Having posted my bankruptcy blog online for more than a decade I notice people from all over the United States reading what we write here. That is flattering but has a number of pitfalls if you rely solely on online articles for your bankruptcy information. Many online articles I read have conflicting, inaccurate, and erroneous information. I think that is for a variety of reasons:
Information is State specific. Even though we have a federal bankruptcy system laws and bankruptcy practices vary by state. Bankruptcy involves state and federal law. For example, a resident of Price, Utah should not rely on an article online written by a bankruptcy attorney in Des Moines, Iowa—the state laws are different.
Laws change every year. Most state legislatures update their laws on a regular basis. State and federal law are continually updated by court cases interpreting state and federal statutes.
You are unique and your circumstances vary. Each one has a different story and situation. An experienced bankruptcy attorney will analyze what types of retirement, investment, and bank accounts you have and the impact of property jointly owned with a spouse or family member. There are different legal treatments for business debts versus personal debts, and the practical consequences on your life if you file bankruptcy without first doing some bankruptcy planning.
Information is good but remember you need to rely on a local experienced bankruptcy lawyer so you get the best legal outcome possible. Remember bankruptcy is not to be taken lightly it’s a major financial decision that will alter the course of your life.