If you are unsure of how to get started with a bankruptcy, you are not alone and there is help. How can you find the right legal help? This guide will show you how. We will go over what type of lawyer you need, what you should expect to pay, how a lawyer can help, and how soon you can reap the rewards of bankruptcy.
Why Hire a Bankruptcy Lawyer?
The problem is that, in Texas foreclosures, unemployment, credit card debt, and medical debt are forcing many of us to make tough decisions. To help make these decisions, you hire a lawyer. A lawyer saves you money. A lawyer saves you time and worry. A lawyer can help you understand the legal help bankruptcy can give. If you have home and/or car, you can protect both with bankruptcy. Finally, bankruptcy may not be your best option: you may do better paying off the debts or negotiating with creditors yourself. A good lawyer is honest, and does not lead you toward bankruptcy if it’s unnecessary.
What type of lawyer do you need?
You need a bankruptcy lawyer, someone who specializes in bankruptcy law, who you can communicate with, and who can help you handle creditors. The most important part may be of specializing in bankruptcy law. This is quite crucial if you truly want a successful bankruptcy. You don’t want just any lawyer who understands the process; you want one who specializes.
How can you find one?
You can look online for lawyers. You can consult the State Bar of Texas, found at Texasbar.com. There are literally thousands of bankruptcy lawyers, but not all are equal. Some will charge too much. Others won’t be able to truly spend time with you, especially if they have too many clients. Some will lack the necessary court room experience. Some may even have no experience in negotiating with creditors. These are all important parts.
Typically you pay $1,000 to $2,000 for a Texas bankruptcy lawyer, sometimes less and sometimes more. This fee can be negotiated. But have it down on paper before you begin. If your bankruptcy is a tough one, you may pay more. But understand you will likely save tens of thousands of dollars, protect valuable property, and get a fresh start.
The Rewards of Bankruptcy
Depending on what form of bankruptcy you file, the rewards are different. You may want to file Chapter 7 bankruptcy to discharge your $50,000 medical debt. You may want to avoid foreclosure with a Chapter 13 bankruptcy. Or you may want to get some relief from bills you simply cannot pay on time after losing your job. There are many laws to know, such as the Texas Homestead Exemption, and a lawyer can explain them to you.