One of the biggest mistakes that people make when filing for
bankruptcy is to choose to represent themselves. Many people erroneously think, “I
can barely afford to pay my bills, therefore how could I ever afford an
attorney?” The truth is, failing to hire an attorney during bankruptcy
can expose you to a myriad of negative consequences – some of which
could prohibit you from re-filing. While it may seem like an impossibility
at the time, there are actually many different ways that you can afford
a bankruptcy attorney. A skilled lawyer will work with you to determine
a payment plan that best fits your needs.
Your Creditors are Actually Paying Your Attorney’s Fees
When thinking about attorneys’ fees when filing for bankruptcy, you
must alter your thinking. In a certain sense, your creditors will be the
ones footing the bill for your bankruptcy filing. Most attorneys will
instruct you to stop making payments on the majority of your outstanding
debts prior to filing for bankruptcy. In essence, the money you would
have otherwise paid to just paying off your creditor’s interest
will now instead be paid to an attorney. This money would be far better
spent to retain the services of an attorney who can work to eliminate
your debt for good, rather than just paying off interest and barely making
a dent on your principal.
Additionally, the fees required to file for bankruptcy are different depending
on the specifics of the case and the area in which they are filed. In
many cases, attorneys offer payment plans to help make it easier to cover
these costs over time. In most
Chapter 13 bankruptcy cases, attorneys’ fees can actually be incorporated into
your repayment plan.
Struggling with Debt? Call (817) 727-4001
If you are struggling to make ends meet and are in need of financial relief,
the award-winning Fort Worth bankruptcy lawyers at The Pritchard Law Firm
can walk you step-by-step towards a financially secure future and work
out a payment plan that is custom-tailored to your pace. Unlike other
firms, we charge a flat fee for our services, ensuring there are no surprise costs.
Schedule a free consultation or
contact our office online today to get started.