Someone close to me is in the final stages of filing a 656 Offer in
Compromise with the IRS for a business she had that went under.  She
has to now resisted attempts to have me hire a tax attorney for her. 
She has an amount from the IRS (it's about 15% of the total, I think),
and is prepared to accept it.

My question is, what happens when her circumstances change?  She's got
some health issues which are going to surface, and I see in reading
the 656 that she loses all rights to appeal.

What I am looking for is:

Any first-person or other narratives about the process from people who
have gone through the 656 process already.

Any information (as easy to read as possible, I'm not that smart :) on
what she might be able to do if, say, five months down the road she
runs into significant unreimbursable medical expenses (and can of
course document it).

Likewise if her living situation changes - rent goes up, etc.  Is
amendment possible?

The amount of the offer is sort of on the cusp of cost vs. benefit -
in other words, is it worth the expense to hire an attorney for this? 
Any insight on pricing would help.

We've also discussed her filing bankruptcy - will this be an option
for her after accepting the offer (and I'm fairly sure that the
bankruptcy will not discharge any of the tax stuff).  Again, any
experiences that are out there to be shared would be excellent.

I am absolutely convinced that she needs to speak to a professional,
and I'm just looking for more information (and usual disclaimers
definitely apply).

Thanks!
Ken