How-To Books Increase Bankruptcy Filings
- Share via
In the article, “Bankruptcies Up 35.8% in Orange County to Record High” (May 14), many factors were cited for the increase in filings from the prior year-ago period.
I believe one major factor was omitted: affordability. While court filing fees are a fixed cost, legal fees are not; choices today include lawyers, independent paralegals and even “how-to” books.
I would dare say that of the more than 25,000 bankruptcies filed in the first four months of 1991 in the Central District Bankruptcy Court’s jurisdiction, a sizeable--and growing--percentage were likely completed by independent paralegals.
For many financially strapped individuals, the plethora of viable self-help law books and independent paralegals are now filling the previously unmet need for accurate, low-cost, boiler-plate bankruptcies--especially Chapter 7 personal bankruptcies. Previously, the legal fees alone had a moderating effect on bankruptcy filings.
Do-it-yourself brain surgery may never fly, but do-it-yourself bankruptcy, apparently, does. For the consumer, competition is good.
GEORGE C. BALDERAS, Corona
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
