"He who represents himself has a fool for a lawyer."
... Abraham Lincoln

Filing Bankruptcy

Bankruptcy is a process that can be completed by a non-lawyer. The bankruptcy forms are readily available. It is possible for a lay person (e.g. a non-lawyer) to complete the forms and file for bankruptcy. However, like anything else you frequently don't know what you don't know. It is also easy to fill out tax forms yourself and many people do it. Yet, there are a number of things that can go wrong when taking the do it yourself route:

• Failure to completely specify and select exemptions. This could expose your assets to creditors that could in fact be protected through the bankruptcy process.
• Attempting to transfer assets prior to the bankruptcy process, resulting in punitive action fromt he bankruptcy court.
• Failure to include items including trust funds, lawsuit proceeds, tax refunds, retirement funds, partnerships and stock options
• Underestimating living expenses
• Failure to list and specify all creditors

Bankruptcy Forms

The "Simple Case"

Tens of thousands of bankruptcies are filed each year. Many of these cases are very straight forward in that they are a simple Chapter 7 Bankruptcy which does not require the debtor to repay his/her creditors. A well organized and meticulous person can complete the forms and successfully apply. However, the Congress of the United States has instituted ammendments to the bankruptcy law. The process will become more complex and difficult on October 17, 2005. A mistake made by an individual filing for himself/herself could be extremely costly.

Bankruptcy Forms

The "More Difficult Case"

Chapter 13 Bankruptcy is generally a more complex process because it partially protects assests while requiring the debtor to repay the creditors. Regional or local rules and practices frequently enter into Chapter 13 bankruptcy.

The bottom line is that you are much more likely to need a bankruptcy attorney if you have more to lose. Think carefully on filing for bankruptcy yourself. It does not hurt you to interview some attorneys to get a sense as to how complex your case is.

Bankruptcy Forms