It is feasible to file for bankruptcy without legal counsel, and some people may advise you to do so if your situation is “simple” enough.
The only issue is: how can you know if your bankruptcy is straightforward? You can’t, at least not without any doubt. Don’t you want to be sure that every single detail has been carefully taken into account when it comes to a crucial legal process that will have an impact on your financial future for years to come?
You do, of course. For this reason, you must retain the services of The Law Offices of Paul Y. Lee by calling us at 951-755-1000.
Avoid common filing errors by working with a lawyer
There is always a chance for error when you try to fill out the bankruptcy petition on your own or with assistance from anybody other than an experienced bankruptcy attorney, regardless of the type of bankruptcy you are considering or how straightforward you believe your financial situation to be.
Trusting The Law Offices of Paul Y. Lee with your case could help you avoid certain typical filing errors like the ones listed below:
Filing under the incorrect chapter: Chapter 7 and Chapter 13 personal bankruptcy are the most typical varieties. While Chapter 13 establishes a repayment schedule for your debts, Chapter 7 enables the elimination of all unsecured debts. It goes without saying that you would not want to file the incorrect paperwork or have your Chapters jumbled up as this could prevent you from receiving the necessary relief.
Making a mistake with the means test: If you wish to file under Chapter 7, your income must meet certain requirements; if it is too high, you will not be eligible. It is better to leave the California means test to a professional due to its complexity.
Making the incorrect exemption selection: Selecting the incorrect exemption list is another common error people make when attempting to file independently. This may prevent you from receiving important protection for your house or other assets during the bankruptcy process.
Right before filing, paying off creditors or transferring assets: When you can file for bankruptcy is subject to a number of extremely particular rules. Your petition can be turned down, or the other creditors might decide to initiate a lawsuit, if you file too soon after giving assets to a relative or paying back one of your creditors.
Making mistakes on any part of the paperwork: A petition for personal bankruptcy typically needs 60 pages of paperwork and has numerous potentials for error. You might, for instance, estimate an asset’s value incorrectly or fail to disclose all of your holdings. Your case may get reopened if a mistake is found by the bankruptcy trustee, even if the error is initially overlooked and your petition is approved.
Why take a chance? Call us right away
Errors may, at best, cause your petition to be denied or delayed. At worst, they might result in charges of perjury or fraud. Why take a chance? Call The Law Offices of Paul Y. Lee at 951-755-1000, then let the experts handle the situation.