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Online Info: File for Bankruptcy - 11 Bankruptcy Commandments - 9 of 11

By
Real Estate Agent with Sand to Sea Properties, Inc. BRE #01862676

Online Info: File for Bankruptcy - 11 Bankruptcy Commandments - 9 of 11

9. Thou shalt get the help you need with bankruptcy or other financial planning.

Note: When you consider whether to file for bankruptcy and start online gathering information, after starting your research, feel free to call me, bankruptcy attorney Laura Buchanan, at 323-686-5400 ext. 2 for more information.  As of the date of this post, one cannot simply file for bankruptcy online.  You need to file papers at the Court.  If you use an attorney, they will file electronically for you.

If you can handle the paperwork on your own and aren't making bad decisions because of stress, then buy a book (or books) that allow you to feel comfortable that you’ve addressed all of your critical issues correctly.  Online information about bankruptcy is helpful, but it's no substitute for a comprehensive book for learning about the ins and outs of filing bankruptcy. 

If you’re too stressed to make good decisions OR you know you’re not capable of handling these issues yourself OR you have significant cash or other assets that are not "exempt" in bankruptcy (meaning you have property that bankruptcy law won't let you keep), then get referrals to trusted, respected bankruptcy professionals and interview them, or at least pay for their advice on the hard to understand bankruptcy issues.  Try to step outside the situation and see if Abraham Lincoln was right when he said, "He who represents himself has a fool for a client."

The more money that you have at stake, the more money you're probably going to need to invest in dealing with your situation.  The cliche, "Don’t be penny wise and pound foolish" applies here.

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I recently attended an event where Bankruptcy Judge Maureen Tighe of the Central District of California explained that the bankruptcy court in this district is trying to figure out how to get more California debtors in the Los Angeles area to seek advice from attorneys.  This is because the statistics show that many debtors that "do it themselves" get bad results for themselves. 

By "bad results," I mean that when people represent themselves, they often fail to get the discharge of their debts -- which is the whole point of bankruptcy -- because they fail to file all of the necessary paperwork or they fail to fill it out correctly. 

If you have a lot of debt that you are eligible to discharge in bankruptcy, it makes sense to spend the time and money needed to get the discharge you're eligible for and to get your fresh start without that old debt weighing you down.

For the first Bankruptcy Commandment in this series of blog posts, click here.

For the second Bankruptcy Commandment in this series, click here.

For the third Bankruptcy Commandment in this series, click here.

For the fourth Bankruptcy Commandment in this series, click here.

For the fifth Bankruptcy Commandment in this series, click here.

For the sixth Bankruptcy Commandment in this series, click here.

For the seventh Bankruptcy Commandment in this series, click here.

For the eighth Bankruptcy Commandment in this series, click here.

This is the ninth Bankruptcy Commandment in this series.

For the tenth Bankruptcy Commandment in this series, click here.

For the eleventh Bankruptcy Commandment in this series, click here.

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Sincerely,

Laura Buchanan

We believe education and experience matter, and we work to advance your interests.  You can count on us to provide you with top notch service

Information is general and may not address your particular situation.  Do not rely solely on this or any information you find on the internet.  You should consult relevant professionals directly about your situation.

 

 

 

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