A Morris County Bankruptcy Lawyer Explains
While everyone encounters money troubles at some point in their life, there are certain situations that cause an especially grievous amount of financial hardship, including unexpected medical bills, economic upheaval and loss of employment. When these situations arise, massive debt can sometimes follow. In the wake of these debts, many individuals turn to legal remedies such as bankruptcy to get their lives back on track. Bankruptcy and debt settlement are valuable tools that allow individuals to restart their financial records.
However, many individuals are hesitant to use bankruptcy despite the relief that it offers. This apprehension sometimes occurs because they fear being unable to pay for the assistance of a qualified Morris County bankruptcy attorney.
Attorney Fees in Chapter 7 and Chapter 13 Bankruptcy
Attorney fees are handled differently depending on whether you choose to file under Chapter 7 or Chapter 13 rules.
Chapter 7 cases tend to have lower fees since they are generally less complicated than Chapter 13 filings. A typical Chapter 7 bankruptcy will be completed within 4 to 6 months. In most cases, bankruptcy attorneys will require you to pay the full fee upfront for Chapter 7, but the relief offered when the bankruptcy court discharges unsecured loans will more than make up for any fee paid.
It may be tempting to file bankruptcy yourself, or find one of the many “cheap and easy” Chapter 7 non-lawyer services that you often see advertised. However, bankruptcy is an extremely complicated and nuanced legal affair. In addition to the federal and state laws that govern the bankruptcy process, city and county regulations may also regulate the proceedings. Unlike non-lawyer services, a qualified Morris County bankruptcy attorney owes ethical duties to clients, overseen by the state bar association. In bankruptcy, there is no substitute for a qualified attorney.
Attorney fees in a Chapter 13 case are included into the payment plan that is established after filing. In cases like this, the only upfront cost you will have to worry about is the filing fee. Qualified and ethical attorneys always fully explain all fees and the options you may have before retaining their services.
We Offer Solutions for Individuals Struggling with Debts
At Ast & Schmidt, PC, we have the experience you need if you are considering bankruptcy. Contact our office today to take the first step towards a life free from massive debt. We are prepared to assist clients throughout Morris County, including the communities of Madison, Parsippany, Dover, Randolph, East Hanover, Whippany, Chatham, and Cedar Knolls. Make the best choices for yourself and your family with the assistance of a Morris County bankruptcy attorney.