Common Problems that Can Result from Filing Bankruptcy on Your Own
If you are considering filing bankruptcy in Milwaukee, you are likely concerned about the costs and fees. While this is understandable, the cost of hiring an attorney may be cheaper in the long-run than dealing with the problems that can result from filing on your own.
Choosing the Wrong Chapter
Most individuals file under either Chapter 7 or Chapter 13. There are significant differences between the two chapters, including the qualifications and how each treats personal property. It is important to choose the right chapter to ensure that you are achieving your debt resolution goals.
Failing to File Proper Paperwork
Bankruptcy is governed largely by federal law, but your case will be handled by a court in your area. Often times, these courts have local rules and forms that you will need to understand to file your paperwork properly.
Losing Your Property
The process is all about details, especially when it comes to property exemptions. If you list your property incorrectly or do not value it properly, you may be at risk of losing property you are trying to save.
Getting Your Case Dismissed
Bankruptcy law is complex, and it can be very easy to miss pertinent issues. While the mistakes can be minor and easily corrected, some mistakes will result in the delay of your case or a dismissal of your filing. In many cases, the bankruptcy court will impose a penalty of 180 days before you can file again. In the meantime, you are left to deal with your creditors and mounting debt.
Do not become a victim of one of these common pitfalls. Consult Attorney Michael Burr today to learn more about your options for filing bankruptcy in Milwaukee. At Burr Law Office, we focus on helping individuals who are looking to file Chapter 7 or Chapter 13. To speak with Attorney Burr call our office at (877) 891-1638.