I drove to Tampa to file the bankruptcy on Wednesday, and back to Ft Myers to submit my case number at the clerk of courts office there and my sale was pulled from the docket> giving me time to negotiate a resolution of my mortgage mess. Once that was done I withdrew the bankruptcy action but have no doubt that if I wanted to I would have worked through it successfully on my own.

 

[Passepartout]

Can you do it? Sure. Is it smart? No. You can do your own root canal too. Is that smart? Doubtful. Even a barber doesn't cut his own hair.

Part of getting a bankruptcy done involves writing schedules and declarations. Unlikely that any lay person can do these accurately and completely. There are no do-overs if they are wrong. Once the petition is filed, you don't get a chance to amend or even back out. There are so many opportunities for self-inflicted harm that you will never get any relief. How about the Federal Judge and BK trustee who can/will seize your assets and liquidate them to satisfy debts.

As a for-instance. Let's say you have gone to the 'bank of Mom' for some help within the last year. You have been diligent in paying her back a bit each month. But you have let some credit card payments slip by. The BK Trustee can/will go to Mom and ask for every penny you've repaid her to be applied to your cc debt. If she doesn't have it, judgement will be sought against her. You don't want that, so you tell the judge you'll just drop the BK. Not possible. Once the petition is submitted, you can't terminate it.

Long story short. Don't do it. Get professional help.

Best wishes.

(full disclosure: my DW is a BK attorney with over 30 years practice)

Jim

 

[bogey21]

I don't know enough about filing bankruptcy to give you a definitive answer but here is how I would approach it.

I would start the process by getting the forms. Then I would research the heck out of it and take a shot at completing the process. If you ultimately determine that you are in over your head and need professional help, the work you will have done will be invaluable as you will better understand what you are being told and better understand the information you are being asked to provide.

George

 

[natasha5687]

I have helped 3 different family members file chapter 7 bankruptcy without any issues at all. With that said they did NOT have assets that they were trying to protect. The paperwork was pretty straigt forward (time consuming). Each time I obtained the complete packet for my state from Staples. The newer ones come with a step by step instructional DVD. If you are trying to save a home I would suggest hiring a lawyer, otherwise I would file it and move forward. The actual court hearing will take about 10-15 minutes and is just some very basic questions. Also note you must be current with tax filing. Another note is that even if you do not see a debt on your credit report you can and should still include it in the schedules, this includes personal loans as well.

 

[Beaglemom3]

The Florida Bar - Pro Bono Resources: (the link takes a while to open)

http://www.floridabar.org/tfb/TFBCo...6B61000928DC/A99E4C9F07844AC385256FF90073D012



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[simpsontruckdriver]

I actually found that about pro bono bankruptcy, but as you could guess, they are booked solid! I'm waiting to hear back from them. In that case, they help with filling out the paperwork (the worst part of filing), but actual filing and the court case is on the bankrupt person.

TS

 

[Beaglemom3]

I actually found that about pro bono bankruptcy, but as you could guess, they are booked solid! I'm waiting to hear back from them. In that case, they help with filling out the paperwork (the worst part of filing), but actual filing and the court case is on the bankrupt person.

TS

I wish I could assist you, but it's not my specialty.
I hope you get through this without too many dings.

 

[jfbookers]

Not just any lawyer

While is possible you could do it yourself you could also just make a bigger mess of things with any one error.
I think you need an attorney who dose little but debtor/creditor law. I think most general practice lawyers have or will learn to avoid bankruptcy and refer those questions to a specialist.
Good luck,
Jim

 

[Passepartout]

In case you want to have professional help, the experts are members of Nat'l Assn. of Consumer Bankruptcy Attorneys. Www.nacba.org They have a referral function too. Please don't do this alone. BK practice is just full of pitfalls that can cost you far more than what a qualified attorney will charge.

Lawyers have a saying: A person who represents himself has a fool for a client.

Jim

 

[momeason]

If you were here, I would hire you for open enrollment. Maybe you could find an agency who needs help during open enrollment. The new agency I am working with pays well. Last season I worked with an agency who did not pay well.
I am recruiting and training new agents now for my new employer.

 

[bastroum]

There are only 3 reasons to file bankruptcy:

1, You want to protect real estate from foreclosure.
2. You are about to inherit a lot of money.
3. The cost of litigation on your bad debts are greater than filing bankruptcy.

If you really have nothing, bad debts drop off your credit report in 7 years, bankruptcy is on of 10 years.

Something to think about.

 

[pgnewarkboy]

There are only 3 reasons to file bankruptcy:

1, You want to protect real estate from foreclosure.
2. You are about to inherit a lot of money.
3. The cost of litigation on your bad debts are greater than filing bankruptcy.

If you really have nothing, bad debts drop off your credit report in 7 years, bankruptcy is on of 10 years.

Something to think about.

You have raised an excellent point. The first questions the OP should be asking are " Should I file Bankruptcy, What are the consequences, Can I avoid bankruptcy" Basically, the filing of the forms is the least important matter. An attorney is likely the best person to help you sort through these issues.

Attorney's are not form filers.

 

[Brett]

There are only 3 reasons to file bankruptcy:

1, You want to protect real estate from foreclosure.
2. You are about to inherit a lot of money.
3. The cost of litigation on your bad debts are greater than filing bankruptcy.

If you really have nothing, bad debts drop off your credit report in 7 years, bankruptcy is on of 10 years.

Something to think about.

good point, if you have no assets then what's the worse?
debtors prison was abolished in the 1800's

OP - I have the epub ebook NOLO "How to file Chapter 7 Bankruptcy"
(never used it !)