When people with debt problems reach the conclusion it’s time to file for bankruptcy, many find it hard to justify the expense of hiring a bankruptcy lawyer. Even though bankruptcy services are generally quite affordable, taking on any new expense can feel like a mistake.
You may be thinking to yourself that a bankruptcy attorney’s blog isn’t likely to recommend trying to file bankruptcy on your own, and you would be right. This isn’t about helping bankruptcy lawyers hold onto their clients, however -- it’s advice from the Los Angeles Times’ consumer columnist David Lazarus.
Did you know that you can be prohibited from filing for bankruptcy if you're found to have committed defalcation? It's true -- although the term had never actually been defined until now. On Monday, the U.S. Supreme Court took up the issue and defined the term in a unanimous ruling.