Monday, August 22, 2011

Considering filing for Chapter 7 bankruptcy in Arizona yourself?

Some people find themselves so broke they decide to file for bankruptcy without seeking out the help of a lawyer. As a bankruptcy lawyer, I see all too many sad cases where someone files for bankruptcy pro se and ends up with unfortunate results. Approximately 50% of bankruptcy petitions filed by pro se petitioners are thrown out! The bankruptcy laws are vast and complex, and any little mistake can get your bankruptcy thrown out of court or you could lose valuable property. It takes lawyers years to learn all the ins and outs of the system.

If your bankruptcy petition is thrown out due to a mistake, it will cost you several hundred dollars to get it reinstated. If the court finds out about an asset you failed to protect, that asset could be seized from you and split up among your creditors. Too many people who file their own bankruptcies end up losing a car, investment money, or worse.  

Fortunately, the cost to file bankruptcy has come way down. I charge clients the low price of $995 to file Chapter 7 bankruptcy, plus a $299 court filing fee. My clients are able to come up with the money to pay me because they stop paying on their credit cards and other debts that will be discharged in the bankruptcy.



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