Filing for bankruptcy is never an easy process and in many cases requires that you hire the services of an attorney. The cost of doing so can be so overwhelming that you might feel as though you are getting from one bad situation to another. There are people who are aware of this and are taking advantage of the situation to make money out of insolvent people who do not have the full information.
Bankruptcy paralegal are practitioners who will assist you to prepare and file for a court petition. This they do at a minimal cost. They will make you see how much money you can save by hiring their services. This is as far as the advantages of hiring a paralegal goes. You are highly advised not to go for their services if you feel that you might be fooled. This is because the law does not recognize them as legal experts. They are not allowed to give any legal advice as far as insolvency is concerned.
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Moreover, they are also not allowed to represent their clients in court. Filing a petition without the correct knowledge is not advisable, neither is responding to a court summon without a representative. Efforts have been made to stop the operation of these less knowledgeable paralegal, but this is yet to come to fruition.
You may initially think that you are going to save a great deal of money by hiring a bankruptcy paralegal but this may not be the case. Since they cannot advise you on legal matters, you might file a petition that will cost you more than you hoped to save. For example, if they do not tell you to have some of your property exempt, you could end up losing it while all along you thought it was yours for keeps.
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