Many people file their bankruptcies without an attorney. This is permitted, and you can file "pro se," which means "for yourself." You may think it isn't that complex and you can save some money by doing it yourself. While you can save money if you successfully complete your bankruptcy, many do not, which may cause more problems in the end and may end up costing you more than if you had worked with an attorney in the first instance.
Once something become enshrined in law, it can be difficult to dislodge. Take the sections of the Bankruptcy Code that prevent student loans from being discharged. These provisions date to 1978, and were based on some newspaper stories that suggested that some students who obtained student loans planned to use bankruptcy to discharge their debt after graduation to avoid having to pay the loans back.
We all have imagined how great it would be to have an income like that of a professional athlete. Earning millions per year, we probably believe that it is like winning a "golden ticket" and that with that kind of income, life would indeed become "easy street."
Last time, we discussed the issue of child support and a Chapter 7 bankruptcy, and we noted that while you cannot discharge a child support obligation in a Chapter 7, it might affect how you could collect that obligation if your former spouse filed Chapter 7.
More than a million Americans file bankruptcy every year, according to bankruptcy court statistics in the United States. Bankruptcy can help individuals struggling with debt by discharging or eliminating certain debts and helping them get a fresh start.
Child support is not dischargeable in a bankruptcy. This means that if you owe child support, your filing a Chapter 7 or a Chapter 13 will not allow you to eliminate that debt. If you are owed child support, your claim for child support remains during the bankruptcy, but the bankruptcy may complicate your collection efforts.