How Much Do Qualified Bankruptcy Attorneys Cost?

How Much Do Qualified Bankruptcy Attorneys Cost

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A better question to ask is, "How much will it cost me to go through a bankruptcy without a qualified attorney?" If examined from the perspective of making an investment, the cost of an attorney would be linked to the ultimate return of money (or savings) at the end of the process. The problem for someone focused on cost only is that the ultimate attorney of choice will likely be focused on the same thing; keeping expenses down while ignoring the end result. Here are three answers to the title question which will indicate whether the prospective attorney is cost or results oriented:

1) Quote first, questions later Getting a quote on services with a specific dollar amount without any inquiry into the specifics of the filing can hint that that each bankruptcy case is a matter of processing documents and getting through the process. Getting a flat fee quote without any investigation of the circumstances surrounding case can lead to two different negative results; the first being over charged for a relatively simple bankruptcy proceeding. The second, and more costly of the two, is that a complex case simply gets processed without the time investment necessary to maximize results. Missing opportunities in this manner can cost a bundle

2) Retainer first, questions later The first retainer may not be the last. Here, a fee might be quoted and paid without full consideration of the specific circumstances involved in the filing. If the case turns out to be much more complex than originally thought, plan on another retainer or two.

3) Questions first - Until a bankruptcy filing has been fully analyzed, the work and associated costs cannot be known. No two cases are the same and a results-focused bankruptcy attorney won't know the level of work involved until that analysis is completed. If it's determined that a Chapter 7 filing will be the most beneficial route, the cost will usually be less than that of a Chapter 13. That determination, however, is impossible without full knowledge of the client's situation.

Deciding on a bankruptcy attorney with price as a main metric while ignoring returns will usually result in an inferior outcome. Insist on working with a results-oriented attorney and the added initial cost will be more than covered by superior returns (or savings) at the end of the process.

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