The misconception of simplicity

So many businesspeople share the common misconception that filing bankruptcy is nothing special, barely anything more than some forms and a couple of meetings before the tab is cleared.

However, this is what people think before they have to file for one. After they do, they realize how deceptive the simplicity is. Chang&Diamond, APC are regularly hired by those who tried to complete the bankruptcy process themselves or with the help of an inexperienced lawyer, or even worse, a paralegal.

Before the bankruptcy is filed

Some problems with bankruptcy can be prevented only by taking certain steps before the filing. You are not expected to know what these are, because there are qualified bankruptcy attorneys who are required to possess such knowledge.

The list of problems that can arise from a mishandled bankruptcy filing is too long for this or any other post. However, you should know that numbers can be made to work for you, that there are methods to protect your assets and prevent issues with those you have repaid. But, the only way to know this is through the information obtained from an experienced bk attorney.

The forms

The way information is presented on bankruptcy forms can also be crucial for the ease of the process. If the information is precise and properly presented, the trustee and the judge will have no problem understanding the situation.

Unfortunately, it’s very common that the forms are not accurately filled out the first time, resulting in additional costs for you to remedy the issues and misunderstandings. All the information laid out in the form is presented under the penalty of perjury. If something is missed or wrongly filled in, it doesn’t mean you’ll go to prison, but that the process will be extended and further costs incurred.

A case can be reopened after a year or more if it is discovered that the debtor didn’t place the real value on a real estate asset or information surfaces that some assets weren’t listed. Failing to disclose material facts can lead to a denial of your discharge and the trustee could be entitled to sell such assets without your approval.

There is no simple case

There is no way you can know your case is simple, because you don’t have the expertise to know where there could be landmines.

You could also look at it this way – there are medical procedures that are simple and which you could probably perform. Let’s say someone dislocated their shoulder. Relocating it is fairly straightforward, but would you risk doing it without proper qualifications? If you do it improperly, you could make the injury worse with possibly permanent consequences.

Even though filing bankruptcy is planned to be made so simple that everyone can do it online, it doesn’t mean you should do it alone or pro se. The complexities will still be lurking there.

Remember that it’s always more affordable to do things right the first time, than to be forced to pay more to fix them. Even the website of the United States Courts says that professional legal guidance in the matter of bankruptcy is highly advisable because “bankruptcy has long-term financial and legal outcomes”.

Bankruptcy attorney San Diego

If you are potentially going to declare bankruptcy, make sure you contact Chang&Diamond, APC, for a free consultation. We have a myriad of successful cases in our portfolio, and all our knowledge, experience and expertise is invested into relieving the debts of our clients and making them able to start afresh as soon as possible. Contact us right away and find out everything you would like to know about your case and how we can help you make the most out of your situation!