If you have serious debt, and are considering bankruptcy, you have probably gathered that it will cost some money to find good legal representation.
There is the cost for the attorney, a filing fee, education course fees, and possibly some “due diligence” related expenses as well.
Is it all worth it? Shouldn’t you just consider representing yourself to save part of the cost?
What is that saying?…..”the more you know, the more you realize how much you don’t know? Something like that anyway.
Maybe put another way, “you know just enough to be dangerous”. No? ok maybe this…
Bankruptcy law and the law in general, are like an iceberg. On the surface, the iceberg doesn’t look that big. It’s pretty and white, sitting on a sea of glass.
But just about the time you think you can maneuver the boat right up next to it, you realize the larger part of the iceberg is under the surface, and your boat is sunk. Think “Titanic”. (You probably were anyway)
I often speak with people who have filed their own bankruptcy case, and come to me to ask for advice about the IRS debt that survived the filing. Many times, some experienced legal advice prior to the filing of the bankruptcy would have resulted in the discharge of the tax debt. The law that governs this advice…is the “ice” under the water.
What would the filer with this large tax debt, be willing to have paid for the advice if he could go back in time? What would the Captain of the Titanic have paid?
Probably quite a bit. The great thing is that if you are in the same predicament, (as the filer, not the captain) you won’t have the same problem. Why? You will pay for some experienced advice ahead of time.