Bankruptcy attorney will help their clients in filing bankruptcy applications. They will handle all legal requirements and formalities to ensure that their clients are not harassed. There are many people who hire low cost attorneys to reduce their expenses.
Here are a few services that you can expect from a bankruptcy lawyer:
a) Most good attorneys will offer free initial consultation that will help the client understand their situation and the options available to them. There are many intricacies in bankruptcy law that clients may not known. For instance clients cannot file for bankruptcy under chapter 7 if they have already filed for Chapter 7 bankruptcy in last 8 years.
b) Your attorney must clearly explain the process of bankruptcy. They must be able to explain the debts that can and cannot be excluded. When you file for bankruptcy, you credit score is affected. Your attorney must be able to explain the affect of bankruptcy on your employment prospects and credit score.
c) Your attorney must be able to suggest alternatives to filing an application for bankruptcy. Most good attorney will suggest debt settlement programs that will help in solving your financial problem without influencing your credit score.
d) The fee charged by the attorney must be clearly documented before you sign an agreement with the attorney. There are many attorneys who charge low fee initially only to increase it later.
There are many people who reduce attorney fee by hiring a low cost bankruptcy attorney. Many problems could arise when you hire such attorneys. Some of the problems include:
i) Some debts that could be included in the bankruptcy petition may not be included.
ii) Certain property exemptions may not be included.
iii) At times, the mortgage that you have taken can be excluded from foreclosure. When you hire low cost attorneys, they may not be aware of this exclusion that could lead to the loss of the family home.
iv) The attorney may clear debts that cannot be legally eliminated.
Therefore it is important that you hire a good bankruptcy attorney even if means paying higher fee and charges.
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