Filing Bankruptcy Petition

Filing bankruptcy petition can be done in three ways

. The first way is to do it all by yourself. This can be a cheap way to do things but this also takes a longer period of time. You have to be familiar with the bankruptcy law and how the system works. If you are new in the world of bankruptcy then you might take a lot of time trying to digest all the information you will learn. This inexpensive way of filing bankruptcy petition is only advisable to take for those people who are fast learner and can do things on their own.

The second way of filing bankruptcy petition is to hire a petition preparer. This is an affordable way of having your petition papers done rightfully. You will just need to pay their flat fee then you can do all the rest by yourself. When you do decide to file bankruptcy petition by hiring a petition preparer, make sure the person who prepares your document comply all the legal requirements of the bankruptcy law, especially the new changes effective last October 2005 under the BAPCPA. The job of petition preparers are specified as persons who fill information in the bankruptcy forms for you. You cannot ask legal advice from them because only bankruptcy lawyers can do it which I will explain the next paragraph. Petition preparers cannot represent you in court or receive payment on your behalf.

The last way can be recognized as the most convenient way to file bankruptcy petition. You can hire a good bankruptcy lawyer to do all the work in filing for your bankruptcy petition or you can just hire him to prepare your documents and do the rest of the work by yourself. The fee in hiring a bankruptcy lawyer will depend on several factors. The amount you will need to pay will depend on how a bankruptcy lawyer will charge you, most charge a high fee. Other bankruptcy lawyers will do a legal aid that in most cases are free of charge. The last factor that can affect how much you will spend on a bankruptcy lawyer is what work will you give him, you can pay a bankruptcy lawyer for just preparing your bankruptcy petition documents or you can pay the bankruptcy lawyer to do all the work.

It is encouraged by many that people should hire a bankruptcy lawyer for several good reasons. They can guide you through the process, gives you legal advice, answer all your questions and represents you in creditors meeting. Although I also feel that hiring a full time lawyer is good, I do not recommend it for people who just cannot afford it. People being in a financial crisis and having to file a bankruptcy petition might get a little help if they can get to file their bankruptcy petition in an affordable way. You dont need a lawyer to file bankruptcy.

I suggest that you hire a petition preparer or a bankruptcy lawyer to prepare your documents and do all the rest of the work by yourself. This can be a good way to file your bankruptcy petition affordably. For more information on how to file bankruptcy petition affordably, visit the link below.

by: Steve

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