If you decide to file for bankruptcy, one of the most important moves you will take is to hire a lawyer. And if you haven’t made up your mind, you can consult an attorney about your choices and concerns. You will discover that you have legal advice going forward with this situation if you do so. It’s a big deal, and it’s frequently a condition in which you’ll reclaim your financial independence. Many people put off seeking legal assistance because they are concerned that they may not be able to afford it. Find more information about us.
Consultation at the Start
The first meeting, or consultation, with a bankruptcy attorney will provide you with valuable details and a game plan to help you get through this phase as quickly as possible. Keep in mind that this is a consultation with an attorney to resolve your case. Unless you intend to file on that day, you will not be charged for this meeting. It is, however, one of the best opportunities and strategies for learning about the procedure as well as the lawyer.
Fees for Attorneys
The price of hiring a lawyer is determined by the legal professional’s fees. These costs differ greatly from one service provider to the next. They also differ depending on the services that the lawyer can provide. These costs must be paid before the case can be filed in Chapter 7. Until you pay the fees, the lawyer is unable to process your petition. Some companies have payment plans that will help you make this more affordable.
In Chapter 13, though, you will pay a lower fee up front, and then the lawyer’s fees will be paid out of a portion of the monthly payment to the bankruptcy trustee. This will take three to five years to complete. You will make deposits to the trustee during this period, who will pay your creditors.
Fees in the Courtroom
The cost of going to court varies a lot. However, much of the time, filing will set you back a few hundred dollars. When you meet with your lawyer, he or she will tell you how much it will cost. These fees must be charged at the time of filing as well. Depending on the form of bankruptcy you file, they will differ.
The good news is that payments are usually possible. If you can’t afford to file right away, you can usually work for it. A bankruptcy attorney, on the other hand, would need to work closely with you to decide whether you qualify to file and to ensure that the process goes smoothly. Don’t underestimate the value of getting an attorney by your side in the case.