Bankruptcy Attorney Fees – What to Expect
There are two kinds of bankruptcy lawyers: commercial bankruptcy lawyers who can assist you with filing for bankruptcy by your company, and personal bankruptcy lawyers who can assist you with filing for bankruptcy either by yourself or by your partner or wife. Bankruptcy lawyers have various specializations, but the main focus is on giving you sound advice so that you can make an informed decision about whether or not to file for bankruptcy protection. They can also help you with how you obtain your bankruptcy protection if it is needed. They also can help you deal with creditors after you have filed for bankruptcy. This is especially helpful because many creditors may be inclined to work with you if they believe that you are serious about following through on your promises to pay them back.
Your first step in filing for bankruptcy protection is to find a qualified bankruptcy attorney. This attorney will work closely with you to determine which chapter of the bankruptcy law best suits your situation, as well as your particular financial situation. They can evaluate your income and expenses, as well as your assets and debts. An experienced attorney can help determine what type of bankruptcy protection is most beneficial to you, and he or she can guide you through the filing process and the whole bankruptcy process. To get the best possible representation, start by finding a bankruptcy attorney who practices in the state or area in which you need representation.
If you do not already know one, it is a good idea to find out how much a bankruptcy attorney charges. Fees vary widely, depending on how complex your debt problems are, whether the case involves large sums of money or small amounts, whether or not there are co-signers, and other such factors. To get a good idea of the range in fees charged, contact several bankruptcy attorneys to ask what they charge for filing fees. The best idea is to talk to more than one to get a sense of the range. Then compare those fees to the results you can expect from having a professional representing you in your bankruptcy case.
In addition, you should inquire about filing assistance. Some bankruptcy lawyers and attorneys offer free filing assistance, while others require you to pay a filing fee. This can make a huge difference in your overall costs, especially if you have a lot of debt. A bankruptcy attorney who provides free filing assistance may also be able to get you an automatic stay, which is a stay against creditors even after you file. An automatic stay prevents creditors from calling you, calling to you, or contacting you in any way for the duration of your filing.
Many people fear that they will lose the property during the filing process. In fact, that is really not the case. Bankruptcy lawyers cannot take your property away, because that is not part of their job. What they can do is help you fill out all of the paperwork required and help you deal with the creditors so that your paperwork is completed and filed properly. In the end, your property will be protected unless your lawyer files a motion to vacate the bankruptcy court order.
There are many different aspects to dealing with the legal system, but having a bankruptcy lawyer can make things go much smoother. You will be less stressed when you hire a legal practitioner instead of going it alone. Keep in mind, though, that you will still need to pay for legal advice after the process is complete. Many bankruptcy lawyers charge legal fees, but it’s important to remember that there is nothing you have to lose by getting legal advice and paying for it. When you hire a bankruptcy lawyer, you will save both time and money, which are very important to any individual going through this difficult time.