Bankruptcy Fees
Tue, Dec 2 2008 06:04
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Being a bankruptcy attorney and the way the economy is today there is an assumption that business is booming for bankruptcy attorneys across the country. This might be true but I find for myself and our firm, business has actually been quite steady since 2003. What I do find is attorneys that were in other practice areas such as real estate who have seen a major decline in their practice area switch over to bankruptcy law and will advertise all sorts of gimmicks regarding fees because they believe this is the area to be in. The first problem with this is that bankruptcy is more than just filing a petition and going to a 341 meeting. Most cases are cut and dry, but an attorney still needs to be well versed in the law as there could be an adversary action filed by a credit card fighing the discharge which I have been seeing quite often as of late. I won't even get into the issues that can occur regarding foreclosures in this entry, but suffice it to say that opens up all sorts of issues which equates more hours the attorney has to spend on this specific debtors' case. What does all this have to do with fees?
Well I have noticed that phone calls have increased by potential clients asking me how much money they would need to start the bankruptcy process. The reason they ask this questions is because there is quite a bit of advertising by attorneys whether it be,a large or small firm advertising payment plans which I find misleading in my opinion. The bottom line is no attorney or bankruptcy law firm will file a case without being paid in full. Having said that when a bankruptcy law firm advertises a low money down amount to get the job started it is just a hook do get you through the door. The bottom line is your case will not be filed until you are paid in full, which means you will not be under bankruptcy protection. So be informed when you make those calls, and I recommend hiring the lawyer that will take the time and answer your questions whether it be by email, telephone or in person and will discuss his or her fees with you up front.
Well I have noticed that phone calls have increased by potential clients asking me how much money they would need to start the bankruptcy process. The reason they ask this questions is because there is quite a bit of advertising by attorneys whether it be,a large or small firm advertising payment plans which I find misleading in my opinion. The bottom line is no attorney or bankruptcy law firm will file a case without being paid in full. Having said that when a bankruptcy law firm advertises a low money down amount to get the job started it is just a hook do get you through the door. The bottom line is your case will not be filed until you are paid in full, which means you will not be under bankruptcy protection. So be informed when you make those calls, and I recommend hiring the lawyer that will take the time and answer your questions whether it be by email, telephone or in person and will discuss his or her fees with you up front.
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