Hiring A Bankruptcy Attorney For Peace Of Mind
3 Things You Need To Understand About The Financial Side Of Bankruptcy
Gabriel Freeman
Ironically, filing for bankruptcy is something that requires the funds to go through the process. Filing for bankruptcy is not a free process. Here are a few things you need to understand about the financial side of filing for bankruptcy.
#1 It Costs to File for Bankruptcy
First, you need to understand that it costs to file for bankruptcy. Between filing frees and attorney representation, you can pay a couple of thousands of dollars to file for either Chapter 7 or Chapter 13 bankruptcy.
If you are filing for Chapter 7 bankruptcy, you need to be able to file the fees to go through with the bankruptcy up front. You need to find a way to finance your bankruptcy. If you are filing for Chapter 13 bankruptcy, you may be able to roll the cost of paying for your bankruptcy into the proceeding and payment plan that will be created for you.
#2 Consultations Are Free
Bankruptcy is not for everyone who finds themselves in a tough spot. You have to meet specific income and debt requirements in order to file for bankruptcy, which can vary from one state to the next. That is why the initial consolation with an attorney is free.
The attorney will review your case and determine if you even qualify for bankruptcy in the first place. Be sure to get a free consolation so that you can know if it is worth it to go through with paying for the bankruptcy process.
#3 Low-Cost Legal Help Is Out There
If you can't afford the first attorney you find, don't get discouraged. Many bar associations have lists of law firms that offer low-cost legal options or that will do pro bone work. There are also organizations that work with attorneys and are specifically designed to help low-income individuals. You may need to have a certain income level to qualify for this type of help.
Stay away from anyone who is not an attorney who says they can help you with your bankruptcy. Those types of organizations and individuals are often running scams that will get you in deeper debt than you are already in.
If you need to file for bankruptcy, you need to save up a couple thousand dollars or work with a low-cost lawyer, law firm, or organization. Remember to get a free consultation first though, so you can see if you meet the requirements for Chapter 7 or Chapter 13 bankruptcy and can move forward with the best choice for yourself. Contact a chapter 7 bankruptcy filing service for more help.
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Hello, my name is Kiley, and if you have major debts and you're thinking about filing for bankruptcy, this is the blog you need to read. Two years ago I was very much in debt, and then I was laid off from my job. The only alternative I had was to file bankruptcy. I was very nervous about filing bankruptcy until I spoke with a bankruptcy attorney. The attorney explained the bankruptcy process with me in terms that I could understand. After the consultation, I felt much better. If you're considering filing bankruptcy, this blog explains the process so you'll know what to expect. I wanted to write this blog so that I could help other people who are in the same situation and to let them know how the process works.