Many of us double as handy-men when something around the house goes wrong but what do you do when you get into trouble with your debt? When it comes to your financial future, a "do-it-yourself" approach may not be the best solution.
Many people think that it would just be easier and cheaper to file bankruptcy by themselves. Can't you just download Chapter 7 forms and an instruction manual and call it a day? Perhaps, you are thinking that it will save you money or that you can avoid having anybody find out that you filed bankruptcy. But, if you really research the process, I think you'll find that there are a lot of errors that can be made that may cost you more money and keep you from actually getting any relief.
The first mistake often made by people trying to file by themselves is the paperwork. Sure, it seems simple, but if you leave a creditor off or fill out the chapter 7 or chapter 13 forms wrong, you will still be held responsible for that debt even after your bankruptcy is finished. The bankruptcy court must know exactly how much debt you are under in order to make a plan that will truly help you. Then you will have to pay back that debt that was left out without the protection of the bankruptcy court. What does that mean? You could still be getting harassing creditor calls and wage garnishments and, if the loan is tied to your home, you could even be facing foreclosure.
The complicated bankruptcy process in Missouri and Illinois also causes people to make mistakes when filing by themselves. Do you know which debts can be discharged or which property needs to be included? One minor error can cause your case to be dismissed and leave you with a bankruptcy on your record--without the benefit of eliminating your debt. You might just have thrown away any money you had spent trying to get a bankruptcy in the first place.
Instead of asking yourself, "Can I afford bankruptcy?" you may want to ask, "Can I afford to do it wrong the first time?" You could end up spending just as much or more money than you would have if you had just found an experienced St. Louis law firm with a capable Missouri or Illinois bankruptcy attorney. So, before you decide you want to try and negotiate with your creditors and the court, attend hearings, and manage your debt alone, think, "Can I afford to risk it?"
Missouri Bankruptcy attorney James Brown has been working to relieve the debt of hard-working American families for over 15 years. He has dedicated his career to educating consumers about options for debt relief and has released 5 publications, including, "Get Out of Debt: Secrets Your Creditors Don't Want You to Know." You can request a free copy by visiting his website at http://www.CastleLaw.net .