Factors To Consider When Hiring A Bankruptcy Attorney

Dealing with bankruptcy is never easy, having a competent person represent you in such cases is therefore very important. To land this person, you will need to do a thorough vetting. Below is a step-by-step outlook on how to land competent bankruptcy attorneys is discussed.

References

The first thing to look for are references. Usually, a friend working in the legal system can suggests to you a few lawyers who specialize in this field. You can also do some online research to find a few bankruptcy attorneys with good reviews or even check your local yellow pages.

Contact these attorneys by phone. The aim of you first call is to invite each of these experts for interviews. Generally, most lawyers may offer the initial meeting free of charge. Always take note of how you are addressed; a bad voice tone or unresponsiveness from the attorney’s help is never a good sign.

Ask Questions

In you meeting, ask as many questions as possible. Take note of how the lawyer responds to each of your queries and if they genuinely want to help you. Having the points you will be talking about written out in advance can be very helpful to make your vetting be more objective.

By the time you’re done with all these experts, you should be able to tell who you’ll hire. If not, you can repeat the above step until you find someone first rate. Though this process can take a lot of your time, it usually will lead you to a competent attorney.

Cost

Take note of the cost aspect. It is true that you are not exactly out to get the most expensive services, but on the flip side getting the cheapest attorney may be counterproductive. If you come across a legal representative who is charging very low rates compared to the rest, chances are that they are not the best. Also, there is a huge probability that they will not put in enough time for the case.

Bankruptcy is usually filled under chapter 7 and chapter 13. In a nutshell, chapter 7 will allow your to legally walk away from your debt – and chapter 13 will allow you to consolidate your debt under a more comfortable term and interest rate in order for you to pay it off with less stress. Your attorney should explain these options in detail to make sure that you understand your choices.

Closing Words

Please be advised that although filing for bankruptcy might help to solve your debt crises, it should be your last resort because it can stay of your financial record for up to 10 years (particularly chapter 7 bankruptcy) and cause serious financial consequences and social stigma.

I’m not saying this to scare you away from bankruptcy, because you gotta do what you gotta do. But just don’t be so fast to pull the bankruptcy trigger. Bankruptcy should be a situation where you have truly exhausted all other options, and are just to the point that you really see no other way out.

25 Replies to “Factors To Consider When Hiring A Bankruptcy Attorney”

  1. All very valid and interesting points on choosing a bankruptcy lawyer. I agree about meeting the prospective attorneys in person to gauge how invested they are or could be in your case because it’s easy to fake interest on paper, everything is made clearer with personal interaction.

  2. Oh wow, I had no idea that bankruptcy records are kept up till 10 years. Anyway, thank you for this very informative piece. And it’s true that the lawyer I get has to be on board to help me not judge me on my spending habits so if during the interview I get a wrong vibe from the lawyers countenance, I will be sure to pick another Lawyer. God thing I have friends I can rely on to make recommendations.

  3. Filing for bankruptcy is probably the last thing I want to do because that would mean that I’m broke. But if I must and that I need to have a bankruptcy lawyer, then this is great info.

  4. Excellent piece. Didn’t know bankruptcy could be divided into two categories; chapter 13 and chapter 7. Another interesting point is the one on the cost of lawyers. Haha, so true. So many people nowadays go for the cheapest product on the supermarket isle or the cheapest service. What’s that saying? Cheap is expensive 😨

    1. Yeah it’s a difference between a good value and cheap. Unfortunately, cheap tends to translate across the board, even into the service.

  5. The articles was fantastic, I do concur the attitude and treatment you receive from your Bankrupt attorney will determine the pace of your interactions. The costing as well is a very important factor to consider too cheap might mean lack of quality while too expensive might be a rip off. So asking questions and research is really important in this perspective…

  6. Very informative! Anyone thinking of filing a bankruptcy claim needs to be informed of all the possible options. I guess the key here is truly to be prepared, especially with your questions and of course, the cost. Undeniably, it also helps a lot to have connections with people in the legal system.

  7. I particularly liked the “Ask Questions” section of the article. Although it sounds simple enough and a no-brainer, asking everything that’s on your mind related to bankruptcy during meeting with lawyers is often overlooked. Aside from learning about the various details of this subject, you’ll also get a deeper understanding of the characteristics, personalities, and intentions of your potential lawyers.

  8. Very informative post, bankruptcy is such a delicate issue that one must do his/her homework and ask as much questions as possible, knowing the lawyer does help a lot.

  9. I love the part that says: “…take note of how you are addressed; a bad voice tone or unresponsiveness from the attorney’s help is never a good sign”. While the principle of “first impression’s last” is not always the case, here is one instance that you can be warned what kind of work relationship you and the attorney you will be hiring will have in the future. It is wise to observe if there is respect shown on the onset of the conversation and how your future attorney listens and responds to your queries.

  10. I wish my dad would had read this! Unfortunately my family went to bankruptcy last year. Im not ashame of this. Shame on the attorney who took advantage of my father’s unknowledge. I hope this article can help other families to get throught.

    1. Sorry to hear that. Yes, you definitely need to have an advisor that will be honest enough to explain to you the pros & cons of bankruptcy. It’s definitely not the right move for everyone.

  11. Great article. Not only do you help people by giving them tips on how to find the best legal counsel when one needs to file for bankruptcy, you also help them by telling them to file for it as a last resort because it will have lasting effects ( I didn’t know it would stay in one’s financial record for up to 10 years!). Thanks for this!

  12. Very helpful article. i agree with taking note of the lawyer’s tone in communication and how you are addressed during the preliminary interview. A Bankruptcy attorney’s performance might be a direct reflection of how they perceive you. if from the first interview i get a sense of any form of judgement or complacency, i would avoid hiring such firms.

  13. I totally agree that filing for bankruptcy should be the last option to solve financial problems such as debt crises. One must do everything first so that there will be no regrets later on.

  14. This blog is really helpful for anyone contemplating to file a bankruptcy claim. It screams ‘WAIT’ and review your options again. 10 years is a long time, so even before getting that lawyer, you may just need to be sure there is no other way out.

  15. Agree on the cost aspect. It is quite a predicament to find a costly attorney to help file for bankruptcy. But in this case, you do get what you pay for. However, most reputable attorneys do not divulge their fees over the phone and almost always a red flag when they do. They would at least require an initial consultation prior to saying how much they would charge. Also, beware of those firms who claim to specialize in bankruptcy when their practice is all about churning out cases with no regard to your specific needs!

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