Do I need a lawyer to file for bankruptcy?

Only businesses and corporate bankruptcy filers are legally required to have professional legal representation. Personal bankruptcy petitioners are not required to have a lawyer, but are highly encouraged to do so. Plus, most bankruptcy attorneys will offer a free consultation, so it makes sense to talk to a few. That being said, the US Bankruptcy Court says this on the subject:

"It is very important that a bankruptcy case be filed and handled correctly. The rules are very technical, and a misstep may affect a debtor's rights. For example, a debtor whose case is dismissed for failure to file a required document, such as a credit counseling certificate, may lose the right to file another case or lose protections in a later case, including the benefit of the automatic stay. Bankruptcy has long-term financial and legal consequences - hiring a competent attorney is strongly recommended." - http://www.uscourts.gov/bankruptcycourts/prose.html

Advantages of Hiring an Attorney

There are definitely advantages to having your case handled by a qualified bankruptcy attorney. These lawyers can help you keep as much of your property as possible if you are thinking about filing for chapter 7 bankruptcy, while making sure as much of your debt as possible is discharged through the bankruptcy. Here are some things a bankruptcy lawyer can help you with:

• Stop a Foreclosure and Keep Your Home
• Find Ways to Keep Other High Ticket Items Like Automobiles
• File the Petition and Schedules Accurately, Avoiding Dismissal
• Develop a Legal Strategy to Expedite Your Discharge
• Advise You on Pre-Bankruptcy Planning
• Help Protect Your Co-Signers
• Make Sure Creditors Cannot Sue You at a Later Date

It always makes sense to talk to a few lawyers to find out what the legal fees are, and ask them what they can offer you in terms of financial and legal protection.