QUESTION
Can I choose which accounts to add to bankruptcy? How?
Asked on May 25th, 2015 on Bankruptcy - Illinois
More details to this question:
Can I be selective about which accounts I add to a bankruptcy? I am thinking about Chapter 7 because my income has been hit hard by the economy and I owe almost $30,000. Can I go through the bankruptcy alone or is a lawyer mandatory?
9 ANSWERS
Not even having a doctor is "mandatory", although I hear it's advisable to use a doctor to remove an appendix (a relatively easy operation I hear). However, if something goes wrong (with the operation or the BK filing), you may end up paying more to get things corrected.
Answered on May 28th, 2015 at 5:17 PM
Commercial & Bankruptcy Law Attorney serving Powell, OH
at
Ronald K. Nims
Update Your Profile
No, you're required under oath to list all your debts. It is not mandatory to have an attorney but bankruptcy law is complex, unless you have a very simple situation, not using an attorney could be very costly.
Answered on May 27th, 2015 at 4:47 PM
Deborah F. Bowinski
You are required to list EVERY DEBT that you owe when you file for bankruptcy. You are allowed to file yourself, but it is not a simple process and many people who try to file themselves either end up having their cases dismissed or, they end up losing assets that they might not have had to lose if they had sought legal advice and hired a lawyer to guide them.
Answered on May 26th, 2015 at 7:36 PM
Bankruptcy Attorney serving Madison, WI
at
Richard B. Jacobson & Associates, LLC
Update Your Profile
A lawyer is not mandatory in a bankruptcy, but almost always retaining an experienced BR lawyer is worth the investment. THIS IS VERY IMPORTANT: You may not pick and choose as to which debts (or claims, or obligations) you disclose on your bankruptcy papers. You sign under penalty of perjury several times on the papers that they are complete and correct. You must list all your creditors, and all your property. There is no choice in the matter, and I urge you not to take any risk with the laws of perjury. There are some legitimate ways of agreeing to continue to pay certain debts: your lawyer can advise you in more detail. Good Luck.
Answered on May 26th, 2015 at 4:31 PM
Bankruptcy law requires that ALL DEBTS BE LISTED and since the bankruptcy paper is submitted under penalty of perjury it would be a crime to do what you propose. Although you are not required to have an attorney represent you in bankruptcy court, you are held to the same requirements in preparing your bankruptcy as any lawyer would be. Most people that represent themselves in bankruptcy court regret it. If you commit a crime in submitting your bankruptcy, you will be entitled to a free public defender in the criminal court though.
Answered on May 26th, 2015 at 12:10 PM
Appellate Attorney serving Grosse Pointe Farms, MI
at
Musilli Brennan Associates, PLLC
Update Your Profile
An attorney is not mandatory, just wise. Full disclosure of all debts is mandatory, no favorites.
Answered on May 25th, 2015 at 11:38 PM
By low you have to include all your income and expenses on your schedules when you file for bankruptcy that also includes all your debt.
Answered on May 25th, 2015 at 5:57 PM
No, you must include all debt. It is highly advisable to hire an attorney as it is not exactly a common sense procedure.
Answered on May 25th, 2015 at 5:05 PM
Debt Settlement Attorney serving Chicago, IL
at
Law Offices of Daniel J. Winter
Update Your Profile
Every account you owe is included in a bankruptcy filing, by law. But, you can pay any account back if you wish. You can file bankruptcy without a lawyer, but it is not recommended, because it is very complicated.
Answered on May 25th, 2015 at 4:10 PM