When it comes to hiring a bankruptcy attorney, it pays to know what to look for in order to get the best deal possible. Unfortunately, not every lawyer specializes in bankruptcy, which means that some people may not be aware that there are specific types of bankruptcy, or that they may have a difficult time preparing an appropriate defense on the matter. Therefore, it pays to do some research before deciding who should be your bankruptcy attorney, and what services they should offer. More info here for some nice tips on this.
When you’re dealing with personal bankruptcy, there is no need to hire a chapter 13 bankruptcy attorney. Instead, you will be best served by hiring a financial situation attorney, who can provide the appropriate legal representation and advice that your particular financial situation requires. If you choose to pursue a this type of settlement, you’ll likely need the assistance of a paralegal as well, since many documents you’ll need to fill out regarding the bankruptcy and your other financial situation will require a great deal of computerized data, not to mention a lot of personal effort on your part. For example, a credit report will show all of your debts, whether they are personal or business, and how much of a monthly payment you owe on each one. There may be a spreadsheet provided by your financial situation attorney that will allow you to quickly determine how much money you’ll be able to pay off in each of your debts, as well as how much money you have left in your bank account, to cover living expenses and other bills.
Your chapter 13 bankruptcy attorney may be paid a flat fee, or they may also be paid an hourly rate. In either case, lawyers who work on a contingency fee basis usually make the most money overall. Attorneys who work on a retainer basis to receive their hourly rates multiplied by the number of hours worked, instead of the flat fee that they receive. Some attorneys also work on a percent of your recovery, and some only work on an hourly basis. If you do choose to use a lawyer who works on a contingent fee basis, be sure to ask what the hourly rate is in advance, so that you don’t waste any time paying extra for the extra work involved.