Filing for Chapter 7 or Chapter 13 bankruptcy correctly can yield several benefits. It allows you to eliminate or restructure overwhelming debt while giving you the chance for a fresh financial start. But this legal process is not something you should try to handle on your own.
While you can find many self-help legal forms online and at local document preparation services, an experienced attorney can give you sound advice. Learn more about the risks of filing for bankruptcy without the guidance of an attorney, and consider insights that many overlook.
Filing for bankruptcy is often the clear, responsible choice when overwhelming debt makes financial recovery an impossibility. But this legal procedure requires significant preparation, careful attention to detail, and a thorough understanding of bankruptcy law.
Even small missteps during the bankruptcy process can lead to delays or require additional steps to resolve. These issues may slow the progress of your case or result in the court asking for corrections before moving forward. Careful preparation and experienced guidance help keep the process efficient and on track from the beginning.
Federal Law Requires You To Enroll in Bankruptcy Classes
When you file for bankruptcy, the U.S. Trustee Program requires you to take two courses: a pre-filing credit counseling course and a post-filing debtor education class. Failing to complete these courses can have consequences, including the dismissal of your case. We do not suggest taking on this risk while eliminating your debts; these classes come with non-negotiable time constraints that your attorney can help you manage.
You have just six months to complete the credit counseling class and only 60 days after your final meeting with creditors to finish the debtor education course. Adhering to these timelines is essential if you want a bankruptcy court judge to discharge your debt.
You Can Face Charges of Bankruptcy Fraud
Bankruptcy is a legal process that requires complete and accurate disclosure. Serious issues can arise if assets are intentionally hidden, information is knowingly omitted, documents are destroyed, or debt is deliberately incurred without disclosure. These actions are treated as violations of bankruptcy law and can lead to significant legal consequences.
Bankruptcy fraud is taken seriously under federal law. If the court determines that a filing involves intentional misconduct, the matter may be referred for further review, and bankruptcy relief can be denied. In those situations, creditors may regain the ability to pursue collection outside of bankruptcy.
This is why accuracy, transparency, and proper legal guidance are so important. Working with an experienced bankruptcy attorney helps ensure your case is prepared correctly, complies with the law, and moves forward toward the relief you are seeking.
Why Working With an Experienced Bankruptcy Attorney Matters
There are numerous risks of filing for bankruptcy without an attorney, and this article listed just a few. Do not chance sabotaging your credit and your financial freedom.
At Walker & Walker Law Offices PLLC, we serve a wide range of communities across the state of Minnesota, and we are here to protect your interests. Reach out to our team today to schedule a free telephone consultation.