Do I Need a Bankruptcy Lawyer?

As many people can personally attest, the economy in the United States is in an absolutely dismal state. As a result, numerous Americans are being forced to declare bankruptcy. If you are in this situation, then you may be considering not using a lawyer to save some money (if you are considering bankruptcy, you obviously don't have extra money to burn). However, this article is going to show you why you should use a lawyer to assist.

As you can imagine, filing for bankruptcy is no easy matter. While it may have been easy in the past (prior to 2005), it no longer is. Back in 2005, the Congress made it significantly harder to file for bankruptcy. So much so, that many lawyers have had a hard time getting up to speed.

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Just in case you are still considering filing without a lawyer, it is important to note that the new bankruptcy laws require you to use a lawyer to file bankruptcy.

Now, you may be wondering why Congress would do that. Part of making the bankruptcy laws tougher means that the courts want to ensure only people who truly need to are filing bankruptcy. Therefore, one of the new responsibilities for a bankruptcy lawyer is that he or she must certify everything you state in terms of assets.

Let use a quick example. In the past, if you claimed you had no assets, but you really had $300K in assets, you lawyer wasn't liable if you were caught. Now, you lawyer must verify your information; otherwise, they can be held liable.

In conclusion, while it may sound like a good idea to try to undergo the bankruptcy proceedings without a lawyer, you will have to use one. While this may sound like bad news at first, the reality is that having a lawyer will make your life easier in the long run.

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