Bankruptcy Lawyer Dirty Secrets
Below is a MRR and PLR article in category Finance -> subcategory Personal Finance.
The Hidden Truths About Bankruptcy Lawyers
Summary:
Filing for bankruptcy primarily involves completing a few forms. Yet, firms specializing in bankruptcy law perpetuate the myth that hiring an expensive lawyer is necessary to eliminate debt.
Keywords:
bankruptcy, bankruptcy law, credit counseling, credit card, bad credit, credit score, credit report, financial difficulties, Responsible Loan Officers
Article Body:
In recent years, the bankruptcy law industry has grown significantly, even though filing for bankruptcy often just involves filling out a few forms. Misleading messages from firms focusing solely on bankruptcy law have convinced many consumers that they need to hire costly attorneys to erase their debts.
Even if a client has complex questions or a unique combination of income, debt, and assets, an experienced lawyer can typically manage a bankruptcy case quickly. Some ethical lawyers charge only for the actual hours spent, but most firms have a minimum fee of $2,000 for basic filings. In some regions, fees can soar to $10,000 per case!
These high fees have driven many honest attorneys away from the bankruptcy field. Once clients believe that declaring bankruptcy must cost thousands, they often distrust lawyers who charge less.
Filing for bankruptcy is so straightforward in many instances that secretaries often handle the paperwork. However, some lawyers capitalize on this, keeping clients in the dark while profiting from unnecessary fees.
Regardless of how you found yourself in financial trouble, bankruptcy should not be your first option for managing substantial debt. Considering high legal fees and new laws favoring credit card companies, it's generally wiser to resolve financial difficulties outside the courtroom, benefiting both your short- and long-term financial health.
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