When the economy is in a downturn, there are certain professionals who often see an increase in business or clients. Bankruptcy attorneys are typically highly sought after when the economy is not good. However, when clients approach the attorneys, they usually have little to no knowledge about the bankruptcy process. They also do not have the luxury of time to research it. These desperate clients are also at a loss when they are trying to research bankruptcy law firms in their area.
As individuals become more stressed by the frequent calls from their creditors, they can hastily choose a bankruptcy attorney. The choice may be based on price, an advertisement or even just on a whim. It is important to choose the best attorney for your needs so you will have an increased chance of rebounding financially.
Cheap Is Not Always Best
Many individuals consider choosing the least expensive lawyer because they are already dealing with a financial strain. Prices can vary depending on the region of the country where you reside, and it is essential that you choose a bankruptcy lawyer who offers the services you need.
Fortunately, most reputable attorneys use a standard agreement for chapters of bankruptcy related to liquidation (Chapter 7), or debt reorganization (Chapter 13). The flat rate you are charged should cover such services as:
- Analysis of finances
- Petition preparation
- Creditors’ meeting
- Other services
Ask the representatives of the bankruptcy law firms you are considering about the flat fee and the services that are provided. Also be wary of law firms that quote you a significantly lower fee than the other law firms in your area.
While you can hire almost any lawyer to represent you during your bankruptcy case, it is a good idea to hire a lawyer that specializes in bankruptcy cases. Instead of asking the lawyer how long he or she has been in practice, ask the lawyer about the number of cases the he or she has filed. It will be in your best interest to select a lawyer that has a limited practice.
Finally, make sure that any bankruptcy law firms you contact are updated on the 2005 code changes. It was designed to prevent habitual filers from trying to beat the system, but it has also made it more difficult for some debtors to file for Chapter 7. Be sure to speak with the lawyer you are considering about these updates before you proceed.
Are you looking for a reputable bankruptcy attorney in Georgia? Contact us for a free consultation.