How to File for Bankruptcy

Video Transcript

"You may have recently found yourself in the same predicament as many Americans have found themselves recently in this declining economy. That is, they have more debts than they have ability to pay. Each month they run out of money before they run out of debts. So you may have discussed this with neighbors, family members and friends, perhaps I should file bankruptcy but you don't know where to begin, where to go. I'm Robert Todd and I'm here to answer the question how do I file for bankruptcy? Well perhaps the first place to look is to go on the Internet and look at the federal bankruptcy statute itself. It will tell you about the different types of bankruptcy such as chapter 7, chapter 11 and chapter 13. If you feel comfortable traversing this Internet site and you understand the terms and conditions and the practices, policies and procedures that are outlined therein, you may be one of the few who is able to file bankruptcy by themselves. Generally speaking, this is a very complex area of the law and in fact is a specialty among attorneys. Not every attorney is qualified to advise you or any other individual about how to file bankruptcy. So it would be our recommendation that if you are seriously considering filing for bankruptcy that you consult with a lawyer who specializes in bankruptcy. I'm Robert Todd and thank you for watching."