Do I Need A Lawyer?

[gogo589]

What is the name of your state (only U.S. law)? Minnesota. I am going to file Chapter 7 Bankruptcy and am wondering if I truly need a lawyer. Are there any disadvantages to NOT having one?

I think my case is pretty straight forward. I am unemployed for the first time in 22 years, and certain bills I just cannot pay. The company downsized, and finding a new job has been impossible. I have been responsible and am not one of these persons who has a thousand credit cards with maxed out balances. I don't drink, smoke, do drugs, or have any gambling habits.

I would like to keep my home and vehicle, but have heard conflicting stories about reaffirming these loans. Would reaffirming these loans possibly give me a better rate and lower payment? Does reaffirming these loans give me any advantage?

I am currently getting unemployment which covers my mortgage and vehicle payment. I plan to keep those for a long time because they are both fairly new. Hopefully I will find a job soon, but in the meantime, I am falling behind with my other bills. I am looking for solid advice. Thank you.What is the name of your state (only U.S. law)?

 

[bigun]

Well, if you screw it up, you could have your filing dismissed and have your assets in jeopardy.

Nolo Press has some introductory bk books.
Bankruptcy Forum has a pro se forum where you can get some help.
REaffirming a det means, you accept the orginal terms of the loan including, should you default post bk, you are liable for any deficiency baalnce.

Were I you, I'd wait until after you have a job with insurance benefits before you file. You don't want to file and then get sick or injured post bk and have medical bills you can't pay and you already played the bk card.

 

[Isis1]

you really should speak to a bankruptcy attorney. if you want to keep your house, then a chapter 7 will not be in your best interest.

 

[gogo589]

Isis1, thank you for your reply, but I know several people who filed for chapter 7 and kept their homes. Can you tell me why it would NOT be in my best interest?

Bigun, thanks for your reply also. I surely don't want to screw it up, but cannot afford a lawyer. I'm searching for a pro bono attorney to do the filing.

 

[Proserpina]

Isis1, thank you for your reply, but I know several people who filed for chapter 7 and kept their homes. Can you tell me why it would NOT be in my best interest?

Bigun, thanks for your reply also. I surely don't want to screw it up, but cannot afford a lawyer. I'm searching for a pro bono attorney to do the filing.

That's going to be very, very difficult. Unless you can show severe financial hardship most Legal Aid and/or pro bono services will be reluctant to do the filing unless yours is a very simple (ie no income, no asset Ch 7).

While it's absolutely possible to keep your home during/after Ch7 in practice this can often be quite a challenge. Because nobody here knows your exact financial status you'd be best served having at least an initial consult with a bankruptcy attorney in MN - most offer free or low-cost first appointments. Much may depend on how much equity (as opposed to how much you owe) is tied up in the property.

 

[bigun]

Here are Mn.'s k exemptions.

Minnesota Bankruptcy Exemptions - MN Bankruptcy Exemptions

Looks like Mn. has very generous exemptions. Don't see why you can't keep the house and car as long as you're current.
To add to Proserpina's thoughs-yes, see a few lawyers. Many will accept payment arrangments.
Also, stop paying all debt you wish to discharge, Save those payments for legal fees. If you anticipate a tax refund, that's a source of funds for a lawyer.