Cheap Bankruptcy: Lawyer Not Required | project71.com

May 20th 2011 -

Do you know exactly how much is it to go bankrupt? Are you thinking of filing and want to find out ways you can save money in the process? If you answer yes to all questions, you?re right in reading this article. Bankruptcy filing can get quite expensive so we will discuss the ways to make it more affordable.

Each year, countless numbers of people consider filing for bankruptcy but they are unfamiliar with the process and the steps to take in filing their claim. Some have this vague idea from late night TV ads they see, ads promising debt relief in an instant. What people do not realize is that agencies like those exist to make a profit out of people with financial problems. They promote the wrong impression that there is a secret way to a painless and fast filing of bankruptcy claims. Actually, bankruptcy is available to everyone who needs it, with or without the help of a professional individual or agency. If you don?t have money to spare, you can file all by yourself so you can save bankruptcy related fees.

What happens when you go file by yourself and how much are you saving without a bankruptcy lawyer or financial expert to assist you? When you file by yourself, you?ll have to collect all your financial information and present them in detail such as your current income, assets, and liabilities. You will turn over your financial information over to your local bankruptcy court for evaluation and in turn, they will determine if you are eligible to make a claim. When the court gives its approval, you need to finish a credit counseling course to start rebuilding your credit rating.

Going by actual figures, expect saving around one to two thousand dollars if you file without a bankruptcy lawyer. Admittedly, there are many benefits if you hire a bankruptcy lawyer but the resulting charges make it very hard on most petitioners to do so. Nobody wants to get into more debt while trying to get out of it so it?s understandable to seek ways to file bankruptcy cheaply. One good way to get professional help without spending is through an initial consultation since most lawyers and financial experts usually give this service free. It?s a great way to get an expert to discuss your concerns with and get your questions answered about debt relief. Your consultation can put things into perspective and help you in making the best decision towards rebuilding your finances.

Tags: bankruptcy cheaply, how much is it to go bankrupt

Source: http://www.project71.com/business-finance/personal-finance/cheap-bankruptcy-lawyer-not-required

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