Filing for bankruptcy may seem intimidating. For most clients, their first question is, “How do I pay my bankruptcy attorney when I’m already in debt?” While the whole concept may seem overwhelming and discouraging, filing for bankruptcy can remove a huge burden from your life and ends up being worth every penny. Sadly, most people are too concerned with the amount they will need to pay to even seek out an attorney for a consultation.
The problem with trying to file for bankruptcy on your own is that it can be very easy to make mistakes. Mistakes can slow down the process and even get your case thrown out of court. While you’re welcome to file again, the extra time adds extra stress and usually more debt.
Another issue many filers come across is the need to save their home if they’re in danger of being foreclosed on. Many people will consult a “foreclosure specialist,” paying them as much or even more than they would pay an attorney. Foreclosure specialists may not even be able to save your house and may be tempted to give you legal advice for the rest of your bankruptcy issues. While a foreclosure specialist may have your best intentions in mind, you should only take legal advice from a lawyer.
Another common mistake people make is hiring a CPA to help them file for bankruptcy. Again, they are not a lawyer and should not be dispensing legal advice of any kind.
Most bankruptcy attorneys will offer an option of paying in installments. While a filer may be looking at anywhere from $1,200 to $3,500 in fees, based on liquidation or reorganization, many attorneys will advise you on how to free up the money or how to structure your debt repayment to include their fees.
One of the best tips for finding your perfect attorney is to ask if they offer a free or inexpensive consultation, where you can get their advice on how to handle their fees. A good attorney will be understanding of your situation and will be able to figure out the best possible way for you to file bankruptcy.
Filing for bankruptcy can be expensive, but you don’t have to live with the stress of financial strain. A good attorney may even help you work out a better budget that takes your income, expenses, and debt into consideration. If you’re considering filing for bankruptcy, contact an El Paso bankruptcy attorney to learn more about the process and your payment options.
About the Author: Jeff Davis is the Owner of the Davis law firm and a highly experienced El Paso bankruptcy attorney. To find out more information about a El Paso bankruptcy lawyer, please visit www.jeffdavislawfirm.com.