You are thinking about filing for bankruptcy. Do you need an attorney for bankruptcy? The simple answer is it depends. There are two forms of bankruptcy for most consumers: a Chapter 7 and a Chapter 13. The first one is what is referred to as a discharge of your debt whereas the second one is called a wage earners plan where you discharge some of your debt, reduce the balances of some, and then pay reduced payments under court supervision. You will need to consult with a bankruptcy attorney at least once to determine which chapter is best for you given your particular circumstances.
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If the attorney recommends Chapter 13, then you most definitely will need to retain the services of an attorney. Another factor which will require the assistance of an attorney is if you house is facing foreclosure. For most people, their house is their most valuable asset and you do not want to risk losing it so a lawyer is of critical importance in this regard.
In addition, if you are involved in lawsuits you will need to retain an attorney to prepare and file notices to the court that you are in bankruptcy and later motions to either dismiss the cases or have them transferred to the bankruptcy court.
If you main concern is not a house but your automobile, then you can probably get by without an attorney. Most car finance companies will send you a reaffirmation agreement when they receive notice of your bankruptcy filing. Of course, you should take the initiative and ask for this from your car finance company. This agreement will allow you to retain your automobile and will also provide for the payment of any past due amounts. Be careful that you participate in the terms of the agreement so you do not sign something which requires you to make payments which you cannot afford to make.
Please be aware that this article is intended for general information purposes and not as legal advice. You should always consult with an attorney of your choice to discuss your particular situation.
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