A bankruptcy lawyer will get calls almost every day. These are from people asking how much does filing for bankruptcy cost. Mostly these calls have been triggered by advices from a family member, a close relative or a friend and now they are running their way through a list of firms asking who they can hire with low-priced rate. Bankruptcy is often a tool of last resort for individuals or businesses that are struggling to meet their financial obligations. When you are already at the edge you think you have no other option but to base your choice of a bankruptcy attorney of who charges the least. But did you know? That there are even lawyers who will ask for a fee for handling a legal matter even if they only have a vague background of the person courtesy of the phone call.
They Have an Obligation to Help
A bankruptcy attorney is a professional who has an obligation to help you accomplish a suitable outcome. Not the other way around. For instance, if the caller doesn’t own any property and her only source of income comes from social security benefits then there may be no reason to file bankruptcy. There is no property for a creditor to attach and social security benefits can usually not be garnished. So the person has no reason to file bankruptcy. If he is already barely getting along on a meager income, why should he pay me any amount to file a bankruptcy which will serve no purpose?
If a bankruptcy is truly needed then that bankruptcy attorney will proceed asking such questions as: Are you facing a closure? Will there be a possible repossession in the near future? Would it be better to file a chapter 7 straight bankruptcy which may result in the loss of a home or a car, or, a chapter 13 reorganization which could last for 3-5 years but might allow the caller to keep and reduce car payment?
A good bankruptcy attorney will point out the options available. He or she will not hand out a cheap rate just to reel in a potential client. Remember, most bankruptcy attorneys offer a free consultation. A client owes it to himself or herself to look for more than one bankruptcy attorney and settle for the one who he or she can trust and be comfortable with. Not the one who will charge the LEAST?
Just to Give You an Overview of the Fee
A bankruptcy attorney will charge on a flat rate basis. Hourly rates vary greatly after the initial filing, depending on the locale and relative ability of the lawyer. Expect to pay anywhere $75-$400 an hour for a lawyer’s time depending on the factors listed above. Remember, there really is no exact amount of the cost of filing a bankruptcy; however, it costs more to fix a bankruptcy that is filed wrong than to file it correctly in the first place.
If you plan to take that big step to financial freedom, visit The Andrews Law Group at 6316 Five Mile Center, Suite #300, Fredericksburg, VA 22407, United States or call (540) 785-0010.
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