****** - Verified Buyer
4.5
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.
