10 Common Bankruptcy Questions


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Author's Note: 10 Common Bankruptcy Questions

Something that became abundantly clear as I researched answers to these 10 common bankruptcy questions is the necessity of bankruptcy lawyers. After reading a summary of rules regarding exemptions or waiting periods, I would often go to the text of the federal law where the bankruptcy rules are codified. I have never read anything more bizarrely written in my life! Legal documents aren't composed of full sentences. Instead, they are a series of semi-related clauses strung together by incomprehensible legalese and baffling caveats.

If I tried to file for bankruptcy without a lawyer, I have no doubt that my case would be dismissed on some technicality buried deep in the gibberish of Article V, section XVI, subsection ix. I'm glad to see that there are free legal aid services catering to folks who can't afford a private bankruptcy lawyer. Which brings up the question: What person filing for Chapter 7 can afford a lawyer?

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Sources

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  • Bulkat, Baran. "The Federal Bankruptcy Exemptions." Nolo (Oct. 3, 2014) http://www.nolo.com/legal-encyclopedia/federal-bankruptcy-exemptions-property.html
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