12 Oct Bankruptcy Lawyer Fees
In searching for a bankruptcy attorney one of the factors in deciding who to hire is what the cost is. A common problem for potential bankruptcy clients is they are too broke to go broke. Too broke to go broke is a nice way of saying a individual who can be helped by bankruptcy does not have the resources to hire an attorney to file a bankruptcy for them. Inevitably lack of funds can lead the same individual to look for the cheapest option available.
The problem with the cheapest bankruptcy attorney or bankruptcy preparer is in most case you get what you pay for. In the case of a low price bankruptcy lawyer, most are new attorneys who have not practiced bankruptcy law for long and do not understand bankruptcy law. Low price bankruptcy lawyers also usually practice in other areas of law. Instead of focusing on bankruptcy many cheap bankruptcy attorneys also practice family law, criminal law, estate planning, and business law. The problem is the lack of focus means that the same low price attorney does not keep up on the complex laws of bankruptcy.
In the case of document prep companies they cannot offer legal advice. Essentially they give you documents that are free from the bankruptcy court and send you on your way to flounder through the bankruptcy court. In many of these cases the same individuals who pay $100, $200 or more for what is otherwise free documents end up having to hire a bankruptcy attorney to fix or refile.
The best way to look at the cost of bankruptcy is to think about the percentage of debt the attorney fee makes up. In most cases the cost to hire a good experienced bankruptcy attorney in Minnesota represents less than ten percent of the debt owed. The cost benefit for having your debt discharged the first time without issue is worth the cost.
We offer monthly payment plans, so that our clients don’t have to compromise in their choice of a Minnesota bankruptcy lawyer.