If you are considering whether you need to hire a bankruptcy lawyer, one of the first things you are going to think about are the bankruptcy lawyer’s fees. Unfortunately, millions of Americans find themselves considering bankruptcy as a serious option to deal with their dire financial circumstances. If you’ve got a pile of debts sufficient to make you consider such an option, chances are you don’t have extra money laying around to pay fees associated with hiring an attorney.
Here’s some of the questions you’ll probably want to understand about attorneys fees before you hire a bankruptcy lawyer:
1. How much is a reasonable fee to pay a bankruptcy lawyer?
2. How do I pay a bankruptcy lawyer’s fees? (I am broke, after all)
3. If I’m representing to the court that I’m bankrupt, how do I explain being able to pay my bankruptcy lawyer?
More than anything else, you probably just want to know how to pay as little as possible but still get excellent service from your bankruptcy attorney. First of all, you should understand that this question is dealt with in the bankruptcy laws and their are mechanisms put in place to allow payment to your lawyer. Of course, if there weren’t such provisions, there wouldn’t be very many bankruptcy attorneys around. That is surely not the case.
The good news for you is that this is a competitive industry and if you know what you are doing you can usually get a good bargain from a good lawyer. Of course, most lawyers don’t want you to have this information because they want you to pay them as much as possible.
Before you begin focusing too much on how much the lawyers fees will be, you should understand that this is a complicated area of the law, and its a good idea to make sure you get an experienced attorney who knows what they are doing. There are a lot of scam artists who aren’t even attorneys trying to take people’s money to help with bankruptcy filings, and they aren’t even lawyers. You should avoid them like the plague in my opinion.
When it comes to hiring a bankruptcy lawyer and dealing with their fees, most will offer a payment plan, and most will be willing to negotiate within reason. Keep in mind that via the bankruptcy you’ll be eliminating a lot of debt, so hopefully there will be extra money around to pay the attorney. Your lawyer will also be able to explain all the costs that will be involved and how the court will deal with the question of the bankruptcy lawyer’s fees.