Complicated Filing Process

• Filing for bankruptcy can be a complicated process. While many consumers and businesses approach bankruptcy as a final effort to paying off or eliminating debts, many lack the knowledge of the bankruptcy court system to go at it alone. Most individuals solicit the help of a bankruptcy attorney to assist with the filing process, court appearances, and communications with creditors.
  
  

Not all Debts Can be Discharged

• Bankruptcy presents certain challenges for the relief of some debts. For example, a homeowner may run the risk of losing his home or automobile if he files for bankruptcy. If an individual is behind on his house payments, he must make arrangements with his mortgage company to bring his account current to avoid losing his home.
  
  

Weakens Credit Worthiness

• Bankruptcies can remain on an individual's credit report for up to 12 years in some cases. This significantly limits the bankrupt individual's ability to obtain credit or receive a reasonable interest rate on loans or credit cards.