Many people decide it’s finally time to file for bankruptcy but they are so broke that they figure they can’t afford an attorney. They keep delaying and dealing with harassment from creditors, constantly feeling anxious about their situation and scared of getting sued. Cheap bankruptcy attorneys are available to help these individuals get a fresh start. Those compassionate lawyers want people in dire financial straits to contact them for a free consultation.
Chapter 7 vs. Chapter 13
Individuals who are deep in debt and have no reasonable way to pay off those obligations over the next several years probably will be looking at the option of Chapter 7 bankruptcy. Chapter 13 sets up a payment arrangement that allows up to five years, but the default rate is relatively high. Many people start out determined to make this program work, but their budget is spread too thin.
Reasons to Hire a Lawyer
Filing a petition for Chapter 7 online is allowed, but the documentation is complex and may feel overwhelming to most people. It requires a complete list of all assets as well as all creditors and the amounts owed to each one. Any mistakes can delay the acceptance. In addition, there are requirements for completing credit and personal finance management counseling. The petitioner also benefits from having professional legal representation in court.
Hiring a bankruptcy lawyer can be more affordable than most people would think. Many accept payment arrangements suited to the client’s budget. Some ask for a very low initial payment so they can get the process started quickly. As soon as the documentation is filed, all creditors are prohibited by law from contacting the petitioner.
Finding a Lawyer
The individual might ask friends, relatives or acquaintances who have filed for bankruptcy in the past several years if they have any recommendations. Anyone who has been in the home foreclosure process also may be a good resource, since lawyers representing distressed homeowners in that realm commonly also handle bankruptcy cases. With the economy having had such a negative impact on so many U.S. residents over the past 10 years, it is no longer difficult to find people who have been through these trying experiences.