How do you deal with Bankruptcy lawyer fees?
If you're considering filing bankruptcy, you're obviously in a deep financial mess. Simply put, you're at the end of your financial rope and will likely find it difficult to pay for any new bills or fees that come your way. With this in mind, how can you possibly afford to pay for bankruptcy lawyer fees? Should you try to file for bankruptcy yourself?
Until the last few years, declaring bankruptcy and going through the process by yourself may have actually been achievable. You may even have friends or acquaintances who insist that they filed for bankruptcy without a lawyer and that you should be able to do the same thing. Here's the problem: bankruptcy laws have changed.
The new bankruptcy law doesn't make the process unavailable for most people, but it does make it more difficult. You have to go through extra lengths to prove that you need bankruptcy, and there are many details and restrictions that your lawyer will have to help you understand.
So basically, you really need to get a good lawyer to help you with the bankruptcy process. Trying to do it all on your own could end up being a nightmare, and you might end up feeling like you're trying to defend yourself in a murder trial.
But how do you pay for it? Well, for one thing, most lawyers charge their clients by the hour, so if you can reduce their workload you'll end up paying less. How do you do this?
The first thing you can do to reduce your bankruptcy costs and legal fees is to become a more educated client. Read articles and books that shed some light on your situation so you won't have to bother the lawyer with the fundamental questions. Also, organize your financial documents and know exactly what your debts are and how much money you have.
One thing to keep in mind is that once you file bankruptcy, you can stop making payments to your credit card companies and similar bills that will probably be wiped out in bankruptcy. You can use these extra funds to help pay your attorney costs.
If you think bankruptcy might be necessary for your circumstances, talk to a lawyer about your problem so you can make the best decision possible for you and your family.
Until the last few years, declaring bankruptcy and going through the process by yourself may have actually been achievable. You may even have friends or acquaintances who insist that they filed for bankruptcy without a lawyer and that you should be able to do the same thing. Here's the problem: bankruptcy laws have changed.
The new bankruptcy law doesn't make the process unavailable for most people, but it does make it more difficult. You have to go through extra lengths to prove that you need bankruptcy, and there are many details and restrictions that your lawyer will have to help you understand.
So basically, you really need to get a good lawyer to help you with the bankruptcy process. Trying to do it all on your own could end up being a nightmare, and you might end up feeling like you're trying to defend yourself in a murder trial.
But how do you pay for it? Well, for one thing, most lawyers charge their clients by the hour, so if you can reduce their workload you'll end up paying less. How do you do this?
The first thing you can do to reduce your bankruptcy costs and legal fees is to become a more educated client. Read articles and books that shed some light on your situation so you won't have to bother the lawyer with the fundamental questions. Also, organize your financial documents and know exactly what your debts are and how much money you have.
One thing to keep in mind is that once you file bankruptcy, you can stop making payments to your credit card companies and similar bills that will probably be wiped out in bankruptcy. You can use these extra funds to help pay your attorney costs.
If you think bankruptcy might be necessary for your circumstances, talk to a lawyer about your problem so you can make the best decision possible for you and your family.
About the Author:
Don't let the fear of your debt take over your life. Get the facts about bankruptcy and learn how to get control of your debt. To learn more about the new bankruptcy law visit us at http://personalbankruptcyquestions.org
posted by Credit Counseling at
9:31 AM
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