How to Find Cheap Bankruptcy Lawyers?
If you need to file for bankruptcy, you're no doubt experiencing financial hardship. Though filing for bankruptcy represents a way to at least wipe most of the slate clean or help you manage your debt, it does come with a price tag.
Even cheap bankruptcy lawyers may cost from $1200 to $2500. Fortunately, DoNotPay's product to help you with the steps and legalities of filing for bankruptcy saves you money and frustration, and we will get your creditors to stop harassing you.
People filing bankruptcy often fall prey to fraudulent companies that don't possess the legal expertise to help them with their bankruptcy. They leave their clients with empty promises and in worse financial shape.
It's important to know what to expect from your bankruptcy lawyer or legal service.
What is Bankruptcy?
Bankruptcy represents a federal court process to assist those experiencing severe financial circumstances, eliminating debt or paying it off under bankruptcy court protection.
Two types of bankruptcy exist for individuals or married couples to file.
Chapter 7 takes non-exempt assets and converts them into cash. The liquidated assets get returned to the creditor. Assets needed for daily living, such as houses and cars, usually fall under reinvestment. The person filing then keeps these necessary assets.
Chapter 13 represents a bankruptcy option for individuals with steady employment or other forms of income. The primary advantage of Chapter 13 involves keeping possession of your assets. Some of the debt may get discharged, but most of it involves a court-ordered reorganization of debt and payment plan, usually between 36 and 60 months.
What won't bankruptcy cover?
Some debts don't get covered at all under Chapter 7. If you file for Chapter 13, those same debts may increase the time of the repayment plan, or the obligations will remain after the course of the repayment plan. The debts listed below do not get discharged when you file for bankruptcy:
- Child support and alimony payments
- Unlisted debts
- Recent income tax debt
- Legal fines
- Most student loans
- Payments under a divorce decree or settlement
- The debt you incurred illegally
- Credit purchases made within 90 days
- Restitution you're ordered to pay in a Civil Action suit
How to determine if you should file for bankruptcy:
Not everyone should file for bankruptcy. Consider these guidelines to see if they might represent the best choice for you:
- Your attempts to control your spending failed through previous debt consolidation plans.
- Your income does not cover your current debt obligations.
- You tried making arrangements with creditors unsuccessfully.
- Your ratio of debt to your annual income measures above 40%.
When Is Chapter 7 doesn't represent a good choice:
Though Chapter 7 may seem like it would result in a potentially cleaner financial slate, it doesn't make sense for everyone. Reasons not to file for Chapter 7 include:
|What It Is:||Why It Matters:|
|You don't possess non-exempt assets||These assets may be seized to try to pay off some of your debts.|
|You filed for Chapter 7 fewer than eight years ago||You will cause nearly irreparable damage to your credit score if you try to file bankruptcy again in this time period.|
|You don't want to bestow the burden on a co-signer||You could hurt a co-signer financially as well.|
|You don't want to give up property or equity in your property||You could lose value that you have built up in the property that you own.|
|You are guilty of defrauding your creditors||You could be charged with a crime for defrauding creditors.|
What documents do you need to file for bankruptcy?
Before you pursue filing for bankruptcy, make sure you've gathered the following information and the supporting documentation:
- Proof of income
- Mortgage and fair market value of your real estate
- Vehicle registration and proof of insurance
- Retirement and bank account statements
- Federal or State issued identification
Avoiding bankruptcy scams:
Don't let scammers take advantage of your situation. Some agencies seek out those looking for low-income bankruptcy lawyers. To avoid agencies that take advantage of those in need of financial and legal help, consider the following tips:
- Work directly with a qualified lawyer or legal service
- Make sure they present you with options
- Don't pay for a credit report
- Realize that no quick fix exists to fix your debt
- Educate yourself about the bankruptcy process and determine if your attorney or agency presents it truthfully.
How to search for a cheap reputable lawyer:
If you decide to file for bankruptcy on your own and need to find an affordable lawyer, follow the steps below:
- Gather the required documents.
- Research the differences between Chapter 7 and Chapter 13 and how it affects your property.
- Contact your State Bar Association.
- Contact the National Association of Bankruptcy Attorneys
- Avoid using paralegals. They can't offer legal advice and add to the cost.
- Look into legal aid organizations.
- Check unbiased reviews on sites such as Yelp. Search for 'cheap bankruptcy attorneys in my area.'
Let DoNotPay help you with excellent legal advice:
DoNotPay helps you file bankruptcy while saving you time, money, and frustrations. As the premier robotic lawyer, we possess the legal knowledge to move you forward in the process reasonably and efficiently.
How to file for bankruptcy using DoNotPay:
If you want to delete old accounts but don't know where to start, DoNotPay has you covered in 5 easy steps:
- Search for File for Bankruptcy on DoNotPay.
- Put together a list of your debts, expenses, and assets. If you need help accessing information like your credit report, DoNotPay can help you get your report.
- Let DoNotPay walk you through your bankruptcy options and help you determine whether a Chapter 7, Chapter 12, or Chapter 13 bankruptcy is right for you.
- DoNotPay will then help find the best credit counseling course near you, which you need to complete before filing your bankruptcy forms.
- Lastly, DoNotPay will gather all of the forms you need (including available fee waivers) and help you locate your nearest bankruptcy court. All you have to do is complete the required forms, prepare your filing fee, and file the application with your local court.
And that's it! Once done, the court will give you:
- Your bankruptcy case number
- The name of your bankruptcy trustee
- The date, time, and location of your meeting with your trustee
At this point, your case has been filed! Congrats! The automatic stay now protects you from all debt collectors. Your trustee will then contact you for further financial documents you will need to provide. Make sure to attend your meeting as well as complete the post-filing bankruptcy debtors course!
These three reasons tell you why using DoNotPay to file for bankruptcy makes the most sense:
- Fast—You will save hours of research and look for a cheap bankruptcy lawyer.
- Easy—You don't need to figure out the process or what forms to complete.
- Successful—DoNotPay will use their legal expertise to work in your vest interest.
DoNotPay will help you with many other aspects of bankruptcy and related problems:
The links below will give you more information:
- Learn about filing for Chapter 13
- Learn about filing for Chapter 7
- Learn the steps of filing for bankruptcy
- How to write a bankruptcy verification letter
- What are the downsides of filing for bankruptcy?
- How to write a 609 letter
- How long a bankruptcy stays on your credit report
- What is the cost of fiing file for bankruptcy
What else is possible with DoNotPay?
As the premier Robotic Lawyer and Artificial Intelligence Attorney, DoNotPay offers solutions to everyday personal management concerns and many legal problems. Check out just a few of the ways DoNotPay may help you:
- Learn about becoming Power of Attorney
- Learn how to obtain chargebacks and refunds
- Find out if you're entitled to missing money
- Easily cancel accounts
- What happens with a breach of contract
Don't hesitate to visit us here for more information on the products DoNotPay offers to make your life easier.