subject: Will Be Filing Bankruptcy By Yourself In Missouri Or Illinois Really Be Cheaper And Easier? [print this page] 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 google "Chapter 7 bankruptcy forms" and a how-to kit and do it in a few hours? Maybe you are thinking that it will be cheaper or more of a secret if you just file bankruptcy by yourself. 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.
Mistakes on paperwork is the first problem that people trying to file bankruptcy by themselves often run into. 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?"
