Bankruptcy Expenses You Can Expect

When you are filing for bankruptcy, you will likely have a difficult time affording anything. Therefore, you might wonder if you will be able to file for bankruptcy even if there are financial benefits to doing so in the long-run. However, there are ways you may be able to save money with a bankruptcy attorney.

Expenses Associated with Bankruptcy

The two types of expenses you will face are court filing fees and attorney fees. The filing fees will cost the same throughout the country but attorney fees will vary widely based on both your location and the attorney you choose. If you file for Chapter 13 bankruptcy, the courts will examine the fees of your attorney. The only exception is if the fees fall below a certain level that is usually considered to be reasonable. 

For Chapter 7, you will usually need to pay your attorney fees before you file because your assets will be wiped out afterward. If you cannot afford your chapter 7 attorney, you may have to raise the funds first or you may be able to work out a payment plan. Some attorneys will also work pro bono. 

The Right Lawyer

You will need to find a lawyer who will charge the right price for their services, will be willing to receive a payment over time, and will also have the experience and expertise necessary to make sure that you win your case. Generally, attorneys will want you to finish making your payments before the bankruptcy has been filed. However, you will still be able to receive a consultation before you have made all your payments.

Before you finish making your payments, your lawyer will still be able to take calls from creditors on your behalf. Then, you will not have to worry about receiving bills or phone calls from them and can instead focus on making payments to your filing fee, which can be split up in four ways.

Do Not File By  Yourself

Filing for bankruptcy by yourself can be a mistake. If you make any errors, you may risk having your bankruptcy modified or even thrown out. There is a lot of jargon that you may have a difficult time understanding. There are also rules you must follow such as how and when you can discharge student loan debts and whether you can gift money to a third-party. You will always need legal counsel. As such, for more information, contact a company like Havner Law Firm.

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