For the first time in more than 30 years, bankruptcy experts are revamping the forms people use to file for bankruptcy. The new official bankruptcy forms, which are expected to become available on Dec. 1, are designed to be less confusing and free of legal jargon to make it easier for the average person to complete. However, during the recent public comment phase for the new forms, critics complained that the simpler format may mislead filers into incorrectly thinking they can handle their own bankruptcy filing. In a recent article, The Wall Street Journal quoted one opponent who said, “May as well hand them some dynamite. As we all know, bankruptcy is not about filling in forms–it is about understanding the rules, statutes and case-law that dictate and interpret how forms are completed.”

The advisory committee that is responsible for amending the documents argues that the new official bankruptcy forms give sufficient warning about the consequences of inadequate filings. They say the possible consequences should discourage uninformed pro se filings.

To learn more about the new official bankruptcy forms, read the entire article.

Image Source: Caitlin Childs