How a Bankruptcy Lawyer Can Help You Protect Your Finances
A bankruptcy lawyer can be the difference between a fresh start and a failed filing. Financial stress can feel isolating, but you're far from alone. Over 500,000 Americans filed for bankruptcy in the last 12 months. Total filings have increased each quarter since June 2022.
Whether it's mounting credit card debt, unexpected medical bills, or job loss, many find themselves overwhelmed and uncertain about the next steps. If you’re asking yourself, “Should I file for bankruptcy or try debt relief?” This guide is for you.
This guide addresses common bankruptcy questions, explains the differences between Chapter 7, 11, and 13 filings, and outlines when seeking legal assistance might be beneficial. If you're considering bankruptcy, know that support is available to help you navigate this challenging time. Contact Wilkie Puchi LLP today and tell us your situation.
Why Hire a Bankruptcy Lawyer?
Filing for bankruptcy isn’t just filling out forms. It’s building a path forward. A bankruptcy lawyer helps you:
Choose the right chapter for your situation (7, 11, or 13)
Stop most creditors immediately with an automatic stay
Avoid errors that can delay or derail your case
Protect your property and maximize exemptions
You can learn how to file for bankruptcy without a lawyer, but that doesn’t mean you should. Going “pro se” often leads to missed deadlines, missing paperwork, or worse: adismissal of your case.
If you're even thinking about bankruptcy, a free consultation with a bankruptcy lawyer can give you straight answers and a sense of direction.
What Disqualifies You from Filing Bankruptcy?
One of the most common bankruptcy questions is whether someone is eligible. Here are some things that may disqualify you from filing bankruptcy:
Too much income for Chapter 7 based on the means test
Recent bankruptcy discharges
Failure to complete credit counseling from an approved provider
Suspected bankruptcy fraud, concealment, or abuse of the bankruptcy process
If you're unsure about your eligibility, a bankruptcy lawyer can review your records and advise on the next steps. There are often other solutions like structured repayment plans or creditor negotiations.
Understanding Chapter 7, Chapter 11, and Chapter 13 Bankruptcy
People often ask: what is the difference between Chapter 7, 11, and 13? It’s one of the most common bankruptcy questions, and the answer depends on income, assets, and the type of debt involved.
Here’s a quick breakdown:
Chapter 7 Bankruptcy - Known as liquidation bankruptcy. It wipes out most debts like credit cards or medical bills. You may have to give up non-exempt property, but many filers keep everything. A Chapter 7 lawyer can explain what’s protected in your state.
Chapter 13 Bankruptcy - You keep your property and repay some debt over 3–5 years. Ideal for people with income or those behind on mortgage payments.
Chapter 11 Bankruptcy - Usually for businesses, though high-net-worth individuals may use it. It reorganizes debt rather than erasing it.
Which form of bankruptcy is most common?
As shown in the chart, Chapter 7 bankruptcy makes up the largest chunk of bankruptcy filings while Chapter 13 bankruptcy accounts for most of the other filings. Only 2% of filings are Chapter 11 bankruptcy.
If you're thinking about filing a Chapter 7 bankruptcy petition, a chapter 7 bankruptcy attorney can explain how exemptions work and whether your property would be protected. They will also help ensure the court grants a full discharge of debts.
Common Bankruptcy Questions
How Much Does a Lawyer Charge for Chapter 7?
It depends on your case. Fees typically range between $1,000 and $3,500, depending on complexity, location, and whether you have assets at risk. Wilkie Puchi LLP offers flat-fee options to help clients plan without surprise costs.
How Much Debt Do I Need to File Bankruptcy?
There’s no official minimum for how much debt you need to file for bankruptcy. The key factor is whether you can repay what you owe in a reasonable timeframe. If you're behind and can’t see a way to repay in 5 years, bankruptcy may make sense.
Can I file for bankruptcy without a lawyer?
Yes, but here’s why most people don’t. Filing without a lawyer (called “pro se”) leads to far more failed cases.
Success rates (per federal data):
Chapter 7 with lawyer: 97%
Chapter 7 without lawyer: 65%
Chapter 13 with lawyer: 39%
Chapter 13 without lawyer: 2%
Those stats speak for themselves. Filing alone may save a little upfront, but it could cost you a successful outcome.
Should I File for Bankruptcy or Try Debt Relief?
You’ve likely asked yourself this. Maybe you’ve even Googled it. The truth is, bankruptcy isn’t always the answer, but debt relief isn’t always enough.
Here’s a simple guide:
If your debt is unmanageable and growing — bankruptcy might help.
If you have income but need time — debt relief may work.
If creditors are suing or threatening garnishment — you need legal protection.
The question “Should I file for bankruptcy or try debt relief?” doesn’t come with a one-size-fits-all answer. It depends on your income, your assets, and the type of debt you're dealing with. That’s why our bankruptcy lawyers walk you through both paths, not just the one that involves filing. We'll help you weigh the pros and cons so you can move forward with confidence, not confusion.
Get Trusted Bankruptcy Help
Bankruptcy isn’t the end of the world, it's a reset. For many, it offers relief from overwhelming debt, constant stress, and aggressive collection tactics. A bankruptcy lawyer can explain your rights, help you avoid costly mistakes, and guide you toward financial recovery.
At Wilkie Puchi LLP, we don’t just file paperwork. We give you straight answers, clear costs, and the peace of mind of knowing your case is handled by professionals with deep legal experience.
Schedule your free consultation with a bankruptcy lawyer today and take the first step toward clarity and control.