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Steps To Take Before Filing For Bankruptcy

Step 3. Get Help

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We strongly recommend that you hire an attorney before filing for bankruptcy. If you have not done this before, you are likely to miss something. In addition, things are likely to go smoother at the important first meeting of creditors if the trustee knows your lawyer or at least can see the expertise.

People who have gone through bankruptcy suggest that when choosing a lawyer, look for one who understands what a trauma going through bankruptcy can be. It is helpful to have a lawyer who sympthasizes with people going through the emotional stress of bankruptcy.

Check with your local community service organization to see if free legal assistance is it has staff or volunteers who will help with a bankruptcy filing.

If free assistance is not available, expect to pay about $400 to $1,000 or more in fees, depending on the complexity of your situation.

  • Be sure to discuss fees up front.
  • If you need to, ask if you can pay in installments.

If your situation does not have any unusual circumstances and you decide to file for bankruptcy without using a lawyer:

  • There are lots of bankruptcy do-it-yourself resources available on line or in stationary stores.
  • Before you proceed, it is advisable to at least get some general initial advice from a lawyer.

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