When you are under such financial strain that you are filing for bankruptcy, you might feel that paying a lawyer to help you is an unnecessary and unaffordable added expense. The law allows you to file without a bankruptcy attorney, so you may think it makes sense to manage the process yourself.
Although you can file pro se, you should be aware of the numerous risks of filing for bankruptcy in Fort Worth without an attorney. Our team of lawyers at Allmand Law Firm could compile the necessary documentation efficiently, offer wise counsel based on years of experience, and help ensure your bankruptcy proceeds without complications or delays. We offer payment plans that make working with us manageable as you reorganize your financial life.
Misstating Your Assets and Debts
When you file for bankruptcy, you must submit substantial documentation of your assets, liabilities, and expenses. There are stacks of forms to submit, some specific to your local jurisdiction. Without hiring the proper legal counsel to handle your bankruptcy case in Fort Worth, you might feel overwhelmed by the tasks necessary to begin the filing process, and you are at a higher risk of making a mistake.
The documentation of your financial status is essential to choosing the correct form of bankruptcy. Chapter 7 and Chapter 13 are different processes, and choosing the wrong one could waste your time and money. Critically, it could also delay the judge’s issuance of standing orders, which is the action that stops all collection activity, including foreclosure, repossession, and garnishment.
When you work with Allmand Law Firm, we review your situation thoroughly to determine whether bankruptcy is your best option and which form is right for you. We make sure you understand the process and what it might require of you, and we complete all the necessary paperwork with accuracy and efficiency.
Misunderstanding Exemptions and Cram Downs
Texas offers generous bankruptcy exemptions, allowing debtors to shield their homes and substantial personal property. However, there are strict rules about qualifying for the exemptions, and you may lose the benefits if you are not aware of the details.
Even if you think you qualify, you may worry that you cannot afford to make your mortgage payments. You may also be concerned that your vehicle is worth less than the balance on your car note.
We could review your circumstances and help you protect your most important assets by taking full advantage of the exemptions. In addition, a skilled attorney from our bankruptcy firm could modify your mortgage obligations or reduce your car payment through a process called a cram down, helping you avoid common risks of filing on your own in Fort Worth.
What Is the Biggest Risk of Filing Pro Se?
Filing for bankruptcy requires a lot from you, including taking a credit counseling course and attending numerous meetings, hearings, and conferences. Missing any of these obligations could endanger your case.
The biggest risk of declaring bankruptcy without the guidance of a lawyer in Fort Worth is exposing yourself to accusations of fraud. Sometimes, debtors try to shield assets by transferring ownership to family members or associates with no intent to deceive. However, a bankruptcy trustee or creditor might view a transfer as an attempt at fraud, which could lead to significant consequences.
As experienced attorneys, we could identify any recent transactions or transfers that might pose a risk to your case. We could also take affirmative steps to mitigate the issue, reducing the chances of a fraud accusation.
Contact Us To Avoid the Risks of Declaring Bankruptcy in Fort Worth Without a Lawyer
The risks of filing for bankruptcy in Fort Worth without an attorney far outweigh the benefits. Paying a lawyer to help you avoid debt might seem counterintuitive, but the money you spend on legal fees is worth mitigating any potential issues regarding your case. Call Allmand Law Firm today and schedule your initial consultation to discuss your bankruptcy options and learn about payment plans tailored to your needs.
