Filing For Chapter 7 Bankruptcy? What To Know About Hiring An Attorney

While you may not want to file for personal bankruptcy, if you are in a significant amount of debt and have no way to pay it off, it may be your best option. Many who file for bankruptcy end up filing for Chapter 7 bankruptcy. Often a Chapter 7 filing is the best option if you are looking to get back on track financially. However, to ensure that your filing is successful, you will likely want to hire an attorney. Here are three things to know about hiring a bankruptcy attorney.

How They Can Help You Find The Best Path Forward

Even when you file for bankruptcy, digging yourself out of debt is still challenging. This is where a bankruptcy lawyer can help. A Chapter 7 bankruptcy attorney will help you determine if this type of bankruptcy is the best option for you or if there is another path that makes more sense. Filing for bankruptcy is also not an easy process. You will need to fill out a significant amount of paperwork and follow court rules and procedures. A bankruptcy lawyer will work to guide you through this process.

How Much It Will Cost

Another thing to consider when hiring an attorney is whether you can afford their fees. If you are filing for Chapter 7 bankruptcy, you probably don't have much in the way of extra funds. However, hiring a lawyer is typically well worth the cost since they will guide you through the bankruptcy process and work for a successful filing. On average, you'll pay between $1,000 and $1,750 in attorney's fees during a Chapter 7 bankruptcy. 

How You Will Pay Their Fees

Knowing how much your attorney charges is the first step. The second is figuring out how to pay for their fees. Borrowing money from friends or family may be an option. Stopping payment on any debts that will be cleared during the bankruptcy and putting that money toward attorney fees is also an option. If you are struggling to find an affordable attorney, you may be able to find one who offers pro bono services. Legal clinics and legal aid societies may also be great resources if you are filing for Chapter 7 bankruptcy.

If you plan to hire an attorney to help you file for Chapter 7 bankruptcy, there are a few things to keep in mind. An attorney will help you find the best route forward when you are filing for bankruptcy. Attorney fees will vary but usually cost upwards of $1,000. However, a few options are available if you are struggling to afford a Chapter 7 bankruptcy attorney. 

Contact a local Chapter 7 bankruptcy attorney to learn more.