What To Know If You Are Considering Hiring A Bankruptcy Attorney
Filling for bankruptcy is a decision that will impact your finances for years. However, there are times when bankruptcy is the best option for getting your financial life back on track. If you are filing for bankruptcy, knowing what paperwork to fill out and how the process works is vital. Since filing for bankruptcy is such a serious decision, hiring a professional to help guide you through this process is worth it. Here's what you'll need to know about using the services of a bankruptcy attorney.
What Type Of Bankruptcy Filing Meets Your Needs
When hiring a bankruptcy lawyer, the first thing to consider is what type of bankruptcy filing suits your needs. There are different kinds of bankruptcies, including Chapters 7, 11, and 13. Other options, such as Chapters 9, 12, and 15, are less common. However, most individuals end up filing for Chapter 7 or 13 bankruptcy. A Chapter 7 bankruptcy erases many of your debts, while a Chapter 13 bankruptcy reorganizes them. If you aren't sure which option is best for you, a lawyer can help you decide which one to file for.
You Will Want An Attorney You Can Trust
Bankruptcy is often a complex and emotional process. Therefore, it's crucial to have an attorney who can support you and guide you through the filing process with empathy and compassion. You will need to look for an attorney that you are comfortable working with during your bankruptcy proceedings. You will need to provide a lot of personal information to your bankruptcy attorney. Taking the time to consult with a few different lawyers before committing to one will help you find an attorney you are comfortable with.
What Their Fee Structure Looks Like
How much your bankruptcy costs depends on the type of filing you are going for, the complexity of your situation, and how much your attorney charges. You need to understand an attorney's fee structure before hiring them. Some bankruptcy attorneys charge a flat fee, while others charge by the hour. Make sure you know what you will be expected to pay and when. A Chapter 7 filing will usually set you back between $500 and $3,500 in attorney's fees, while a Chapter 13 filing costs between $1,500 and $6,000.
If you are looking into bankruptcy, here's what to know before hiring a lawyer. First, you will want to determine which type of bankruptcy filing is right for your needs. Second, search for a lawyer you are comfortable working with. Finally, understand your attorney's fee structure before hiring them. Contact a local bankruptcy attorney to learn more.