What If You Want To File Illinois Bankruptcy By Yourself?

Can you really file Illinois bankruptcy by yourself

? Sure. Would I suggest it? No. While you may be thinking that filing by yourself can save you time and money, you may not have thought of the most common traps that keep people from having a successful bankruptcy.

Determining if you are eligible to file is your first hurdle. You must first determine which chapter is right for you: Illinios Chapter 7 or Illinois Chapter 13. If you choose to file an Illinois Chapter7, you must complete the means test and pass the other various requirements to even file your case. If you've determined that an Illinois Chapter 13 is best for your situation, there are many more additional requirements like meeting income requirements and making sure you are under the caps for both secured and unsecured debts.

The difficulties don't end there. You must attend a 341 meeting (or creditors' meeting), prepare massive amounts of paperwork, and make sure that you don't break any rules during your case that could cause your case to be dismissed. Plus, you must do enough research to determine how to handle the big questions and hurdles you'll face with the trustee. How will you protect your property? Which debts can you get rid of? Can you add a creditor if you've forgotten one?

Any little mistake could cause your case to be dismissed, leaving you without protection from foreclosure, credit card debt help, or a way to stop your wage garnishment. That would leave you with a bankruptcy on your credit report yet no help with your debts.

People who file Illinois bankruptcy with an experienced Belleville, Illinois bankruptcy attorney often do so because they aren't prepared to take those risks. I'm not saying that you can't file Illinois bankruptcy by yourself but I do want to make it clear that it won't be easy.

If everyone had an easy time filing Illinois bankruptcy by themselves, there wouldn't be any need for Illinois bankruptcy attorneys. It's that simple.

Don't jump right in without first looking and the up and down sides. You may even end up spending more money on mistakes made while filing by yourself than you would had you hired a bankruptcy attorney. It will certainly cost you more time. And how much is your time worth? Probably quite a bit. The financial safety of you and your family isn't just a cracked window or flat tire. Trying to patch it up by yourself may be too big of a risk for you and your family.

by: Jim Brown

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