Filing bankruptcy, and the way it’s done, is the most important thing you can do towards improving your financial situation. Hiring the best bankruptcy attorney for your money makes the process much more relaxed and leads to a successful bankruptcy case.
Before you hire a Bankruptcy attorney, there are a few things you should ask to make sure the attorney will provide you with the best representation possible. Continue reading this article so that you can get a better understanding about what you should look for when you are hiring a bankruptcy lawyer.
1. Debt Relief Options
Hire a bankruptcy attorney that provides you with various debt relief options. For instance, it may be in your best interest to negotiate a reasonable repayment plan or debt settlement agreement with your creditor in lieu of filing for chapter 7 or chapter 13 bankruptcies.
Some creditors will cancel part of your debt in exchange for a lump sum settlement. Creditors often renegotiate debts because they know they may not recover any money from you if you file for chapter 7 or chapter 13 bankruptcies.
Before you retain a bankruptcy attorney, ask if he/she has experience negotiating repayment plans or debt settlement agreements with creditors. Also, have the attorney lay out the pros and cons of filing for chapter 7 versus chapter 13 bankruptcy (assuming you first qualify to file).
2. Hire a Compassionate Bankruptcy Attorney
Do not hire a bankruptcy attorney that makes you feel bad about your current financial situation. Your attorney should show compassion towards you and be willing to help you obtain the financial legal relief you need.
Most people file for bankruptcy due to large medical bill payments, or as a result of divorce, prolonged unemployment, or bad financial investments. Because you file a bankruptcy cases doesn’t mean that you are dishonest or irresponsible individual and the lawyer that you pick should help you to understand that. Ask the attorney what he/she thinks about individuals filing for bankruptcy and why he/she practices bankruptcy law.
3. Specialize in Bankruptcy Law
Hire an attorney that primarily practices bankruptcy law. Its always best to hire an attorney for your bankruptcy cases that’s primary practice area is bankruptcy and something he does on a part time basisi. Experienced attorneys will be able to analyze your case and avoid any potential downfalls that may arise. This downside may end up in your bankruptcy being dismissed, many more court appearances for you and your attorney, or not being able to discharge certain debts.
4. Reasonable Attorney Fees
When you file for bankruptcy, you will be required to pay attorney fees. This cost will be different depending on the complexity. Typically, bankruptcy attorney fees range from $800 to $3,500 from start to finish. Find out if the bankruptcy attorney collects the fee all at once, or provides his/her clients with payment plans. Never use bankruptcy law firm factories that refer your case out or charge ridiculously low prices so that they can file huge numbers of bankruptcy cases. Hiring a bankruptcy mill firm can result in all sorts of complications arising while filing for bankruptcy. Make sure you ask what the attorney fees cover and the type of service you will receive. Lastly, hire a bankruptcy lawyer who has extensive experience and do not focus on what the lawyer is charging. If an attorney charges much less than market rate, it may be an indication that he/she does not have the legal skills to properly handle your case.
Moreover, I suggest that you find a bankruptcy professional and avoid trying to file your own bankruptcy case. If you do this you may find yourself in a worse position before you file your case.
Meagan Kerr is a bankruptcy legal content writer for bankruptcy law firms in Tulsa, Oklahoma. Her bankruptcy legal articles are written in a fashion that gives average users a great understanding of bankruptcy law in Oklahoma. For more details on Oklahoma bankruptcy law go to her legal blog at: http://tulsabankruptcylawyers.net/