If you are the do-it-yourself type, you might be tempted to file your bankruptcy petition on your own after you hire a petition preparer. You will certainly save money going this way, but there may be hidden costs and risks that will only appear once you have filed your case.
The Bankruptcy Code is very clear that a bankruptcy petition preparer can not provide legal advice. Section 101 of the Code provides that a petition preparer can not advise a debtor whether:
to file a petition under this title; or
(II) commencing a case under chapter 7, 11, 12, or 13 is appropriate;
(ii) whether the debtor’s debts will be discharged in a case under this title;
(iii) whether the debtor will be able to retain the debtor’s home, car, or other property after commencing a case under this title;