How to File for Chapter 7 Bankruptcy 15th Edition

Filing for bankruptcy without representation is not for the faint-hearted. There is a lot to be said for how comforting it is to have a skilled and experienced attorney take care of everything and guide you through the process. It must be emphasized that if you have a complicated financial situation, a good attorney is the best investment. But if your situation is simple like mine, i.e. you have no real assets, don't own real property etc. and straight-forward income from wages only that does not exceed the median for your state, no expectation of any inheritances, no one owes you money, etc. then this book will serve you well and save you a boatload of cash. I agonized over "going it alone" for a while, but in end chose to go for it because I really didn't have the $1200+ to hire an attorney on top of the $306 filing fee. This book explains everything in such detail and is so easy to understand. The amount of information can be overwhelming at first, but I read through the pertinent sections over and over until I felt reasonably confident in my knowledge of the process I was about to begin.Yesterday was my 341 hearing. This happens about a month after you file. I had been extremely nervous about it ever since filing, to the point that I had no appetite in the days leading up to it and would lie awake at night with my heart thumping hard. It is an understatement to say that I was worried. I did my best to follow all instructions to the letter and was truthful in filling out my paperwork but I really had no idea what would happen at the 341 and whether the trustee would find a problem with my papers. I got there at the appointed time and had to sit through about an hour and a half's worth of other debtors' 341 meetings. (Note to the wise: expect to be at your 341 meeting for at least a couple of hours, waiting).The 341 meeting is a strange experience. You sit in a room full of other debtors and their attorneys and witness them one at a time go up to the trustee when they are called, present their identification, swear in, and then the trustee asks them questions about their paperwork and financial situation. Sometimes it can get awkward. Sometimes it can get downright painful to watch, when the trustee thinks someone has been untruthful in their filing, or has held information back that should be disclosed in the paperwork. I must note that a majority of the debtors I witnessed being questioned by the trustee had one snag or another in their questioning that caused them to be straining to do some explaining. Many of these people unfortunately seemed to have somewhat incompetent attorneys who had failed to submit required documents to the trustee. Other times the debtor would tell the trustee something that apparently they never told their attorney. In one instance the trustee threatened to dismiss a case, but opted to give the debtor a continuation. Watching them go through this agonizing experience did not make me feel better about what I was about to face, and it took everything I had to remain composed. Finally, I was called up to the trustee, gave my ID and swore in, then took my seat and prepared for the worst as best I could. Guess what happened? Nothing. The trustee asked all of the requisite questions for a routine case, I gave my yes/no answers, and then he concluded my 341. It took all of about 2 minutes. As I left the meeting I had to resist the urge to yell "WOOOOO-HOOOO!" and run wild in the halls. I felt like a million bucks, and I owe it ALL to this book.Again, if you have a straight-forward no-asset case, and you don't mind taking the time to study the material carefully, do yourself a big favor and get the newest edition of this book. It seems a lot of the other reviewers here would agree.

In the aftermath of an expensive divorce combined with loss of my job and home I found myself facing bankruptcy without being able to afford the $3500-$7000+ that most attorneys were asking for my case. My online research led me first to a general bankruptcy book by Nolo, where I decided Chapter 7 was for me, and then this book to handle the specifics of my filing. The attorneys who wanted thousands of dollars told me the process was too confusing and the paperwork too complicated for someone like me. They warned me that I would be inviting disaster by mishandling my own case. Rubbish. Having this book was MUCH BETTER than having an attorney. It comfortably walked me through each step, giving me insight to time-saving tips and helping me make sure I didn't make any mistakes. Once I understood how the process worked and how to handle creditors I felt incredible confidence that I was getting a big piece of my life back. I only ended up paying the Federal Court fee, which was peanuts compared to what the attorneys wanted. And when I attended my creditors meeting my trustee complimented the thoroughness of my filing...in fact, his only non-standard question was to ask where I got my filing forms! By contrast, only 3 of the 15 filers who were there with their attorneys passed their creditors meeting...the others were chastised for submitting wrong or incomplete paperwork WITH THEIR ATTORNEY and had their meetings continued. My case went through without a hitch and I felt like I was walking on air when I got the court's letter that all my debts were successfully discharged. Could not have done it without this book...thank you, NOLO!!

I bought this book, when it first came out in 2006. I put it on the shelf and decided to wait until I had money for an attorney. over 3 years later,I still do not have the money to hire an attorney. I now need a root canal so decided to start reading the book. I started reading the local filing rules, which confused the crap out of me. I spent 4 hours. If not for this book, I would not have figured out that I need to go to the FEDERAL website to get the bulk of the forms. Only a few of the local ones were required. It is also valuable for filling out the paperwork. I still find I have questions that are not mentioned in the book. if receiving government benefits, it says to list them as income. but then if there going to direct payment for an expense (such as child care asstiance) do you list the child care as a expense aslo?? Im stumped on that. If not for that, I think i would be able to fully file without help. At this point , I may have o call and ask an attorney the question to make sure. I dont know if they would do that or how much they will charge.

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This book is very informative for anyone considering bankruptcy, but after reading it, I decided to hire a lawyer. When filling out the paperwork in the book, I found that I was going to lose property in my bankruptcy. I decided to meet with a lawyer for a different perspective, and I was happy I did. My bankruptcy went smoothly and I lost no property.The book gives you the black-and-white rules of bankruptcy, but a real bankruptcy is not so simple. A lawyer will navigate you through the gray areas and find creative ways to make the laws work in your favor. If you're on the fence about filing for bankruptcy, I recommend reading this book. If you've already decided to file, just bite the bullet and get yourself a lawyer, especially if you expect to lose any of your property.