As a Joliet bankruptcy attorney, I am constantly hearing questions regarding filing. For example, one such question is, after I file, will negative items being removed from my credit report?
The answer to that question is no. At the time of filing bankruptcy, your credit report will show that you owe these debts but once you file for bankruptcy, the debts will still be showing as owed but there will be an additional notation which will say that they are discharged by bankruptcy. Anyone who lends money, gives mortgages, sells cars will understand that those debts have been forgiven by bankruptcy. So they will still appear on your credit report for the next seven years but they will be in effect eliminated by the bankruptcy. Another way of saying that is your legal obligation to pay for those debts has been ended.
Another question is can I file my own bankruptcy forms which I bought at the office supply store?
The short answer is yes but I would never recommend that someone file for bankruptcy by themselves. In 2005, a new bankruptcy law was enacted by Congress. This became a highly specialized area of the law. Most general practice attorneys these days won’t touch bankruptcy because they just don’t have the expertise necessary to do the job correctly.
Filing for bankruptcy is an important, serious decision which requires a very specialized knowledge which an attorney can provide for you. Such a small amount of money to make sure it’s done right, that you should definitely hire an attorney to make sure that your case goes smoothly.