How Much Does A Bankruptcy Cost In Missouri And Illinois?

After researching the facts of bankruptcy and deciding that it may be an option for you

, the next question is usually, "Alright, how much is this going to cost me?" But, before you go with the cheapest attorney in the phone book, you may want to think about a few facts about the pricing of a bankruptcy.

The first thing to keep in mind is that bankruptcy fees are regulated by the court. We're only allowed to charge a certain amount. That law was created to prevent people from taking cost into consideration when they are choosing the best bankruptcy attorney. The alternatives to bankruptcy, like debt settlement and loan modification, are not regulatedwhich means they can raise their prices to where ever they see fit. That could be another reason that scams have been so prevalent in both industries. A warning was issued by the FDIC that was no doubt due to the rising number of scam victims that stated, "beware of foreclosure rescue and loan modifications scams.".

Choosing the cheapest attorney may not help you have a successful bankruptcy case. Since 99% of bankruptcies take the same amount of work, they are probably only charging you for the amount of work they are planning on doingwhich might not be much. A cheap price might also be a warning sign that there are hidden fees that may be due after you sign. Think about it. If you needed open heart surgery, would you look for the cheapest surgeon? No. You'd probably look for the best. Why take that risk with your financial future?

Also, any bankruptcy attorney that has your best interest at heart will be truthful and honest with youand talk to you about it for free. The best bankruptcy attorneys, however, will have many forms of information available to you--like websites, books, and articles--so you truly understand the basics of bankruptcy before even stepping foot into an office. If an attorney takes the time to educated you before you even set foot in his or her office, it is probably a good indicator that they want you to truly understand the process before you file. I hope you keep these things in mind when you look for the best bankruptcy attorney for you.

by: Jim Brown

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