Filing Bankruptcy without a Lawyer is not Wise
Des Moines, IA (Law Firm Newswire) September 7, 2012 – Filing for bankruptcy is not an easy process. It is a smart move to work with an Iowa bankruptcy lawyer.
Filing for bankruptcy protection is an agonizing process. It takes a lot of thought and consideration about the consequences and whether filing for bankruptcy is truly necessary. Most people choose to file for bankruptcy by working with a competent bankruptcy lawyer, but there is the option of filing pro se. However, filing pro se still means having a good knowledge of the applicable laws, says Iowa bankruptcy lawyer Kevin Ahrenholz.
For those attempting to file on their own, they need to start by making a complete list of creditors, what is owed them and their contact information. The debtor must also get a copy of their credit report from the top three credit reporting agencies. This is helpful to assist the debtor to match their information with what has been reported by creditors. There is a good chance the reports do not list all of the current or past due accounts. If any incorrect information is discovered, follow through with the dispute process to correct the file.
Debtors also need to provide a complete list of all of their bank accounts and other relevant banking information to the courts. They need to include information on retirement plans, assets and any savings they may have.
It is imperative that debtors attempting to file for bankruptcy on their own understand their state’s specific bankruptcy laws, as each state has its own laws.
Nonetheless, all states do adhere to the federal guidelines. Know the process in the state of residency, as bankruptcy has a long-term impact on the debtor. Being well informed of the consequences of deciding to file for bankruptcy helps debtors to understand how they are affected by the process. It is helpful to know the U.S. Bankruptcy Code, local bankruptcy laws and the Federal Rules of Bankruptcy Procedure before attempting to file pro se, according to Ahrenholz.
When filing pro se, debtors must also determine which Chapter they need to file. Once again, there are a plethora of choices, all with different potential outcomes. If filing pro se is not something a debtor wants to consider, contacting a good Iowa bankruptcy lawyer makes the most sense.
Kevin Ahrenholz is an Iowa bankruptcy lawyer and Iowa bankruptcy attorney. To contact an Iowa bankruptcy attorney, Iowa bankruptcy lawyer, or set up an appointment, visit http://www.iowachapter7.com or call 1.877.888.1766.
309 Court Ave., Suite 805
Des Moines, IA 50309
Offices in Des Moines, Cedar Rapids, Waterloo, Mason City, and Vinton.
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