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.
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.
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.