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If you feel that you have nothing now, the new bankruptcy laws could even shrink that! The new bankruptcy law overhauls the laws were changed so that in 1978. It attracts not only the requirements for those who file for bankruptcy, but also for their lawyers too.

These are some of the main changes under the new bankruptcy law:

* "Means test" - you now have to show that you are not abusing the use of bankruptcy. This test calculates what you per month, minus certain expenses that are allowed. The "median income" is from state to state. If you do not have the "means test", then you must for Chapter 13 bankruptcy.
* Volunteer - Guidelines provided by the IRS for allowable costs, and they are stingy. The food is about $ 200 per month, and housing is an approximate $ 800 per month.
* Residence Requirements - There are federal and bankruptcy law, and some state laws are more lenient than others. Texas and Florida are very generous "homestead" to be. The new bankruptcy law discourages you for the best offer. You are not entitled to file for bankruptcy in a favorable state unless you are there for a period of at least two years.
* Mandatory Credit Counseling - Another change to the new bankruptcy law is that a credit counseling course has been approved, within 180 days of filing bankruptcy. Sorry to say, this is obviously not free. The cost for this course is approximately $ 75.00.
* More paperwork - To prove that bankruptcy is necessary, consumers have much more documentation. Such things must be a debtor are: a list of all the unsecured and secured creditors, proof of the credit counseling course, a detailed breakdown of costs and a monthly income, debts and assets, the most recent tax return, photo ID and pay stubs.
* Hefty legal costs - a bankruptcy lawyer must now "certify" that their customers, the figures are correct. If they choose not to be, the lawyer and the client can impose sanctions. This means that your lawyer must do more to identify and control the action, to ensure that your data as well as his certification on board.

Is it best to be a bankruptcy lawyer if and when it's time to file for bankruptcy? There is certainly no legal requirement that you obtain a lawyer. But it would be very foolish not to do so. If you choose to file on your own, and remember to file certain documents, your case may be subject to dismissal, and you must again from the beginning. As an example, a couple recently tried to file for bankruptcy online. They were not quite sure whether we have brought together or just the husband. They did it on their own and really goofed things and now they are paying! You do not do this to try to save some money, since they only come back to meeting you at the end. It is in your best interest to have an experienced bankruptcy lawyer for you.

For more insights and further information on the area of bankruptcy and also for a free bankruptcy evaluation from an accredited bankruptcy lawyer who is local to you, please visit our website at http://www.bankruptcy-data.com