Personal Bankruptcy Bankruptcy

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jez_

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I'd like an opinion on whether you think that a chapter 7 bankruptcy should be filed by an attorney or is it basic enough that I could fill out the forms by myself and file it by myself. I have spoken with an attorney regarding my house and my daughters car that is in my name... So I do know that I can keep these items. This was the main concern for me. I worked in an attorney's office in Wyoming for 1yr. We didn't do many bankruptcy's so I am not that familiar with them.. Are forms self explanitory??
 
It's a very difficult question to answer, especially since we don't know your level of sophistication in this matter! The way I look at it, the more important and critical the service, combined with the higher value of a transaction, the more I'd want a lawyer's assistance. One might consider a personal bankruptcy an important matter and it also could be a good idea to get a consultation as to what the charge will be and then make a decision.

A bankruptcy is quite serious but if you have only a few simple assets, it might not be complicated and some of the do-it-yourself kits with detailed assistance might just do the trick. However, if you have a more complex situation and numerous assets, you might think of hiring an attorney.

I'll give you a good example of when I think it is and is not a good idea to use an attorney. If you are creating a will and your estate is worth $75,000, I think you'd have to be very stingy not to use an attorney to make sure everything is proper. If your estate is worth only $5,000 - $10,000 and you have two children whom you want to divide the propertly between equally, you might find it worthwhile to use one of the do-it-yourself kits. However, I'd say that a will is a very important and critical document so, if there is a question of whether to use an attorney, I'd use an attorney. You might find that a $5,000 transaction to purchase a car is not as critical as will drafting. Hope this makes sense to you.
 
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