Can I File for Bankruptcy Myself or Do I Need an Attorney?Dallas Legal News
If you decide to move forward with bankruptcy for your business, you might wonder if it is best to have an attorney on your side through the process or if it is better handled on your own. If you decide to move forward with bankruptcy without an attorney, you are filing “pro se.” When it comes to bankruptcy, there are many complicated laws and procedures that a person must remember, which is why it might be a good idea to have an experienced attorney on your side. You want to ensure that you are carefully preparing for legal issues that might pop up along the way. Today we want to talk about the many reasons why it might be a good idea to have an attorney on your side.
Handling Bankruptcy on Your Own
Despite the fact that attorneys are always suggested in these cases, you might be surprised to find that 28% of bankruptcy filings were by litigants who filed on their own without the help of an attorney. Many of these people, however, file by themselves because they think that they can’t afford an attorney, completely unaware of how disastrous it can be to handle a case on their own that they don’t understand. In fact, it is important to remember that you might be faced with other options aside from bankruptcy depending on your particular situation, but you will not know this without speaking to an attorney about your case.
One of the biggest issues that comes up in many bankruptcy cases involving businesses are assets and property. If you file for bankruptcy, your trustee might be able to take your personal property and sell it, using the proceeds to pay back the creditors. Bankruptcy can turn into quite a daunting task to handle on your own and you might find that there is much more court oversight and intervention when you are doing it on your own. You don’t want to be taken advantage of, which is why you need to be careful in these types of cases so that you don’t lose out.
If you are willing to deal with scrutiny by the court and all of those involved with the bankruptcy process, you might consider bankruptcy on your own. However, many people will find that there is too much to handle on their own and see it as their only option.
How an Attorney Can Help
Here are just a few of the ways that an attorney can support you and help you through this difficult and complex process if you decide to put your trust in the hands of an attorney:
- Get you started on the opening procedures in bankruptcy cases
- Advise you on which chapter of bankruptcy is right for you and your business
- Advise you of the consequences and benefits of filing
- Help you complete and file all forms
- Assist you with all other aspects surrounding your bankruptcy case
Bankruptcy can be an extremely complicated time as well as one of the scariest things you might ever endure. At M.J. Watson & Associates, our experienced bankruptcy professionals concentrate on these specialized services to help you with your business when you believe that bankruptcy is your best option for moving forward. We want to have a huge impact on reducing your company’s debt and helping you work through the most difficult aspects of your Texas bankruptcy process. Please contact us to find out how we can assist you at 214-965-8240.