Declare Bankruptcy

The process of filing bankruptcy can be drastically simplified by hiring a local, qualified bankruptcy lawyer. There are many rules related to the federal bankruptcy codethat make trying to file bankruptcy yourself extremely difficult. For example, each state has its own long list of bankruptcy exemptions, and the courtroom meetings can sometimes be difficult without the help of qualified legal bankruptcy counsel.

Declaring Bankruptcy

After you begin the process of declaring bankruptcy, your creditors are legally required to stop calling you. This is one of the largest benefits of filing bankruptcy. It offers you the ability to potentially repay your debts in an affordable manner, relieving much of the stress associated with falling behind.

File Bankruptcy

How long does it take to file bankruptcy? The process can take months. A qualified attorney can help you navigate the tiresome legal process. While it is possible to file bankruptcy yourself, some of the intricacies of the federal bankruptcy code and the local exemptions make hiring an attorney worth it. The stress relief can be worth it in and of itself.

Claiming Bankruptcy

There is technically no difference between “claiming bankruptcy” and “declaring bankruptcy.” Both phrases refer to the process of reducing or removing debts you may owe to creditors. The sources of the debt can come from many different areas of life such as medical bills, excess credit card debt or even store credit cards. Local bankruptcy lawyers can clarify which of these bills can be restructured and which can be completely forgiven — relieving quite a bit of stress.

File Bankruptcy Online

Consumers cannot really “file bankruptcy online,” but it is possible to be connected to a local attorney through a website such as Bankruptcy HQ. The website can connect you to a local bankruptcy lawyer who will provide a no-cost consultation regarding your financial situation. It’s one of the quickest way to determine if bankruptcy may be a viable option for you.

File Bankruptcy Yourself

While bankruptcy is not a joking matter, there is a scene from the NBC hit show “The Office” where the infamous office manager Michael Scott thinks he can file bankruptcy yourself by simply yelling “I declare bankruptcy!” We’d be fools not share this interesting remix of Steve Carrell’s portrayal of the famed Michael Scott — quite possibly the most clueless boss in history.

Michael quickly learns the truth that his enthusiastic “declaring” of bankruptcy doesn’t quite work the way he thinks it does. Michael would be best served by consulting with a bankruptcy attorney to help him through file for Chapter 7 or Chapter 13 bankruptcy protection. But there is one thing worth noting about Michael’s actions — he is cutting up his credit cards, which in terms of reducing his excess spending, will likely do the trick. At least he’s got one thing right.

The Remix

Natalie Conatser

Author: Natalie Conatser

Natalie is a finance professor who writes all about finance as a blog contributor. She is a board certified accountant and also knows a thing or two about debt and avoiding bankruptcy. Natalie plans on touring the US to speak about personal finance.

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