When your income is not enough to pay all your debts, it can cause you trouble. Creditors can harass you at unwarranted times and places and it can be quite problematic. Your creditors can repossess your car or foreclose on your property too. This can create domestic problems with your spouse and kids. If the situation seems way over your head, you need to look for skilled bankruptcy lawyers in Troy, Alabama to get rid of this problem.
How to find good bankruptcy law firms in Troy, Alabama?
Since you are facing financial problem, having a lawyer with a verified background of representing bankruptcy customer successfully is important. The lawyer should be expert in debt consolidation and financial legislation apart from successfully handling repossession and foreclosure cases. If you have any endorsements from your loved ones (family or friends) or business contacts, it would be extremely helpful.
Though your friend’s divorce attorney might be good, they are not experienced in handling bankruptcy cases. You could, however, ask them for referrals for bankruptcy lawyers. The US Bar Association list is also an excellent source to find bankruptcy lawyers in Troy, Alabama. Whatever your source, ensure that you check for client testimonials and reviews online to get a better idea of the functioning of these lawyers.
Learn to differentiate between Chapter 7 and Chapter 13
Individual bankruptcy filers have the option of Chapter 7 or chapter 13. Chapter 7 is also known as liquidations bankruptcy as your non-exempt property is liquidated in this case to repay your creditors. You do not have to pay any money to settle your debt. Chapter 13 is known as wage earner’s plan. In this case your bankruptcy attorney will come up with a repayment plan to be approved by court in Troy, Alabama. This plan will be based on your disposable income.
What will filing for bankruptcy cost you in Troy, Alabama?
The cost of filing bankruptcy is not the same throughout the country, state, or county. Even the courts charge varying amount to file for bankruptcy. Thus, there is no surprised that the lawyer’s fee is also not fixed. This fee depends on which chapter of bankruptcy you are filing and whether your case involves repossession or foreclosure. It is therefore important to get as many quotes as possible from the different law firms and lawyers you have shortlisted. On an average, a chapter 13 bankruptcy may cost you $2000. Apart from the lawyer’s fee you also need to pay for court and counselling charges.
What to expect in discovery meeting?
The initial meeting with the lawyer is generally free of charge. Thus, you should make the most of it by finding out whether the lawyer is discrete, trustworthy, and conscious of your needs or not. It is important to be patient and thorough with the discovery process. One thing that should be kept in mind is that you are under no compulsion to hire the lawyer based on this meeting. Ensure that you are comfortable during the meeting and know your rights as a consumer.
Finding out whether the lawyer has time for your case is important. Despite the lawyer’s accomplishments, majority of the work on the case is done by paralegals. Their knowledge about bankruptcy laws as well as familiarity with your case is vital for a successful bankruptcy discharge. If you are satisfied with the meeting you should get the contract drafted and signed.
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