Chapter 7 bankruptcy can be simple, it can be difficult. But one thing for sure is that you’re going to want to hire a lawyer if you want it done right.
Of course a lawyer’s going to tell you to hire an attorney, right? After all, it’s in my best interests to do so.
Actually, that’s wrong. If someone files for Chapter 7 on their own that’s terrific. The problem is that if you run into trouble you’re going to need to spend a lot more money than you would have on a lawyer in the first place.
You can get a reliable Chapter 7 bankruptcy in New York for a fraction of the amount of money you owe. But you need to be careful. Remember the saying – penny wise, pound foolish.
Will you experience the same problems as my other client? Maybe, maybe not. But consider this: if you could settle your debts for 40% of the total amount due, would that be a good deal? How about 30%? 20%?
If you’re like most people, settling at 40% of the total debt would be a great deal, and anything less is considered a steal. That’s how you need to approach your Chapter 7 legal fees.
It’s like an insurance policy, isn’t it? You spend a small amount of money in the grand scheme in return for peace of mind that things are being handled correctly.
The key is that you need to have trust and faith in your lawyer. This person is going to hold your financial future in their hands, and you want to be able to rely on the decision you make.
Interview a few lawyers. Get a feel for their style, the way they talk and how they proposed to handle the case. More to the point, ask every question under the sun and be sure you understand the answers.
There are a lot of excellent bankruptcy lawyers in New York City. As the New York co-chairman for the National Association of Consumer Bankruptcy Attorneys, I’m glad to know our consumer bankruptcy lawyers are well-informed and ready to help.
I’ve also had the opportunity to teach bankruptcy law at Solo Practice University, so educating other lawyers in the skills they need is important to me.
The only decision you have is who you like best – not who charges the least amount of money.
Photo above is of the Apple Store on 5th Avenue in Manhattan. It’s one of my favorite places in the city to spend a rainy day because I get to play with the computers. Courtesy of johannes pape.
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